- Product Governance Is Becoming a Professional Liability Issue
Recent industry reporting on ASIC’s continued attention to product governance is a useful warning for Australian professionals who help design, recommend, distribute or review financial products.
- Cyber Risk Is Blurring the Lines for Professional Indemnity Cover
Recent insurance market commentary has again highlighted a growing challenge for Australian professional service firms: cyber incidents are no longer just an IT problem.
- Client Distress Is Becoming a Professional Liability Trigger
Fresh small business finance reporting has put insolvency and cash-flow pressure back near the top of the risk agenda.
- Why Complaint Handling Is Now a Professional Risk Test
Fresh industry attention on ASIC’s internal dispute resolution data has put complaint handling back in the risk spotlight for financial services firms, advice practices and the businesses that support them.
- Compensation Rules Put Professional Indemnity Cover Back in Focus
Fresh industry attention on ASIC's expectations for compensation arrangements is a timely reminder that professional indemnity insurance should not be treated as a once-a-year renewal task.
- Respect@Work Duties Are Becoming a Professional Risk Issue
Fresh attention on how Australian businesses put Respect@Work obligations into practice is a timely reminder that workplace conduct risk is no longer confined to HR manuals or internal training sessions.
- ASIC Breach Reporting Trends Put Professional Risk Back Under the Microscope
Following recent complaints data, fresh industry attention on ASIC’s reportable situations regime is another reminder that professional risk rarely appears without warning.
- AFCA Complaints Data Sends a Clear Risk Signal
Fresh complaints reporting from the Australian Financial Complaints Authority has given professional service firms another reminder that client dissatisfaction can become a serious balance sheet risk long before it turns into formal litigation.
- New APRA Data Highlights a Split Professional Indemnity Market
Fresh analysis of APRA’s latest National Claims and Policies Database has added useful detail to the current professional indemnity insurance conversation.
- Softer Professional Indemnity Pricing Creates a Timely Cover Check
Fresh July 2026 market commentary suggests Australian professional indemnity conditions have moved further into a buyer-friendly phase, with stronger insurer competition and available capital placing downward pressure on premiums. For consultants, advisers, accountants, IT providers, designers, engineers and other service-based businesses, this may create a useful renewal window.
- Adviser Levy Pressure Puts PI Reform Back in Focus
The Financial Advice Association Australia has renewed pressure on the Federal Government to limit Compensation Scheme of Last Resort costs for financial advisers, arguing the profession should not carry more than $20 million in total levy exposure while adviser numbers remain under strain.
- AI Risk Is Moving From IT Teams to the Boardroom
Artificial intelligence is no longer a side project for technology teams. Fresh industry reporting on Clyde & Co’s Corporate Risk Radar 2026 points to a sharp rise in concern among business leaders, with technology risk now being treated as a core governance, regulatory and reputational issue.
- AI Risk Is Creating New Questions for Professional Cover
A fresh warning from Australian medical indemnity underwriter Tego has highlighted a risk that many businesses are only beginning to confront: artificial intelligence may not fit neatly inside existing insurance categories.
- Sterling Insurance Enhances Professional Indemnity Offerings with Lloyd's Binder
Sterling Insurance has recently secured a new professional indemnity (PI) binding authority with Lloyd's, a development that promises to provide Australian brokers with greater control over product offerings and pricing structures.
- Navigating the Complexities of Australia's Professional Indemnity Insurance Market
The professional indemnity (PI) insurance market in Australia has experienced significant fluctuations over the past few years, presenting challenges for professionals across various disciplines. Understanding these market dynamics is crucial for securing appropriate coverage and managing risk effectively.
- QLS Announces 15% Reduction in Professional Indemnity Insurance Levies for 2026/27
The Queensland Law Society (QLS) has recently approved a substantial 15% reduction in professional indemnity (PI) insurance levies for the 2026/27 period. This decision is set to provide significant financial relief to legal practitioners throughout Queensland.
- ICA Advocates for Structural Reforms to Ensure CSLR Sustainability
The Insurance Council of Australia (ICA) has called for structural reforms to the Compensation Scheme of Last Resort (CSLR) to address growing funding pressures and enhance consumer protection. This appeal comes in response to a Treasury consultation paper examining the role of professional indemnity insurance in compensation claims.
