Welcome to the Insurance Online News podcast with your host, Paige Estritori, where we deliver the latest and most significant news from the world of insurance in Australia. Our dedicated team works tirelessly to bring you the freshest updates, focusing on the stories that matter the most to both Australian businesses and individual consumers over the past week.
Through meticulous research, we transform these developments into original content that not only keeps you informed but also offers deep insights into the insurance landscape as it stands today. Our podcast distills these crucial updates into a format that's both succinct and captivating. For professionals within the insurance realm or personal consumers keen on keeping up with insurance trends, look no further. Paige Estritori brings you all the essential information daily, making our podcast the ultimate destination for trustworthy and impactful insurance news.
This Week:
Brisbanes hailstorm triggers more than 11,000 insurance claims and a significant-event response. Commercial insurance rates keep easing, giving SMEs a chance to re‑shop cover. AFCA orders a higher payout in a clinic flood dispute, highlighting documentation and expert assessment. A new study shows flood risk is knocking about $42b off home values, reinforcing the need to check flood cover and sums insured. Presenter: Paige Estritori.
Hello and welcome to Insurance Online News with Paige Estritori, for Thursday 30 October 2025.
First, Brisbanes weekend hailstorm has been labelled a significant event by the industry, with more than eleven thousand claims lodged so far. Power and clean‑up crews have been flat out, and more storms are possible. If you were hit, take photos before repairs, keep receipts, and lodge your car, home or business claim promptly. If youre unsure what your policy covers, compare options and talk to a broker so you dont end up underinsured next time.
Next up, commercial insurance premiums are easing again. Market analysts say theres so much new capital that rates have fallen for a seventh straight quarter. Thats good news for small and mid‑sized businesses. Its a smart moment to re‑shop your liability, property and cyber cover, and ask a broker to remarket your policies so you keep essential protections while trimming costs.
Meanwhile, the Australian Financial Complaints Authority, or AFCA, has told an insurer to lift a payout to a dental clinic after a burst flexi‑hose led to flooding. AFCA criticised both sides for a lack of readiness and told the insurer to work with experts to assess damage properly. For any business, the lesson is simple: document everything early, keep maintenance records, and get independent reports if needed. If a dispute drags on, you can escalate to AFCA.
And a new analysis estimates homes in flood zones are collectively worth about forty‑two billion dollars less than if there were no flood risk. That gap reflects ongoing affordability pressure and risk‑based pricing. If you live near rivers or creeks, check that flood is included, confirm your rebuild sum reflects todays costs, and ask about mitigation discounts. Comparing policies side by side can save money and prevent nasty surprises at claim time.
Thats it for this week. For free, fast personal and business insurance quotes, with access to independent brokers nationwide and help comparing cover, head to insuranceonline.com.au. Im Paige Estritori — thanks for listening, and stay safe out there.
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
Follow us!
We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, tips, tricks, resources and information.
Strata insurance is a specialized form of insurance designed to protect the shared areas of a property, typically seen in apartment complexes or townhouses. It covers communal assets like hallways, gardens, and recreational facilities. This type of insurance is crucial for both property owners and managers, as it safeguards against potential risks and liabilities associated with shared living spaces. - read more
Strata insurance is a specialized form of insurance designed to protect the common property and assets of a strata titled property, which is especially important for property owners in Australia. It provides coverage for shared areas such as hallways, gardens, and pools, as well as liability protection for incidents that may occur in these common spaces. - read more
Strata insurance is a specialized type of insurance designed to cover multi-unit properties like apartment buildings and townhouses. It protects the common property and the shared interests of all owners within the strata scheme, offering coverage for facilities like pools, gardens, and shared structures. - read more
Strata insurance is a specialized type of insurance designed to cover common properties and shared facilities in multi-unit developments, such as apartments and townhouses. This insurance provides protection for the building structure, common areas, and sometimes the individual units against various risks like fire, theft, and natural disasters. - read more
Strata insurance is a type of cover designed specifically for properties that are subdivided into individual lots or units, which is common in residential and mixed-use developments. It protects the overall structure and shared areas of the property and is usually managed by a strata management body. This insurance is crucial not just for safeguarding the building itself but also for ensuring that common property, such as gardens, hallways, and balconies, is covered against a range of risks. - read more
Strata property owners in North and Central Queensland are being encouraged to take advantage of newly introduced federal and state initiatives designed to reduce insurance premiums and enhance cyclone resilience. These programs offer financial incentives for property upgrades that can lead to significant savings on insurance costs. - read more
The recently released Strata Futures Report has put forth a comprehensive set of 64 recommendations aimed at transforming Australia's strata industry. Central to these proposals is the establishment of a national task force, co-funded by the government, to spearhead reforms and foster a high-performing, transparent, and sustainable model of property ownership and governance. - read more
In a significant development for the strata management sector, the Strata Community Association New South Wales (SCA NSW) has announced a phased plan to eliminate insurance commissions for managing agents, commencing January 1, 2026. This initiative aims to bolster transparency and trust between strata managers and property owners. - read more
Recent revelations have cast a spotlight on Netstrata, a prominent strata management firm in Australia, for imposing insurance brokerage fees significantly higher than industry norms. This development has ignited a broader discussion about the need for transparency and reform within the strata management sector. - read more
Bobby Lehane, CEO of PICA Group, has issued a cautionary statement regarding the future of the strata management sector in Australia. He emphasized that eliminating insurance commissions could pose a significant threat to the industry's viability, drawing parallels to the challenges faced by the aged care sector. - read more
