- Why adviser capacity still matters when reviewing key person insurance
Recent industry reporting suggests Australia’s financial advice market may be moving from contraction towards a more stable phase, after several years of adviser exits, higher compliance costs and changing professional standards.
- Life Insurance Code changes: why businesses should not wait
Australia’s life insurance sector is again focused on conduct standards, with industry attention shifting from review recommendations to the practical work of updating the Life Insurance Code of Practice. For households, the discussion is about clearer communication, fairer claims handling and better support when people are vulnerable.
- Why underinsurance warnings matter for businesses with key people
Recent industry reporting has again put Australia’s life insurance protection gap in the spotlight, with the life insurance sector warning that too many households and businesses remain exposed if illness, injury or death removes a major income source.
- Latest APRA life insurance signals put key person cover back on the review list
APRA's latest quarterly life insurance performance update has added another marker to the recovery story in Australia's life insurance sector. The overall message is more settled than the volatility seen in recent years, with insurers continuing to operate in a more disciplined pricing and capital environment.
- Why Claims Handling Scrutiny Matters for Key Person Insurance
Recent regulatory attention on death benefit claims in superannuation has put a familiar issue back in front of Australian policyholders: insurance is only as useful as the process that allows a benefit to be paid when it is needed.
- What Simpler Advice Rules Could Mean for Key Person Insurance Reviews
Recent industry coverage of the federal government's financial advice reform agenda points to a practical shift for life insurance customers: advice may become easier to deliver in shorter, clearer and more targeted formats. For business owners, that could be a welcome development.
- Why Advice Reform Matters for Businesses Relying on Key Person Cover
Australia’s ongoing financial advice reform agenda is again putting life insurance access under the spotlight. Recent industry reporting has focused on whether changes to advice rules can make it easier for consumers and business owners to receive practical guidance without adding unnecessary cost or complexity.
- What a steadier life insurance market means for key person cover
Recent industry reporting on APRA’s latest life insurance data suggests Australia’s life insurance sector is entering a more stable phase after several years of pricing pressure, product redesign and sharper claims management.
- Why Longer Lives May Change the Way Businesses Think About Keyman Cover
Australians are living longer, but new industry research suggests those extra years are not always being lived in good health.
- ASIC’s Latest Levy Estimates Put Insurance Costs Under the Spotlight
ASIC’s latest 2025–26 industry funding estimates have put fresh attention on the cost of regulating Australia’s insurance and financial advice sectors. Released on 13 July 2026, the figures show ASIC expects to recover $400.5 million across regulated industries for the financial year, up 19 per cent on the previous year.
- Life insurer profits have softened — why business owners should pay attention
Australia’s life insurance sector entered the 2026 financial year with a clear reminder that market conditions can shift quickly.
- What the Life Insurance Code review could mean for key person cover
Australia’s life insurance rule book is set for a significant rethink after the independent review of the Life Insurance Code of Practice released its final report on 30 June 2026.
- What Acenda's Workplace Dispute Means for Life Insurance Customers
Acenda, one of Australia and New Zealand's largest life insurance groups, is facing fresh scrutiny after the Finance Sector Union raised concerns about a proposed enterprise agreement for staff.
- APRA and ASIC Address TPD Insurance Sustainability Challenges
In a recent joint CEO roundtable, the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) highlighted the pressing need for life insurers to take decisive action to address sustainability challenges in the Total and Permanent Disability (TPD) insurance market.
- Surge in Income Protection Payment Delays Raises Concerns
Recent findings from the Life Insurance Code Compliance Committee (Life CCC) have revealed a 67% increase in violations related to timely income protection payments. This surge raises significant concerns about insurer compliance and the impact on customers who rely on these benefits during challenging times.
- CALI Seeks Exemption for Life Insurers in Lead Generation Regulations
The Council of Australian Life Insurers (CALI) has recently called for a specific exemption for life insurers from proposed regulatory restrictions on lead generation activities. This move aims to ensure that consumers continue to have access to life insurance products through various channels, including online comparison websites.
- Treasury Unveils Draft Regulations for Genetic Test Ban in Life Insurance
The Australian Treasury has released draft regulations in preparation for the forthcoming ban on the use of adverse genetic test results in life insurance underwriting, set to commence on 8 October 2026.
- Ongoing Challenges in Life Insurance Service Standards
The Financial Rights Legal Centre (FRLC) has raised concerns regarding the life insurance sector's adherence to service standards, highlighting persistent issues such as claim delays and discriminatory practices. Despite generally high claim acceptance rates, certain groups continue to face significant challenges during the claims process.
- NEOS Unveils Futura Protection to Streamline Life Insurance
NEOS, a prominent player in the Australian life insurance market, has launched Futura Protection, a new platform designed to simplify the insurance process for financial advisers and their clients. This initiative aims to address the industry's challenges related to complexity and high costs.
- Significant Increases in Super Insurance Premiums Announced
AustralianSuper, the nation's largest superannuation fund, has recently informed its members of impending substantial increases in insurance premiums. Effective from May 30, 2026, life insurance premiums will rise by 20%, while total and permanent disability (TPD) cover premiums are set to surge by 40%.
- HESTA Announces Significant Insurance Fee Reductions and Enhanced Member Protections
HESTA, a prominent Australian superannuation fund, has unveiled a series of changes aimed at making insurance coverage more accessible and affordable for its members.
- Regulators Call for Action on Escalating TPD Insurance Pressures
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have jointly raised concerns regarding the growing pressures on Total and Permanent Disability (TPD) insurance within the life insurance sector.
