Income Insurance 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.
The Australian financial services sector is currently witnessing a significant increase in professional indemnity (PI) insurance claims. This trend is largely attributed to intensified regulatory scrutiny and recent legal actions initiated by the Australian Securities and Investments Commission (ASIC). - read more
Sterling Insurance has recently secured a new professional indemnity (PI) binding authority with Lloyd's, a development that promises to provide Australian brokers with greater control over product offerings and pricing structures. This strategic move is part of Sterling's ongoing commitment to delivering tailored insurance solutions that meet the specific needs of niche and complex risk sectors. - read more
Starting 1 July 2026, builders in New South Wales (NSW) who engage in design-related activities will be required to hold professional indemnity (PI) insurance. This mandate is part of the Design and Building Practitioners Act (DBP Act), which aims to enhance accountability and quality within the construction industry. - read more
In recent years, many Australian strata property owners have faced significant increases in insurance premiums, with some experiencing hikes of 40-80% since 2022. Understanding the underlying causes of these increases is crucial for developing effective strategies to manage and mitigate costs. - read more
Consumer advocacy groups are urging the National Insurance Brokers Association (NIBA) to explicitly prohibit conflicted remuneration arrangements in strata insurance. This call comes amid concerns that such financial practices may compromise the interests of strata property owners. - read more
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.
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Knowledgebase
Insurable Interest: A financial or other kind of interest in the insured item or person, necessary for a valid insurance contract.
