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Insurance News from Income Protection NZ
Income Protection NZ is pleased to present the latest financial news headlines.
To read an entire news item, simply click on the headline.
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
APRA Enforces Additional Capital Requirement on Sovereign Insurance Australia
13 Jun 2026: Paige Estritori
The Australian Prudential Regulation Authority (APRA) has imposed an additional $2 million capital requirement on Sovereign Insurance Australia (SIA), citing significant deficiencies in the insurer's risk management framework and regulatory reporting practices. This action underscores the critical importance of robust risk management within the insurance industry. - read more
Soft Market Conditions Persist in Australian Commercial Insurance Through H1 2026
13 Jun 2026: Paige Estritori
The Australian commercial insurance market has maintained its soft stance throughout the first half of 2026, presenting advantageous conditions for buyers. This trend is characterized by stable or declining premiums, expanded insurer capacity, and increased competition across various insurance lines. - read more
2026-27 Federal Budget: Key Impacts on the Australian Insurance Industry
13 Jun 2026: Paige Estritori
The Australian Government's 2026-27 Federal Budget, presented by Treasurer Jim Chalmers, introduces several measures with direct implications for the insurance sector. These initiatives aim to address challenges such as property insurance costs and underinsurance, while certain omissions have raised questions within the industry. - read more
NRMA's Departure from Farm Insurance: What It Means for Australian Farmers
12 Jun 2026: Paige Estritori
In a significant shift within the Australian insurance landscape, NRMA has announced its withdrawal from the farm insurance market, ceasing the sale of new policies as of July 1, 2025. This decision affects both hobby and commercial farm insurance policies, leaving many farmers in search of alternative coverage options. - read more
Achmea and Protected Cropping Australia Join Forces to Support Greenhouse Farmers
12 Jun 2026: Paige Estritori
Achmea Farm Insurance and Protected Cropping Australia (PCA) have announced a strategic partnership aimed at bolstering risk mitigation and resilience within Australia's protected cropping sector. This collaboration seeks to empower greenhouse and glasshouse growers by providing tailored insurance solutions and fostering knowledge exchange on best practices. - read more
Allstate Underwriting and Mitsui Sumitomo Insurance Collaborate to Strengthen Farm Insurance in Australia
12 Jun 2026: Paige Estritori
Allstate Underwriting Agencies Pty Ltd and Mitsui Sumitomo Insurance Co., Ltd have announced a multi-year capacity agreement, marking the beginning of a strategic partnership aimed at bolstering farm insurance offerings in Australia. This collaboration focuses on providing additional capacity to the medium, small, and hobby farm sector, addressing the unique needs of these operations. - read moreThe 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
Insurance Deductible:
the amount that an insured is required to contribute toward an insurance claim as stipulated in an insurance policy. Otherwise known as the "policy excess".
the amount that an insured is required to contribute toward an insurance claim as stipulated in an insurance policy. Otherwise known as the "policy excess".