Magnitude 6.9 earthquake strikes Vanuatu, tsunami warning lifted
A magnitude 6.9 earthquake struck off Vanuatu on October 24, 2026, followed by a 6.3 aftershock. Authorities later cancelled a tsunami warning
🇦🇺 Australia & New Zealand Insurance News
Latest insurance news from Australian and New Zealand’s insurers and regulators. Explore auto, home, life, P&C, pet and health insurance, including insurance rates, insights, trends, and breaking insurance news from Australia and New Zealand.
Severe thunderstorms and flooding hit Australia as major storm system spreads
Severe thunderstorms sweep across Australia, bringing 100 km/h winds, flooding, power outages and giant hail risks across NSW, Queensland and Victoria
Macquarie lifts fintech Bridgit funding above A$1.7 bn as lending surges 168%
Macquarie has expanded its funding facility for Australian fintech Bridgit to over A$1.7 bn, following 168% annual lending growth and rising demand for bridging loans
ANZ denied A$117 mn insurance cover for class action settlements
Australia’s Federal Court ruled that ANZ cannot recover A$117 mn in class action settlements or defence costs under its excess insurance policies
ANZ Group (ASX: ANZ) stock forecast: Citi sees upside, but analyst consensus points lower
ANZ shares closed at A$38.89 on October 16, 2026. Citi maintains a A$41 target, while the broader analyst consensus of A$36.56 implies nearly 6% downside
Tesla plans Australia’s largest EV charging hub with 37 stalls in Albury
Tesla has proposed a $3.5 mn, 37-stall Supercharger hub in Albury, featuring V4 chargers and solar canopies, as Australia’s EV charging network expands.
Australian economy faces rising unemployment and inflation in 2027 – IMF forecast
IMF forecasts Australia’s unemployment will reach 4.7% in 2027 as GDP growth slows to 1.6% and inflation remains above the RBA’s target at 3.1%
Kenny Habul HDT brand acquisition: Peter Brock’s Commodores to return
Kenny Habul relaunches Peter Brock’s HDT brand with plans for new Holden Commodores, performance upgrades, restorations and a Bathurst manufacturing facility
Australian VC Square Peg raises over A$1 bn across two venture capital funds
Australian VC firm Square Peg raises over A$1 bn for Fund 6 and Opportunities Fund 3, targeting AI, fintech, SaaS startups and later-stage investments
Fintech Qippay secures NZ$5 mn investment from All Roads Wholesale Fund
New Zealand fintech Qippay secures NZ$5 mn funding for a 25% stake, supporting open banking technology, business expansion and financial infrastructure
Berkshire Hathaway Specialty launches Venture Capital liability insurance in Australia
Berkshire Hathaway Specialty Insurance introduces venture capital liability insurance in Australia, covering fund managers, directors, officers and professional risks
Bank of Queensland (BOQ) announces A$295 mn capital return after loan sale
Bank of Queensland announces a A$295 mn capital return following a A$3.6 bn loan-book sale, with first-half cash earnings of A$176 mn and CET1 of 11.79%
nib Group completes travel insurance sales to Allianz Partners and IMG
nib Group completes the sale of its travel insurance businesses to Allianz Partners and IMG for $97.6 mn, with up to $10 mn deferred consideration
Blue Zebra launches Landlord Essentials insurance product
Blue Zebra launches Landlord Essentials, offering contents, rent default and landlord liability cover where building insurance is arranged separately
Emergence acquires Blue Zebra cyber insurance renewal rights
Emergence Insurance acquires Blue Zebra’s cyber renewal rights, adding its policyholders and cyber specialist Aaron Langmaid from July
ASOS hacked in data breach affecting UK and Australia
ASOS is investigating unauthorised activity after hackers sent customers a message claiming access to Snowflake. Names and contact details may be exposed
OpenAI Medicare incident in Australia exposes AI agent disclosure risks
A Cloud Security Alliance report examines an OpenAI agent’s unauthorised access to Australia’s Medicare portal and the delay in notifying officials
Earthquake strikes Victoria, shaking Melbourne – Geoscience Australia
A magnitude 4.8 earthquake struck near Leongatha in Victoria, shaking Melbourne and South Gippsland before a magnitude 3.1 aftershock followed
Gallagher acquires Albany Insurance in New Zealand
Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting firm, acquires New Zealand-based Albany Insurance Services
Life insurer TAL survey: 37% of Australians cancel social plans due to fatigue
Australian life insurer TAL finds fatigue, financial pressure and busy schedules prevent social connection, despite its importance for mental wellbeing
Australia surcharge ban cuts credit card travel insurance perks
Australia’s card surcharge ban starts October 1 as banks raise fees, trim rewards and reduce travel insurance benefits to offset lower interchange income
Australian EV demand rises to 31% in 2026 as running costs drive interest
EV consideration in Australia rose to 31% in 2026 as lower running costs, wider model choice and charging access reshape household buying decisions
Insurance Australia Group settles A$2.8 bn Credit Suisse claims over Greensill
IAG agreed to settle A$2.8 bn in Credit Suisse claims linked to Greensill insurance policies, with no material impact expected on FY2027 results
Airport strikes across Australia test travel insurance exclusions
Airport strikes across Australia put travel insurance exclusions under scrutiny as policy timing determines cover for delays, cancellations and extra costs
76% of New Zealand mid-sized firms faced cyber threats
NCSC research finds 43% of New Zealand SMEs feel vulnerable to cyber attacks, while 76% of firms with 20-49 staff faced threats or attacks.