- Markel Introduces Customised Professional Indemnity Insurance Solutions in Australia
Markel, the insurance operation within Markel Group Inc., has announced the launch of professional indemnity (PI) insurance solutions in Australia, featuring localised wordings to service a broad range of professions.
- QLS Approves 15% Reduction in Professional Indemnity Insurance Levies for 2026/27
The Queensland Law Society (QLS) has announced a substantial 15% reduction in professional indemnity (PI) insurance levies for the 2026/27 period, a decision poised to benefit legal practitioners throughout Queensland.
- ICA Advocates for Structural Reforms to Compensation Scheme of Last Resort
The Insurance Council of Australia (ICA) has called for structural reforms to the Compensation Scheme of Last Resort (CSLR) to address growing funding pressures and enhance consumer protection. This appeal comes in response to a Treasury consultation paper examining the role of professional indemnity insurance in compensation claims.
- Markel Introduces Tailored Professional Indemnity Insurance Solutions in Australia
Markel, the insurance operation within Markel Group Inc., has announced the launch of professional indemnity (PI) insurance solutions in Australia, featuring localised wordings to service a broad range of professions.
- QLS Approves 15% Reduction in Professional Indemnity Insurance Levies for 2026/27
The Queensland Law Society (QLS) has announced a significant 15% reduction in professional indemnity (PI) insurance levies for the 2026/27 period. This decision, approved by the QLS Council in April 2026, is set to benefit legal practitioners across Queensland by lowering their insurance premiums.
- Insurance Council of Australia Advocates for Structural Reforms to CSLR
The Insurance Council of Australia (ICA) has called for structural reforms to the Compensation Scheme of Last Resort (CSLR) to address growing funding pressures and enhance consumer protection. This appeal comes in response to a Treasury consultation paper examining the role of professional indemnity insurance in compensation claims.
- Markel Introduces Tailored Professional Indemnity Insurance Solutions in Australia
Markel, the insurance operation within Markel Group Inc., has announced the launch of professional indemnity (PI) insurance solutions in Australia, featuring localised wordings to service a broad range of professions.
- Federal Court Denies Allianz's Attempt to Limit Sexual Misconduct Coverage
In a landmark decision on April 28, 2026, the Federal Court dismissed Allianz Australia's bid to impose a cap on sexual misconduct coverage under the Uniting Church's professional indemnity policy. This ruling underscores the judiciary's stance on upholding policy terms as executed, rather than as later interpreted by insurers.
- Markel Unveils Customised Professional Indemnity Insurance for Australian Market
Markel, a prominent US-based specialty insurer, has announced the launch of professional indemnity (PI) insurance products specifically designed for the Australian market. This strategic move comes in response to a notable reduction in PI insurance capacity over recent years, leaving many professionals seeking reliable coverage options.
- Rising Professional Indemnity Claims in Australia's Financial Services Industry
The Australian financial services sector is currently witnessing a significant increase in professional indemnity (PI) insurance claims. This trend is largely attributed to intensified regulatory scrutiny and recent legal actions initiated by the Australian Securities and Investments Commission (ASIC).
- Arch Insurance Australia Elevates Aisling Hegarty to Lead Professional Indemnity Division
Arch Insurance Australia has announced the promotion of Aisling Hegarty to the position of Head of Professional Indemnity (PI), effective immediately. This strategic move underscores Arch's dedication to bolstering its PI insurance offerings across the Australian market.
- Insurance Council of Australia Advocates for Reforms to Sustain Compensation Scheme of Last Resort
The Insurance Council of Australia (ICA) has called for structural reforms to the Compensation Scheme of Last Resort (CSLR) to address growing funding pressures and enhance consumer protection. This appeal comes in response to a Treasury consultation paper examining the role of professional indemnity insurance in compensation claims.
- BizCover and BHSI Collaborate to Provide Digital Professional Indemnity Insurance for Australian SMEs
In a significant development for Australian small and medium-sized enterprises (SMEs), BizCover has been appointed as the exclusive direct online distributor of Berkshire Hathaway Specialty Insurance's (BHSI) Professional Indemnity (PI) insurance.
