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Insurance News from Income Insurance NZ
Income Insurance NZ is pleased to present the latest financial news headlines.
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Insurance News
| Understanding AustralianSuper's Income Protection Reduction 16 Apr 2026: Paige Estritori AustralianSuper, one of Australia's largest superannuation funds, has announced a significant change to its default income protection insurance. Effective from 28 February 2026, the fund will reduce the default income protection cover to $1,000 per month. This adjustment aims to align insurance coverage with members' actual income levels and prevent over-insurance, which can erode retirement savings. - read more |
| CareSuper Enhances Income Protection Benefits for Members 16 Apr 2026: Paige Estritori CareSuper has announced an enhancement to its income protection insurance offerings. Starting 1 April 2026, members can apply for income protection cover up to 87% of their current income, including up to 12% super contributions. This is an increase from the previous limit of 85% of income, which included up to 10% super contributions. - read more |
| APRA Enhances Capital Requirements for Sovereign Insurance Australia 16 Apr 2026: Paige Estritori The Australian Prudential Regulation Authority (APRA) has recently mandated an additional capital requirement of $2 million for Sovereign Insurance Australia Pty Ltd. This directive is part of APRA's ongoing efforts to bolster the financial stability and resilience of insurers operating within Australia. - read more |
| Europ Assistance Australia Enters Market with APRA's Approval 16 Apr 2026: Paige Estritori The Australian Prudential Regulation Authority (APRA) has granted a new general insurance licence to Europ Assistance Australia, marking the company's official entry into the Australian insurance market. This development introduces additional competition and diversity within the sector. - read more |
| APRA Calls for Immediate Action on Extreme Weather Risks 16 Apr 2026: Paige Estritori The Australian Prudential Regulation Authority (APRA) has released a landmark report emphasising the urgent need for ambitious action and investment to shield communities from the escalating impacts of extreme weather events. The Insurance Climate Vulnerability Assessment (ICVA) serves as a stress test, highlighting risks that are already materialising and supporting the insurance industry's calls for immediate mitigation efforts. - read more |
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Life Insurance Articles
| Navigating Pre-existing Conditions in Income Protection Insurance Income protection insurance is a safeguard that provides individuals with financial stability in the event they are unable to work due to illness or injury. This type of insurance typically replaces a significant percentage of the insured's income, ensuring that their financial commitments can still be met during periods when they cannot earn an income through employment. - read more
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| Maximize Your Safety Net: Top Tips for Optimizing Income Protection Benefits Welcome to a pivotal guide dedicated to empowering you with the essentials of income protection insurance in Australia. As we navigate through times of uncertainty, safeguarding your financial wellbeing becomes not just a priority, but a necessity. Income protection insurance stands as one of the key pillars of financial security, ensuring a steady flow of income during periods when you're unable to work due to illness 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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| Who Needs Disability Insurance? If you are like most people on this planet, you are not financially free. You would not be able to stop working and still support yourself and your family from your financial resources. Your continued ability to work to earn an income would therefore be one of your greatest assets. - read more
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| The Importance of Disability Insurance in a Freelancing World Freelancing in Australia has witnessed exponential growth over the past few years. With the rise of the gig economy, more individuals are enjoying the flexibility and independence that come with being their own boss. From digital marketers to graphic designers, Australians are seizing various freelancing opportunities, embracing the freedom of working on projects that align with their passions. - read more
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Knowledgebase
Loss Ratio:
The ratio of claims paid by an insurer to the premiums earned, used as a measure of profitability.
The ratio of claims paid by an insurer to the premiums earned, used as a measure of profitability.