New Zealand warns frontier AI will accelerate cyber threats by 2027
New Zealand’s NCSC says frontier AI is increasing cyber risk as serious incidents rise and criminals adopt AI for phishing, scams and reconnaissance
New Zealand’s NCSC names China as top state-backed cyber threat
New Zealand’s NCSC identified China as its most persistent state-backed cyber threat after 86 major cyber incidents showed suspected state links
OpenAI agent breached Australian Medicare portal, Anthony Albanese says
An OpenAI agent accessed non-public Medicare statistics files, prompting an Australian review after a nearly three-month disclosure delay
Vero, Uber and insurtech Cover Genius launch pay-per-kilometre rideshare insurance
Vero, Uber and Cover Genius launched a pay-per-kilometre motor policy combining private and rideshare cover for eligible Uber drivers in Australia
Steadfast extends exclusivity for Amwins and Dragoneer’s $5.41 bn takeover offer
Steadfast extends exclusivity for Amwins and Dragoneer’s A$7.7 bn takeover offer as due diligence nears completion
ACCC clears Zurich’s £8.1 bn acquisition of Lloyd’s underwriter Beazley
Australia’s ACCC approved Zurich’s £8.1 bn acquisition of Beazley, saying the deal is unlikely to reduce competition in insurance markets
New Zealand’s Natural Hazards Commission secures record $7.2 bn reinsurance cover
New Zealand’s NHC secures NZ$12.3 bn of reinsurance protection for 2026, including catastrophe bond cover through Totara Re
Allianz Partners buys nib travel insurance portfolio
Allianz Partners will acquire major parts of nib’s Australia and New Zealand travel insurance portfolio, including TID and a 20-year distribution deal
Insurance Council of Australia urges CSLR reform to avoid cross-sector levies
The Insurance Council of Australia says CSLR reforms should target claim cost drivers, limit compensation, and keep general insurance excluded
Heart Foundation and life insurer TAL target heart myths in young Australians
Heart Foundation and TAL are tackling heart health myths among younger Australians, urging prevention before risks build into later-life disease
The Australian Securities and Investments Commission warns finance sector over AI cyber risks
ASIC urged Australian financial firms to strengthen cyber controls as frontier AI tools such as Mythos raise new vulnerability risks
TAL expands Microsoft deal to scale AI and cloud across life insurance
TAL signs a five-year agreement with Microsoft to expand cloud infrastructure, build AI tools, and strengthen workforce skills across its operations
EBR Systems breach highlights rising cyber pressure on Australia’s healthcare sector
A cyber incident at EBR Systems points to a wider rise in targeted attacks across Australia, where healthcare data carries high value and breach fallout often extends well beyond initial disruption
PERILS lifts Victoria bushfire insurance loss estimate to AUD 810 mn
PERILS raised its second industry loss estimate for the January 2026 Victoria bushfires to AUD 810 mn, with a further update due in July
QBE and insurtech Aurora launched an automated underwriting capability for Yacht P&I
QBE and Aurora launched an automated underwriting capability for Yacht P&I, cutting broker submission-to-bind time to under 10 minutes
TAL, Workcom and University of Sydney launch digital mental insurance health claims platform
TAL, Workcom and University of Sydney partner on Pathways project to improve mental health income protection claims and recovery outcomes in Australia
Zurich’s Australian unit to acquire ClearView Wealth for A$408 mn
Zurich’s Australian unit will buy ClearView Wealth for A$408.3m at 65 cents per share, a 21.5% premium, with board and majority shareholder backing
Swiss Re to acquire QBE trade credit and surety unit
Swiss Re Corporate Solutions agreed to acquire QBE Insurance Group’s Global Trade Credit and Surety business, subject to regulatory approvals expected to take several months
Australian Suncorp Group profit slides on A$1.3 bn catastrophe bill
Suncorp Group reported a sharp fall in fiscal first-half earnings after heavy natural catastrophe losses and weaker investment income weighed on results