- Rising Professional Indemnity Claims in Australia's Financial Services Industry
The Australian financial services sector is currently witnessing a significant increase in professional indemnity (PI) insurance claims. This trend is largely attributed to intensified regulatory scrutiny and recent legal actions initiated by the Australian Securities and Investments Commission (ASIC).
- Sterling Insurance Enhances Professional Indemnity Offerings with New Lloyd's Binding Authority
Sterling Insurance has recently secured a new professional indemnity (PI) binding authority with Lloyd's, a development that promises to provide Australian brokers with greater control over product offerings and pricing structures.
- Mandatory Professional Indemnity Insurance for NSW Builders Effective July 2026
Starting 1 July 2026, builders in New South Wales (NSW) who engage in design-related activities will be required to hold professional indemnity (PI) insurance. This mandate is part of the Design and Building Practitioners Act (DBP Act), which aims to enhance accountability and quality within the construction industry.
- Rising Claims Challenge Australia's Compensation Scheme of Last Resort
Australia's Compensation Scheme of Last Resort (CSLR) is facing significant pressure due to a surge in claims linked to failed financial products. This uptick has led the Insurance Council of Australia (ICA) to call for structural reforms to ensure the scheme's sustainability.
- Escalating Professional Indemnity Claims in Australia's Financial Services Industry
Australia's financial services sector is currently experiencing a notable increase in professional indemnity (PI) claims, driven by intensified regulatory scrutiny and recent legal actions. This trend has significant implications for professionals and insurers operating within the industry.
- NSW Builders Required to Obtain Professional Indemnity Insurance by July 2026
Effective 1 July 2026, all registered building practitioners in New South Wales (NSW) will be mandated to hold professional indemnity (PI) insurance, as stipulated by the Design and Building Practitioners Act 2020.
- NSW Builders Required to Obtain Professional Indemnity Insurance by July 2026
Starting 1 July 2026, all registered building practitioners in New South Wales (NSW) will be mandated to hold professional indemnity (PI) insurance, as stipulated by the Design and Building Practitioners Act 2021.
- Rising Professional Indemnity Claims in Australia's Financial Services Sector
The Australian financial services sector is currently experiencing a significant increase in professional indemnity (PI) insurance claims, largely due to intensified regulatory scrutiny. This trend has profound implications for professionals and insurers operating within the industry.
- Australia's Compensation Scheme of Last Resort Faces Mounting Pressure
The Compensation Scheme of Last Resort (CSLR) in Australia is currently under significant strain due to a surge in claims linked to failed financial products. This situation has prompted industry leaders to advocate for structural reforms to ensure the scheme's sustainability and effectiveness.
- FAAA Challenges Proposed Increases to Professional Indemnity Insurance Limits
The Financial Advisers Association of Australia (FAAA) has recently voiced its opposition to proposed increases in professional indemnity (PI) insurance limits, cautioning that such changes could lead to significant cost burdens for financial advisers.
- Markel Unveils Tailored Professional Indemnity Insurance for Australian Market
Markel, a prominent US-based specialty insurer, has announced the launch of professional indemnity (PI) insurance products specifically designed for the Australian market. This strategic move comes in response to a notable reduction in PI insurance capacity over recent years, leaving many professionals seeking reliable coverage options.
- Financial Services Industry Emerges as Epicentre of Professional Indemnity Claims
The financial services sector in Australia has been identified as a focal point for professional indemnity (PI) claims, driven by heightened regulatory scrutiny and recent enforcement actions.
- FAAA Cautions Against Higher Professional Indemnity Insurance Limits
The Financial Advice Association of Australia (FAAA) has urged the Federal Government to reconsider any blanket increases to professional indemnity insurance (PII) requirements, expressing concerns over potential cost escalations for financial advisers. This caution comes in response to Treasury's consultation on potential reforms to PII within the financial services sector.
- New Professional Indemnity Insurance Available for Midwives' Intrapartum Care
As of 1 July 2025, the Department of Health, Disability and Ageing has introduced a professional indemnity insurance (PII) product specifically designed for midwives providing intrapartum care.
