Welcome to the Insurance Online News podcast with your host, Paige Estritori, where we deliver the latest and most significant news from the world of insurance in Australia. Our dedicated team works tirelessly to bring you the freshest updates, focusing on the stories that matter the most to both Australian businesses and individual consumers over the past week.
Through meticulous research, we transform these developments into original content that not only keeps you informed but also offers deep insights into the insurance landscape as it stands today. Our podcast distills these crucial updates into a format that's both succinct and captivating. For professionals within the insurance realm or personal consumers keen on keeping up with insurance trends, look no further. Paige Estritori brings you all the essential information daily, making our podcast the ultimate destination for trustworthy and impactful insurance news.
This Week:
This week: Victoria makes flood-risk ratings mandatory in planning to improve insurance availability; AFCA reports a record year of complaints and cautions against AI-generated submissions that hinder resolutions; a hotel booking-platform breach fuels convincing phishing with real reservation numbers; and a Melbourne SME narrowly avoids a $118k payment‑redirection loss. Practical tips: review flood cover and sums insured, prioritise clear claims standards, verify payment changes by phone, enable MFA, and ensure cyber policies include social-engineering and business interruption. Visit insuranceonline.com.au for free quotes and broker help.
Hello and welcome to Insurance Online News with Paige Estritori, its Thursday, 29 October 2026.
First, Victoria is locking in new flood‑risk rules for property development. The reform makes flood ratings mandatory in planning and building decisions, with the industry urging councils to apply them consistently. It matters because fewer homes built in flood‑prone areas should help improve cover availability and, over time, affordability. If you own a home or rental, review your flood definitions and sum insured, and compare options with a broker to avoid gaps.
Meanwhile, the financial complaints authority, AFCA — thats the Australian Financial Complaints Authority — says complaints hit a record last financial year, with motor claims leading the list. AFCA also warns that AI‑generated submissions can slow resolutions if they add noise instead of facts. For any claim, keep clear records, respond quickly, and lean on a broker. When comparing policies, look for plain‑English claims timelines and communication standards.
On cyber risk, a hotel booking‑software breach led to very convincing phishing emails that included real reservation numbers, dates and room types. Card details werent taken, but travellers and hospitality businesses are being targeted with requests to “update” payment info. Dont click links; verify with the venue directly, change passwords, and enable multi‑factor authentication. SMEs should check whether their cyber policy covers incident response, data‑breach costs and social‑engineering losses.
And a Melbourne family business nearly lost about $118,000 after scammers hijacked an email thread and swapped in fake bank details. The bank and police recovered the funds, but authorities report more than a hundred of these cases since July. Protect payments by confirming any bank‑detail change via a trusted phone number, using dual approvals, and updating your cyber cover to include payment‑redirection and business interruption.
Thats the wrap. For fast, free quotes and expert broker support across personal and business cover, visit insuranceonline.com.au. Im Paige Estritori — thanks for listening, and stay insured, not unsure.
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
Professional indemnity: An insurance that provides cover for liability incurred in the course of exercising a profession.
