Insurance News from Compare Life Insurance

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Insurance News

NSW Strata Commission Ban: A Catalyst for Industry Reform

07 Feb 2026: Paige Estritori

The New South Wales (NSW) government's proposal to ban commissions on strata insurance has ignited a contentious debate between consumer advocacy groups and industry leaders. This reform aims to eliminate potential conflicts of interest and enhance transparency within the strata management sector. - read more

Queensland Strata Owners Advised to Leverage New Premium Reduction Programs

07 Feb 2026: Paige Estritori

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

Australian Insurers Struggle to Keep Pace with Emerging Risks

07 Feb 2026: Paige Estritori

Recent findings from the PwC Insurance Banana Skins Survey reveal that Australian insurers are trailing their global counterparts in risk preparedness. The survey, which gathered insights from 698 insurance executives across 42 territories, indicates that Australian insurers scored 6.6% lower on the Preparedness Index compared to the global average. This gap is particularly concerning as the industry faces escalating challenges from cyber threats and the rapid advancement of artificial intelligence (AI). - read more

Significant Increases in Australian Home Insurance Premiums

07 Feb 2026: Paige Estritori

Australian homeowners are experiencing substantial increases in home insurance premiums, with the average premium rising by 16% over the past year. Consumer advocacy group Choice reports that some insurers, including Kogan, RAC, and Honey, have raised their rates by more than 30%. These hikes are attributed to various factors, including high supply chain inflation, increased claims costs, and higher reinsurance expenses due to severe weather events. - read more

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Life Insurance Articles

How to Compare Income Protection Policies When You Have a Medical History

In today's ever-changing world, financial security is a cornerstone of peace of mind, particularly for Australians grappling with medical histories. Income protection insurance emerges as a pivotal solution, safeguarding not only the individual’s fiscal health but the well-being of their dependents. This introduction explores the nuances of income protection insurance and its particular significance for those with pre-existing medical conditions. - read more

Smart Insurance Solutions to Protect Your Financial Future

In today’s unpredictable world, insurance plays a critical role in safeguarding your financial future. From unexpected medical bills to protecting your home and business, the right insurance can be a safety net that helps you navigate life’s uncertainties. - read more

How to Prepare for a Hassle-Free Life Insurance Claim

Being prepared when it comes to life insurance claims can make a world of difference. Proper preparation helps you prevent delays and denials, ensuring that your loved ones receive the financial support promised by your policy without unnecessary hold-ups. By paying attention to the details, you can streamline the claims process, giving you and your family peace of mind during what is already a stressful time. - read more

Finding Accidental Coverage When Comprehensive Income Protection Isn't an Option

Income protection is an integral part of maintaining your financial security, especially in the event that unforeseen illnesses or injuries prevent you from working. Enabling you to receive a percentage of your regular income, this type of insurance provides a safety net, ensuring that you can continue to cover your living expenses and financial obligations whilst recovering. - read more

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Knowledgebase

Insurance:
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of potential financial loss.