- Industry Bodies Call for Reforms in Professional Indemnity Insurance to Address Systemic Failures
In a concerted effort to enhance the effectiveness of professional indemnity (PI) insurance within Australia's financial services sector, leading industry bodies have submitted a joint proposal to the Treasury.
- BizCover and Zurich Collaborate to Enhance Professional Indemnity Insurance for Australian SMEs
In a significant development for Australian small and medium-sized enterprises (SMEs), BizCover has announced the addition of Zurich's Professional Indemnity (PI) insurance product to its online platform, effective from 3 March 2026.
- Markel Unveils Tailored Professional Indemnity Insurance for Australian Market
In a significant development for the Australian insurance market, Markel, a US-based specialty insurer, has launched professional indemnity (PI) insurance products tailored specifically for Australian businesses. This strategic move comes in response to a notable reduction in PI insurance capacity over recent years, leaving many professionals seeking reliable coverage options.
- Sterling Insurance Enhances PI Offerings with Lloyd's Binder
Sterling Insurance has successfully secured a new professional indemnity (PI) binding authority with Lloyd's, a move that promises to provide Australian brokers with greater control over product offerings and pricing structures.
- BizCover and Zurich Collaborate to Enhance Professional Indemnity Insurance for Australian SMEs
In a significant development for Australian small and medium-sized enterprises (SMEs), BizCover has announced the addition of Zurich's Professional Indemnity (PI) insurance product to its online platform, effective from 3 March 2026.
- Insurance Council of Australia Challenges Proposed Use of PI Insurance for Compensation Scheme
The Insurance Council of Australia (ICA) has recently voiced strong opposition to proposals suggesting the use of professional indemnity (PI) insurance as a funding mechanism for the Compensation Scheme of Last Resort (CSLR).
- ABC Insurance Faces Legal Setback in Professional Indemnity Insurance Dispute
In a recent legal development, ABC Insurance has been ordered by the New South Wales Court of Appeal to pay the legal costs incurred by the Law Society of NSW in a dispute over professional indemnity insurance (PII) for solicitors.
- BizCover and BHSI Collaborate to Provide Professional Indemnity Insurance for SMEs
In a significant development for small and medium-sized enterprises (SMEs) in Australia, BizCover has been appointed as the exclusive direct online distributor for Berkshire Hathaway Specialty Insurance's (BHSI) professional indemnity (PI) insurance products.
- Sterling Insurance Enhances PI Offerings with New Lloyd's Binding Authority
Sterling Insurance has recently secured a new professional indemnity (PI) binding authority with Lloyd's, a move that promises to provide Australian brokers with greater control over product offerings and pricing structures.
- Arch Insurance Australia Strengthens PI Team with Senior Underwriter Appointment
Arch Insurance Australia has announced the appointment of Jacqueline Kilday as Senior Professional Indemnity (PI) Underwriter for the Northern Region, effective immediately.
- Treasury's Initiative to Bolster Professional Indemnity Insurance and CSLR
The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement.
- Sterling Insurance's New Lloyd's Binder: A Boost for Professional Indemnity Offerings
Sterling Insurance has announced the acquisition of a new professional indemnity (PI) binding authority with Lloyd's, a move set to provide Australian brokers with greater control over product offerings and pricing structures.
- APRA Reports Surge in Public Liability and Professional Indemnity Insurance Costs
The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database (NCPD) statistics, highlighting a significant increase in public liability and professional indemnity (PI) insurance premiums. This trend poses financial challenges for businesses across the nation.
- Treasury Initiates Review of Professional Indemnity Insurance to Support CSLR
The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement.
- Landmark NSW Ruling: New Risks for Construction Liability Insurance
Recent developments in New South Wales have significantly altered the liability landscape for construction professionals. A landmark court ruling in the Pafburn case has removed the proportionate liability defence previously relied upon by developers and head contractors, thereby increasing their exposure to claims related to building defects.
- Upcover Introduces Management Liability Insurance for Australian SMEs
Sydney-based insurtech company Upcover has unveiled a new management liability insurance product designed specifically for small and medium-sized enterprises (SMEs) and sole traders in Australia. This offering aims to provide comprehensive protection against a range of risks that business owners may face.
