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Professional Indemnity Australia Weekly Risk and Insurance News

Each week, Professional Indemnity Australia brings a clear, plain-English wrap of the news affecting professionals and small businesses across the country. We cover industry developments, regulatory updates, notable cases, and emerging risk trends—distilling what changed, why it matters, and practical takeaways you can act on. Expect concise, trustworthy coverage tailored to consultants, contractors, and SMEs, helping you stay informed, compliant, and confident without the noise.

This Week:

This week: draft trust tax rules propose a 30% minimum rate from July 2028 but allow discretionary trusts to elect fixed distributions, with consultation open until 18 September. Card surcharges end on 1 October for Visa, Mastercard and eftpos, with lower interchange caps to soften costs. A life insurer is sanctioned over widespread notice errors, reinforcing the need for accurate, timely client communications. And a Sydney summit spotlights rising compliance expectations, APRAs CPS 230, and more complex, AI‑assisted complaints—prompting a review of renewal and client‑care workflows to reduce professional indemnity risk.

EPISODE 2882 | Professional Indemnity Australia Weekly Risk and Insurance News | Sun, 6th Sep 2026

11 Sep 2026 | Paige Estritori

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Read Full Transcript:

Hello and welcome to Professional Indemnity Australia Weekly Risk and Insurance News, Im Paige Estritori, and its Sunday, 6 September 2026. First, a trust tax shift that matters if you trade through a family or discretionary trust. Draft legislation would impose a 30 per cent minimum tax from July 2028, but proposes a carve‑out if a trust elects fixed distributions. That could spare many small businesses the cost and disruption of restructuring, though stamp duty and a one‑time election rule are still concerns. Submissions close Friday, 18 September, so speak with your tax adviser, and if you change your structure or beneficiaries, make sure your policy schedule lists the correct legal entity and notify your broker so your professional indemnity cover keeps pace. Next up, card surcharges are set to end on 1 October. Businesses will no longer be able to add fees for Visa, Mastercard or eftpos, while interchange caps drop to help offset costs; American Express has also removed surcharging. Update your pricing, invoices, websites and signage, and keep records of the change. Clear, upfront charging reduces disputes—and that lowers the risk of complaints that can spill into claims territory. Meanwhile, a life insurer has been formally sanctioned after more than ten thousand errors in annual policy notices over an 18‑month period. The message for any professional or firm is simple: client communications must be accurate, complete and on time—especially during system changes or when third parties are involved. Build checks into your workflows, keep an audit trail, and make sure engagement letters, scopes, and deliverables are issued and acknowledged—good hygiene that helps prevent negligence allegations. And finally, an industry summit in Sydney this week put compliance front and centre. Speakers highlighted incoming prudential standards, including APRAs CPS 230 for operational risk and governance changes, and noted a rise in long, AI‑assisted complaints. Brokers reported that half of their code breaches relate to renewals, underscoring the need for robust reminders and documentation. For consultants and SMEs, the takeaway is to review renewal and client‑care processes now, tighten file‑notes, and confirm advice in writing—steps that strengthen your defence if something goes wrong. Thats the wrap. For clear guidance and to compare tailored professional indemnity options for your business, visit professional-indemnity-australia.com.au. Im Paige Estritori—thanks for listening, and Ill catch you next week.

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