Insurance News from Income Insurance Australia

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News items on this page are prepared by our editorial team as summaries of publicly available news reports and official announcements. See linked news sources where available. The following news items are for informational purposes only and are not independent journalism.

Insurance News

Australian General Insurers Report Record $7.3 Billion Profit

18 Jan 2026: Paige Estritori

The Australian general insurance sector has reported a remarkable after-tax profit of $7.3 billion for the last financial year, marking its most substantial earnings in over ten years. This significant increase is primarily attributed to a decrease in catastrophe-related losses and robust investment returns. - read more

Australian General Insurance Premiums Set to Surpass $144 Billion by 2029

18 Jan 2026: Paige Estritori

The Australian general insurance market is on a trajectory to see direct written premiums (DWP) exceed $144 billion by 2029, according to projections from data and analytics firm GlobalData. This anticipated growth is largely fueled by heightened demand for coverage in response to the increasing frequency of natural disasters. - read more

ASIC Initiates Legal Proceedings Against Australian Super for Claim Delays

10 Jan 2026: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has initiated legal action against Australian Super, the nation's largest superannuation fund, alleging significant delays in processing nearly 7,000 death benefit claims. These delays, some extending up to four years, have raised serious concerns about the efficiency and fairness of the fund's claims handling processes. - read more

TAL's Health Sense Plus Now Covers Income Protection

02 Jan 2026: Paige Estritori

In a strategic move to make life insurance more relevant to younger Australians, TAL has expanded its Health Sense Plus program to encompass income protection policies. This initiative allows advisers to offer clients enhanced value through a straightforward preventative health engagement. - read more

APRA Calls for Sustainable Reforms in Income Protection Insurance

02 Jan 2026: Paige Estritori

The Australian Prudential Regulation Authority (APRA) has expressed concerns regarding the sustainability of income protection insurance, following significant losses within the industry. Over a five-year period, insurers have reported losses totaling $2.5 billion on this product. - read more

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Life Insurance Articles

Preparing for the Unexpected: Why Income Protection is Essential for Financial Security

Life's unpredictability can often bring unforeseen challenges, particularly when it comes to our finances. One day you might be climbing the career ladder, the next you could find yourself unable to work due to illness or injury. This is where income protection insurance steps in, serving as a financial safety net that ensures you can continue to meet your living expenses, even when the unexpected happens. - read more

The Essential Role of Income Insurance in Your Financial Plan

An income insurance policy, often referred to as income protection insurance, is a financial safety net designed to provide you with a steady income stream if you're unable to work due to illness or injury. It ensures that you can still support yourself and your family, even when unforeseen medical conditions prevent you from earning a salary. This policy typically covers a percentage of your pre-tax income, helping to alleviate the financial burden during recovery periods. - read more

Understanding Income Protection Insurance: A Comprehensive Guide for Australians

Income protection insurance is an essential component of financial security for Australians, designed to provide a safety net by replacing a portion of your income if you're unable to work due to illness or injury. Despite its critical role in safeguarding livelihoods, it's often overlooked in personal financial planning. - read more

Breaking Down Common Income Protection Insurance Terms

Income protection insurance is designed to provide financial support if you're unable to work due to illness or injury. It aims to replace a portion of your income during such times, ensuring you can maintain your lifestyle and meet financial obligations. - read more

Income Protection Insurance: A Must-Have for Australian Adults

Insurance is a crucial component of financial planning. While many Australians understand the importance of life insurance, there's another vital type of coverage that often gets overlooked: income protection insurance. - read more

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