- APRA's Findings: Stability in PI Claims and Decreasing Premiums
The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database, providing valuable insights into the professional indemnity (PI) insurance sector for the 2022 underwriting year. The data indicates that PI claims payments for non-facility business remained relatively stable at $1.
- Upcover's New Insurance Solutions for Australian Nurses
Sydney-based insurtech company Upcover has unveiled a new professional indemnity and public liability insurance product tailored specifically for nurses across Australia. This initiative aims to provide comprehensive coverage that meets the unique needs of nursing professionals, including nurse practitioners, in-patient nurses, doulas, and nursing students.
- Markel Introduces Tailored Professional Indemnity Insurance for Australian Businesses
In a significant development for the Australian insurance market, Markel, a US-based specialty insurer, has launched professional indemnity (PI) insurance products tailored specifically for Australian businesses. This strategic move comes in response to a notable reduction in PI insurance capacity over recent years, leaving many professionals seeking reliable coverage options.
- APRA Data Highlights Rising Costs in Public Liability and Professional Indemnity Insurance
The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database (NCPD) statistics, shedding light on the escalating costs associated with public liability and professional indemnity (PI) insurance in Australia.
- Gallagher Warns Builders of Legal Changes Affecting Professional Indemnity Insurance in NSW
Insurance broker Gallagher has issued a cautionary note to builders in New South Wales (NSW) regarding significant legal changes that are reshaping professional indemnity (PI) insurance requirements.
- Treasury Initiates Review of Professional Indemnity Insurance to Support CSLR
The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement.
- Upcover Introduces Specialised Insurance Solutions for Australian Nurses
Sydney-based insurtech company Upcover has unveiled a new professional indemnity and public liability insurance product tailored specifically for nurses across Australia. This initiative aims to provide comprehensive coverage that meets the unique needs of nursing professionals, including nurse practitioners, in-patient nurses, doulas, and nursing students.
- APRA's 2022 Data Shows Stable PI Claims and Premium Reduction
The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database, providing valuable insights into the professional indemnity (PI) insurance sector for the 2022 underwriting year. The data indicates that PI claims payments for non-facility business remained relatively stable at $1.
- Sterling Insurance Enhances PI Offerings with Lloyd's Binder
Sterling Insurance has successfully secured a new professional indemnity (PI) binding authority with Lloyd's, a move that promises to provide Australian brokers with greater control over product offerings and pricing structures.
- Treasury Initiates Consultation on Professional Indemnity Insurance Reforms
The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement.
- Upcover Introduces Specialised Insurance Solutions for Australian Nurses
Sydney-based insurtech company Upcover has unveiled a new professional indemnity and public liability insurance product tailored specifically for nurses across Australia. This initiative aims to provide comprehensive coverage that meets the unique needs of nursing professionals, including nurse practitioners, in-patient nurses, doulas, and nursing students.
- Treasury Initiates Consultation on Professional Indemnity Insurance Reforms
The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement.
- Upcover Introduces Specialised Insurance Solutions for Australian Nurses
Sydney-based insurtech company Upcover has unveiled a new professional indemnity and public liability insurance product tailored specifically for nurses across Australia. This initiative aims to provide comprehensive coverage that meets the unique needs of nursing professionals, including nurse practitioners, in-patient nurses, doulas, and nursing students.
- APRA Reports Stability in Professional Indemnity Claims with Decreasing Premiums
The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database, providing valuable insights into the professional indemnity (PI) insurance sector for the 2022 underwriting year. The data indicates that PI claims payments for non-facility business remained relatively stable at $1.
- ABC Insurance Offers New Professional Indemnity Option for NSW Solicitors
In a significant development for New South Wales' legal community, ABC Insurance has announced its entry into the professional indemnity (PI) insurance market, providing solicitors with an alternative to the longstanding sole provider, Lawcover.
- ProRisk Unveils Comprehensive Professional Indemnity Insurance via ProBind
Professional Risk Underwriting Pty Ltd (ProRisk) has launched a new Professional Indemnity (PI) Insurance policy available through their ProBind platform.
- Professional Bodies Advocate for Insurer Recognition of Risk-Reducing Schemes
The Professional Standards Councils are actively seeking to enhance insurer recognition of schemes designed to improve risk management among professionals. These schemes, established under state and territory legislation, aim to limit liability for members in exchange for adherence to stringent risk management practices, including mandatory professional indemnity (PI) insurance.
