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:
This weeks wrap covers Australias new ban on using adverse genetic test results in life insurance, a landmark $2m court penalty against Hollard for claim handling failures, a $1.35m cyber‑security penalty highlighting SME cyber risks, and Suncorp data showing storm hotspots shift across states. Listeners are urged to compare cover thoughtfully, keep good claim records, strengthen cyber basics, and review sums insured and severe‑weather options. For free quotes and broker help, visit insuranceonline.com.au.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday, 15 October 2026.
First, a big change for life cover. From 8 October, life insurers can no longer use adverse genetic test results when assessing new policies, and the Australian Financial Complaints Authority, or AFCA, has updated its rules to hear any complaints about misuse. That should remove a barrier for people considering genetic screening. If youre comparing life insurance, focus on the cover you need and your budget—then get free quotes and broker help to weigh policy options side by side.
Meanwhile, a Federal Court fine of $2 million against Hollard has put claim handling under the spotlight. The court found a breach of the insurers duty of utmost good faith after lengthy delays on a storm‑damage claim. Why it matters: your insurer must act fairly and promptly. Keep photos, timelines and emails, and consider using a broker who can advocate at claim time as well as help you compare value—not just price—when you buy.
On cyber risk, a financial advice firm has been penalised $1.35 million for inadequate cyber controls after a 2022 data breach affecting more than nine thousand clients. The corporate regulator, ASIC—the Australian Securities and Investments Commission—says businesses must get the basics right. For small and mid-sized firms, that means multi‑factor authentication, staff training, backups, and considering cyber liability cover within your broader business insurance—quotes are quick, and a broker can explain whats included.
And Suncorps new claims analysis shows storm hotspots shift year to year across most states. Suburbs in Queensland, New South Wales, Victoria and South Australia have moved up and down the list as different systems hit. The takeaway: risk isnt fixed at the postcode level. Check your home or business sum insured, review flood, storm and temporary‑accommodation or business interruption benefits, and ask about mitigation credits if youve hardened your property.
Thats it for this week. For fast, free quotes and Australia‑wide broker support on personal and business insurance, visit 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
Loss of Use: Insurance coverage that pays for the additional living expenses if your home is uninhabitable due to a covered loss.
