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In the rapidly evolving digital landscape, Australian insurers are raising concerns that artificial intelligence (AI)-driven cyber threats are advancing at a pace that outstrips current market pricing models. This development poses significant challenges for the insurance industry, particularly for tradespeople and small business owners who rely on comprehensive coverage to safeguard their operations. - read more
In a strategic move to bolster its service offerings, Aviso WA has announced the acquisition of Wray Insurance, a well-established insurance brokerage in Western Australia. This acquisition is set to enhance Aviso WA's capabilities and expand its client base, providing more comprehensive insurance solutions to tradespeople and small business owners in the region. - read more
Recent data indicates a substantial increase in mental health-related claims, exerting considerable pressure on Australia's income support safety net. This trend underscores the urgent need for systemic reforms to address the growing demand for mental health support and the sustainability of income protection mechanisms. - read more
The Council of Australian Life Insurers (CALI) has announced an independent review of the Life Insurance Code of Practice, a move welcomed by industry stakeholders aiming to bolster consumer trust and protections. This review signifies a proactive step towards ensuring that the Code remains relevant and effective in addressing the evolving needs of policyholders. - read more