- Rising Professional Indemnity Insurance Costs Impact Australian Businesses
The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database (NCPD) statistics, highlighting a significant increase in professional indemnity (PI) insurance premiums. Since 2015, these premiums have risen by 27%, posing financial challenges for businesses across the nation.
- Australia's Construction Boom Fuels Demand for Professional Indemnity Specialists
Australia's construction industry is experiencing unprecedented growth, leading to a heightened demand for professional indemnity (PI) insurance specialists. This surge is driven by a combination of large-scale infrastructure projects, evolving contractual complexities, and new regulatory requirements.
- Evolving Trends in Professional Indemnity Insurance: Opportunities and Challenges
The professional indemnity (PI) insurance market is undergoing notable shifts, presenting both opportunities and challenges for various sectors. Recent trends indicate a softening market, with premium reductions of approximately 5–10% available for low-risk profiles, particularly within financial services.
- Back Bay Professional Risks Debuts in Australia with Lloyd's-Backed Indemnity
Market Lane Insurance Group has introduced Back Bay Professional Risks, a new underwriting division offering professional indemnity insurance tailored for consulting engineers and a range of professional service providers in Australia. This expansion addresses the growing demand for specialized insurance solutions in the professional services sector.
- BIA Introduces Integrated Indemnity and Liability Insurance Solution
Berkley Insurance Australia (BIA) has announced the launch of a combined professional indemnity (PI) and public liability (PL) insurance product, set to be available from June 1 through the Steadfast Client Trading Platform (SCTP).
- Markel Unveils Tailored Professional Indemnity Insurance for Australian Market
Markel, a US-based specialty insurer, has launched a suite of professional indemnity (PI) insurance products specifically designed for the Australian market. These offerings cater to professionals in accounting, construction, design and construct, insurance, media, and miscellaneous sectors.
- BIA's New Combined Indemnity and Liability Insurance Now Available
Berkley Insurance Australia (BIA) has announced the launch of a combined professional indemnity (PI) and public liability (PL) insurance product, set to be available from June 1 through the Steadfast Client Trading Platform (SCTP).
- Sterling Insurance Enhances PI Offerings with Lloyd's Binder
Sterling Insurance has successfully secured a new professional indemnity (PI) binding authority with Lloyd's, a move that promises to provide Australian brokers with greater control over product offerings and pricing structures.
- APRA's 2022 Data Shows Stable PI Claims and Premium Reduction
The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database, providing valuable insights into the professional indemnity (PI) insurance sector for the 2022 underwriting year. The data indicates that PI claims payments for non-facility business remained relatively stable at $1.
- Markel's New Professional Indemnity Insurance Solutions for Australian Professionals
In April 2024, Markel, a US-based specialty insurer, unveiled a suite of professional indemnity (PI) insurance products specifically designed for the Australian market. These offerings cater to professionals in accounting, construction, design and construct, insurance, media, and miscellaneous sectors.
- APRA's Regulatory Action on Pacific International Insurance's Binder Management
In November 2024, the Australian Prudential Regulation Authority (APRA) directed Pacific International Insurance to increase its prudential capital requirement by $10 million. This action was taken in response to identified deficiencies in the insurer's oversight and control of its binder arrangements with intermediary partners.
- Australian Small Businesses Advocate for Insurance Premium Reforms
In October 2025, the Australian Chamber of Commerce and Industry, in collaboration with the Insurance Council of Australia, released a report highlighting the significant challenges faced by small and medium-sized enterprises (SMEs) due to soaring insurance premiums.
- NSW Builders Required to Obtain Professional Indemnity Insurance by July 2026
Starting 1 July 2026, all registered building practitioners in New South Wales (NSW) will be mandated to hold professional indemnity (PI) insurance, as stipulated by the Design and Building Practitioners Act 2021.
- Competitive Pressures Drive Down Construction Insurance Premiums in Australia
The Australian construction insurance market has experienced a notable shift in 2025, with premiums decreasing across various lines due to heightened competition among insurers. This trend offers significant financial relief to builders and contractors navigating the complexities of the industry.
