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Insurance News from Income Protection NZ
Income Protection NZ is pleased to present the latest financial news headlines.
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Insurance News
| IAG Projects Significant Premium Growth and Profit Increase for FY26 24 Nov 2025: Paige Estritori Insurance Australia Group (IAG) has announced an optimistic forecast for the financial year 2026, anticipating a 10% increase in gross written premium (GWP) and an insurance profit ranging between $1.55 billion and $1.75 billion. This projection follows a robust performance in FY25, where IAG reported a 4.3% rise in GWP to $17.1 billion and a net profit after tax of $1.36 billion. - read more |
| Australian General Insurers Report Record 19% Return on Equity in FY25 24 Nov 2025: Paige Estritori Australia's general insurance industry has reported a 19% return on equity (ROE) for the financial year 2025, marking the highest level in a decade. This significant achievement is detailed in the latest Optima Report by actuarial consultancy Finity, which attributes the strong performance to a combination of favorable factors. - read more |
| Australian Home Insurance Premiums Expected to Rise After $1.8 Billion in Claims 24 Nov 2025: Paige Estritori Australian homeowners are bracing for increases in insurance premiums following a series of extreme weather events in early 2025 that led to $1.8 billion in claims. The Insurance Council of Australia (ICA) has highlighted that the growing frequency and intensity of such events are significantly impacting insurance costs nationwide. - read more |
| Beauty Therapist Successfully Challenges Insurer Over Flood Damage Claim 23 Nov 2025: Paige Estritori In a significant ruling, a beauty therapist has achieved partial coverage for damages after contesting her insurer's application of a flood exclusion clause. This case underscores the complexities beauticians face when navigating insurance claims related to water damage. - read more |
| ASIC Intensifies Oversight on Insurance Pricing and Claims Handling 23 Nov 2025: Paige Estritori The Australian Securities and Investments Commission (ASIC) has unveiled new enforcement priorities for the upcoming year, placing a spotlight on insurance pricing, claims handling, and complaints processes. This move aims to enhance consumer protection and ensure fair practices within the insurance industry. - read more |
| Melbourne Hairdresser Successfully Claims Business Interruption Due to Pandemic 23 Nov 2025: Paige Estritori A Melbourne-based hairdressing salon has won a business interruption (BI) insurance dispute after demonstrating that a local COVID-19 outbreak led to a significant decline in revenue, even before government-imposed lockdowns. - read more |
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Life Insurance Articles
| Understanding the Tax Benefits of Income Protection Insurance in Australia Income protection insurance is a crucial safeguard for many Australians, designed to provide financial stability in the event that you are unable to work due to illness or injury. This type of insurance delivers a regular income, usually up to a certain percentage of your regular earnings, ensuring that you can meet your financial obligations even when your health prevents you from earning a wage. - read more
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| Understanding Life Insurance: How to Determine Coverage Amounts Life insurance is a cornerstone of financial planning, offering peace of mind to you and security for your loved ones. It's a contract between you and an insurance company: in exchange for regular premiums, the insurer agrees to pay a sum of money to designated beneficiaries upon your passing. This vital tool ensures that your family's financial needs can be met during an incredibly difficult time. - read more
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| Why Income Protection Insurance Is Essential for Australians Income protection insurance is a type of personal insurance that provides financial support if you are unable to work due to illness or injury. It ensures that you continue to receive a portion of your income, helping you manage daily expenses and financial commitments during recovery. - read more
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| Income Protection vs. Life Insurance: Why You Need Both Insurance plays a crucial role in safeguarding our financial future. It serves as a safety net, ensuring that we can manage unexpected events without severely impacting our financial stability. For Australian adults, having the right types of insurance coverage is essential for peace of mind and financial security. - read more
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| Income Protection: How to Safeguard Your Earnings in Uncertain Times In the landscape of personal financial planning, income protection insurance emerges as a critical safeguard against the unpredictable nature of life's many uncertainties. As we navigate through economic turbulence and job market volatility, the importance of income protection becomes ever more apparent. This type of insurance serves as a financial backstop, designed to provide a stable flow of income when you're unable to work due to sickness or injury. - read more
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| Income Insurance: Common Misunderstandings that Could Cost You When life throws unexpected challenges your way, income insurance can be a financial lifesaver. Essentially, it's a policy designed to replace a portion of your income if you're unable to work due to illness or injury. Imagine not having to worry about bills piling up while you focus on recovery. That's the peace of mind income insurance aims to provide. - read more
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Knowledgebase
Replacement Cost:
The amount it would cost to replace or rebuild an insured asset with one of similar kind and quality, without depreciation.
The amount it would cost to replace or rebuild an insured asset with one of similar kind and quality, without depreciation.