- APRA Enforces New Licence Conditions on Fiducian
The Australian Prudential Regulation Authority (APRA) has recently imposed additional licence conditions on Fiducian Portfolio Services Limited (Fiducian) to address significant concerns regarding its investment governance frameworks and board effectiveness. This action underscores APRA's commitment to ensuring robust oversight within the superannuation sector.
- Australia Bans Use of Genetic Test Results in Life Insurance Underwriting
In a landmark move, the Australian Parliament has passed legislation prohibiting life insurers from using adverse genetic test results in their underwriting processes. This reform is set to take effect on 8 October 2026, marking a significant step towards eliminating genetic discrimination in the insurance industry.
- Zurich Australia Announces Acquisition of ClearView Wealth
Zurich Financial Services Australia has announced its agreement to acquire ClearView Wealth for approximately A$415 million. This strategic acquisition is poised to enhance Zurich's footprint in the Australian life insurance sector, combining its robust capital foundation with ClearView's established product and advisory relationships.
- Disability Claims Account for Majority of Life Insurance Disputes in 2025
The Australian Prudential Regulation Authority (APRA) has released data indicating that disability income insurance (DII) and total and permanent disablement (TPD) claims were responsible for 88% of all life insurance disputes in 2025. This significant figure underscores the challenges policyholders face when navigating claims related to disability coverage.
- Hostplus and MetLife Australia Renew Group Insurance Partnership
Hostplus, one of Australia's leading superannuation funds, has announced the extension of its group insurance partnership with MetLife Australia until June 2028. This renewed collaboration aims to enhance the insurance services provided to Hostplus members, focusing on improved claims processing, underwriting, and overall member experience.
- TAL and Acenda Recognised as Leading Life Insurers in 2026
In the recently announced 2026 Life Insurance Awards by Money magazine, TAL and Acenda have been recognised as the top life insurers in Australia.
- APRA Advocates for Strengthened AI Risk Management in Financial Institutions
The Australian Prudential Regulation Authority (APRA) has issued a call to action for banks, insurers, and superannuation trustees to enhance their management of risks associated with artificial intelligence (AI). This directive comes in response to the rapid evolution and adoption of AI technologies within the financial sector.
- APRA Enforces Additional Capital Requirement on Sovereign Insurance Australia
The Australian Prudential Regulation Authority (APRA) has recently imposed an additional $2 million capital requirement on Sovereign Insurance Australia Pty Ltd (SIA). This decision stems from identified weaknesses in SIA's management of non-financial risks and regulatory reporting.
- ACCC Initiates Review of Zurich's Proposed Acquisition of ClearView Wealth
The Australian Competition and Consumer Commission (ACCC) has commenced a review of Zurich Financial Services' proposed acquisition of ClearView Wealth, a listed life insurer. This assessment aims to evaluate the potential impact of the merger on competition within the Australian life insurance market.
- Significant Decline in Trauma Insurance Coverage Puts Australians at Financial Risk
Recent data from the Australian Prudential Regulation Authority (APRA) indicates a concerning decline in the number of Australians holding trauma insurance, a critical safety net for individuals facing serious illnesses or injuries. Between June 2020 and June 2025, the number of trauma-insured individuals fell by 16%, from 1.
- Australia Enacts Ban on Genetic Discrimination in Life Insurance
In a landmark move, Australia has passed legislation prohibiting life insurers from using individuals' genetic test results in their underwriting processes. This reform aims to eliminate genetic discrimination, thereby encouraging more Australians to undergo potentially life-saving genetic testing without fear of insurance repercussions.
- Interim Review Urges Mental Health Coverage Reforms in Life Insurance
A recent interim report reviewing Australia's Life Insurance Code of Practice has raised concerns about the industry's approach to mental health coverage. The report suggests that proposed changes by life insurers may represent a regression from existing commitments, potentially undermining support for individuals with mental health conditions.
- Soaring Insurance Premiums Jeopardize Financial Security for Australian Retirees
Australian retirees are facing increasing financial strain as insurance premiums continue to rise sharply, outpacing inflation and wage growth. This trend is forcing many on fixed incomes to make difficult decisions about maintaining essential insurance coverage.
- How Rising Insurance Premiums Are Impacting Australian Retirees
In recent years, Australian retirees have faced a growing challenge: the escalating cost of insurance premiums. This trend is not only straining their fixed incomes but also jeopardising their financial security during retirement.
- Australia Implements Ban on Genetic Test Results in Life Insurance Underwriting
The Australian government has recently enacted legislation that prohibits life insurance companies from using adverse genetic test results in their underwriting processes. This move addresses longstanding concerns that fear of genetic discrimination has deterred individuals from undergoing potentially life-saving genetic testing.
- Regulatory Review: ASIC and APRA Evaluate Life Insurance Premium Practices
The Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) have jointly released an update on their review of life insurance premium practices.
- Swiss Re Suspends New Life Insurance Operations in Australia
Swiss Re Life & Health Australia has announced a suspension of new life insurance business activities in the country, effective October 2025. This decision stems from concerns over the sustainability of Total Permanent Disability (TPD) insurance products, which have seen a significant rise in claims, particularly related to mental health.
- AIA Australia Highlights Need for Structural Reform in Life Insurance
Damien Mu, CEO of AIA Australia, has raised concerns about the sustainability of the current life insurance model, citing a significant increase in mental health claims and economic volatility.
- Australian Life Insurance Market Poised for Significant Growth
Australia's life insurance market is on a trajectory to reach $19.8 billion by 2029, according to a recent report by GlobalData. This growth is driven by a combination of demographic shifts, economic factors, and innovation in insurance products.
