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:
Paige covers four stories for 19 March 2026: Queensland floods exceed 2,000 claims and a Bundaberg levee push as a new cyclone risk looms; AFCA expands powers from 12 March to include receiving banks in scam cases and to name non‑compliant firms; two AFCA rulings reinforce customer rights on storm and home damage claims; and insurers with government release resilience investment principles as Cyclone Alfreds final insured loss hits about $1.9b. Takeaways: check flood cover, lodge early, strengthen cyber and fraud protection, document claims, and ask brokers about risk‑reduction upgrades and policy options.
Hello and welcome to Insurance Online News with me, Paige Estritori, for Thursday, 19 March 2026.
First up, Queenslands floods have triggered more than two thousand claims. The industry says many losses in Bundaberg could have been avoided if the long‑planned East levee was in place, and theres a fresh cyclone risk flagged for the states north. If youre affected, document damage, lodge early, and check whether flood is listed as a covered event on your home or business policy. If youre unsure, compare options and get guidance from an independent broker so youre not underinsured next time.
Meanwhile, the Australian Financial Complaints Authority, or AFCA, has widened its powers from 12 March. It can now look at the role of receiving banks in scam cases, and it can publish the names of firms that dont comply with its determinations. Thats a real nudge for better outcomes. For households and small businesses, move fast if money goes missing—contact your bank, gather records, and escalate to AFCA if needed. And consider whether your cyber and fraud protections—personal or SME—are up to date.
On claims handling, two new AFCA decisions matter for customers. One requires an insurer to honour a home damage claim it first approved and then tried to reverse, including reinstating the renewal and paying modest compensation. Another tells an insurer to accept a vulnerable customers storm‑related ceiling collapse. The lesson is simple: keep photos, reports and timelines, and dont hesitate to challenge a decision. A broker can help frame a dispute and steer you through next steps.
And finally, insurers and the federal government have agreed guiding principles to target resilience spending—think levees, home upgrades and community defences. This comes as the final loss estimate for last years Ex‑Tropical Cyclone Alfred landed at about $1.9 billion. Risk reduction wont change premiums overnight, but upgrades can cut exposure and sometimes earn discounts. Ask your broker what improvements your home or business could make and how that might influence coverage and excesses.
Thats it for today. For free quotes, easy comparisons and expert broker support across personal and business insurance, head to insuranceonline.com.au. Thanks for listening, Im Paige Estritori. Stay safe, and Ill catch you next week.
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.
Follow us!
We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, resources and information.
Travelling is an exciting adventure, but it comes with its own set of uncertainties. That's where travel insurance steps in, offering peace of mind by covering unforeseen expenses and emergencies. However, filing a travel insurance claim can sometimes be a daunting process. - read more
When it comes to travelling abroad, there's more to preparation than just packing the right clothes and booking your flights. For Australian travellers venturing overseas, assembling a financial travel kit is just as vital as a passport. This kit serves as your safeguard, ensuring that even when faced with the unpredictable, your journey remains as smooth as possible. - read more
Welcome to a journey of discovery where the vibrant cultures, stunning landscapes, and rich history of Southeast Asia await. Australian travellers have long been captivated by the allure of our northern neighbours, seeking adventures that not only promise unforgettable experiences but also offer remarkable value for money. - read more
Travel insurance fraud involves deceitful practices that take advantage of insurance policies designed to offer protection against travel-related risks. It can manifest in various forms, such as exaggerated claims or false reporting of lost items, aiming to gain an undeserved financial benefit from the insurer. - read more
Traveling overseas is an exciting experience yet can be challenging, especially for Australians on a budget. With careful planning and budgeting, it is possible to make the most out of your trip without breaking the bank. This article provides valuable money-saving tips for Australians looking to explore the world on a restricted budget. - read more
Recent research conducted by the Insurance Council of Australia (ICA) and the Department of Foreign Affairs and Trade (DFAT) has unveiled a concerning trend: approximately 14% of Australian travellers embark on international journeys without any form of travel insurance. This statistic has prompted Allianz Partners to urge Australians to reconsider the importance of securing adequate coverage before travelling abroad. - read more
Southern Cross Travel Insurance (SCTI) has reported a notable rise in high-cost travel insurance claims, underscoring the escalating medical expenses faced by Australian travellers abroad. The insurer's most expensive claim last year amounted to $672,630, a 259% increase compared to the previous year's highest claim. - read more
In response to the ongoing conflict in the Middle East, Australian travel insurers have mobilised additional resources to support customers impacted by the situation. The Insurance Council of Australia (ICA) announced that insurers are providing dedicated 24/7 assistance, coordinating medical care, and prioritising support for those in affected regions. - read more
Recent research has unveiled a concerning trend: 14% of Australian travellers embark on international journeys without any form of travel insurance. This statistic is even more alarming among younger travellers under 30, with nearly one in four opting to travel uninsured. Such decisions expose individuals to significant financial risks, especially when unforeseen events occur abroad. - read more
In a significant ruling, the Supreme Court of New South Wales has imposed fines totaling $16.8 million on Allianz Australia Insurance and its subsidiary, AWP Australia, for disseminating misleading information about their travel insurance products between 2016 and 2018. This decision underscores the critical importance of transparency and accuracy in the insurance sector. - read more