Insurtech Sixfold raised $30 mn Series B to scale GenAI Underwriter platform
Sixfold has secured $30 mn in Series B funding to expand its AI-driven underwriting platform. Brewer Lane led the round, with strategic backing from Guidewire
Marsh Risk expands Nimbus data center insurance to $2.7 bn capacity
Marsh Risk increases Nimbus facility limits to $2.7bn for large-scale data center construction projects across major global markets
Insurtech BirdsEyeView raises seven-figure funding to scale wildfire risk models
ESA-backed InsurTech BirdsEyeView secured new funding led by 24 Haymarket to expand internationally and accelerate live, AI-driven wildfire risk modelling
Victorian bushfires in Australia trigger 1,386 insurance claims as total losses hit 30%
Insurers logged 1,386 claims from Victoria’s January bushfires, with 30% of property claims total losses, as the ICA activates its catastrophe response
Australia storms across Queensland and New South Wales cause A$2.7 bn insured loss – PERILS
PERILS estimates A$2.663 bn insured losses from late November storms in Queensland and NSW, driven by extreme hail and wind damage
Australia’s competition regulator blocks IAG bid for RAC Insurance
Australia’s competition regulator opposes IAG’s planned takeover of RAC Insurance, warning it would weaken motor and home insurance competition in WA
New Zealand home insurance costs diverge by region and risk
NZ home and contents insurance costs show uneven regional shifts as insurers apply finer risk-based pricing, with Canterbury and Wellington moving differently
PERILS estimates A$1,108 mn loss from Australia convective storms
PERILS sets initial insured loss at $1,108 mn for late-October 2025 severe convective storms across Australia’s east coast
2026 cyber security outlook: federated CISOs, agentic AI, privacy squeeze
A blunt 2026 security forecast on the federated CISO, autonomous AI attacks and defenses, and the accelerating erosion of digital privacy
Australia’s insurtech market to hit $4.2 bn by 2034 with 30% annual growth
Australia’s insurtech market jumps from $3767 mn to a projected $4.2 bn by 2034, driven by digital uptake, AI tools, embedded cover and rising consumer demand
Cyclone Gabrielle machinery dispute shows how strict insurance policy terms bite
A forestry firm loses an $85k claim after moving equipment without insurer consent, raising questions about recovery wording and disaster-response realism
ICA extends catastrophe declaration as storms in Queensland trigger 44k insurance claims
ICA broadens its Cat 255 declaration after severe storms and hail hit Qld and NSW, with 44,600+ claims and insurers deploying support across communities
Australia ranks second globally for extreme weather losses over 45 years
ICA data shows Australia has faced the world’s second-highest per-capita extreme weather losses for 45 years, urging major investment in resilience
CUBE buys Kodex AI to fuse agentic tech into unified compliance stack
CUBE acquires Berlin’s Kodex AI, adding agentic co-worker capabilities and expanding its European footprint across compliance and risk
Australia’s Cyclone Reinsurance Pool lowers premiums but risk mitigation still lags
Australia’s cyclone pool eases premiums in high risk regions, yet insurers push for stronger resilience, data alignment and mitigation investment
IAG handles 10,000+ weather claims after major hailstorms in Australia
IAG processes over 10,000 claims after severe hail and storm damage across Queensland, NSW, and Victoria, activating major recovery operations
Global insurance-linked securities market reached $145 bn in 2026, supported by record catastrophe bond issuance, 12.5% investor returns and expanding reinsurance sidecars
Insurance regulators in the US, UK and Japan are strengthening oversight of asset-intensive reinsurance, targeting counterparty credit risk, recapture reserve adequacy
Verisk raised its global insured catastrophe loss benchmark to $171 bn, with the US accounting for $117 bn and severe thunderstorms leading modeled risk
RiskScan 2026 reveals how cyber, climate, AI, inflation and business interruption are converging to reshape insurance priorities and risk management