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:
Weekly wrap for 30 July 2026: Canberra proposes extending exemptions to the four‑day pause on some add‑on insurance to 2031; the Insurance Councils industry code review advances with calls for stronger, enforceable consumer protections; ransomware payments keep falling as premiums ease but gaps remain for AI‑driven risks; and the ACCC clears Allianz Partners acquisition of nibs travel insurance business. Takeaways: compare add‑ons before buying, know your code rights, prepare cyber response and tailor cover, and compare travel policy details before you fly.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday, 30 July 2026.
First up, Canberra has opened consultation on keeping exemptions to the deferred sales model—the four‑day pause on add‑on insurance—for products like comprehensive motor and home building until 2031. For consumers, that pause still gives breathing room to compare rather than buy on the spot. For businesses that sell add‑ons, its a reminder to check processes and training meet the rules. If youre offered add‑ons at checkout, take the time to compare cover and costs, and consider asking a broker to sanity‑check the inclusions.
Next, the Insurance Council of Australia says its review of the industry code has moved to the next stage, with consumer groups pushing for stronger protections and contractual enforceability. Proposals include tighter rules around cash settlements and even automatic acceptance of a home or motor claim if theres no decision after 12 months, with defined exceptions. Why it matters: clearer standards can speed up claims and reduce disputes. Keep good records and know your rights under the code—broker support can help if a claim stalls.
Meanwhile, a new market report finds most Australian organisations hit by ransomware are refusing to pay, with payments dropping to around four per cent over the past couple of years. Cyber premiums have eased again, but gaps remain for emerging risks like artificial intelligence‑enabled attacks and single‑vendor outages. For SMEs, that points to two actions: line up incident‑response partners before you need them, and tailor your cyber policy to cover data restoration, business interruption, and regulatory notifications.
And finally, the competition watchdog—the ACCC, or Australian Competition and Consumer Commission—has cleared Allianz Partners to acquire nibs travel insurance arm, including a long distribution deal. The regulator says competition wont be substantially reduced, so travellers will still have alternatives. If youre heading overseas, dont rely on the brand alone: compare medical limits, cancellation clauses, and any pre‑existing condition rules, and make sure the policy matches your itinerary.
Thats it for this week. For free quotes, easy comparisons, and Australia‑wide broker support across personal and business cover, head to insuranceonline.com.au.
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.
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Knowledgebase
Coinsurance: A percentage of the cost of a covered healthcare service that you pay after you have paid your deductible.
