Insurance News from Trades Cover Insurance

Trades Cover Insurance 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.

Insurance News

ASIC Calls on Insurers to Enhance Cyber Security in Response to AI Threats

07 Jun 2026: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has issued a stark warning to the insurance sector, emphasising the urgent need to strengthen cyber defences in light of escalating threats posed by artificial intelligence (AI). In a recent open letter, ASIC Commissioner Simone Constant highlighted that the advent of advanced AI technologies has fundamentally altered the cyber threat landscape, necessitating immediate and decisive action from insurers. - read more

IAG's Ambitious 2030 Growth Plan: What It Means for Tradies

31 May 2026: Paige Estritori

Insurance Australia Group (IAG) has unveiled an ambitious strategy, aiming to achieve over $25 billion in gross written premiums by 2030. This plan, announced during their Investor Day in Sydney, focuses on expanding their customer base to more than 11 million and enhancing shareholder returns. For tradespeople across Australia, this development could have significant implications. - read more

Addressing Delays in Income Protection Insurance Payouts: What Tradies Need to Know

31 May 2026: Paige Estritori

Recent reports indicate a 67% increase in violations of the Life Insurance Code of Practice related to timely income protection payments. This trend is concerning for tradespeople who depend on these payouts during periods of illness or injury. - read more

Insurers Sound Alarm on AI-Driven Cyber Threats

23 May 2026: Paige Estritori

In the rapidly evolving digital landscape, Australian insurers are raising concerns that artificial intelligence (AI)-driven cyber threats are advancing at a pace that outstrips current market pricing models. This development poses significant challenges for the insurance industry, particularly for tradespeople and small business owners who rely on comprehensive coverage to safeguard their operations. - read more

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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.

Trades Insurance Articles

Income Protection Insurance: A Must-Have for Tradies

Income protection insurance is designed to offer financial security when you're unable to work due to illness or injury. It provides a steady income, usually up to 75% of your pre-tax earnings, helping you maintain your lifestyle while you focus on recovery. - read more

Essential Insurance Cover Every Australian Tradie Needs

Australia's tradies - our skilled tradespeople - are the backbone of the economy. They keep industries running smoothly, tackling everything from construction and electrical work to plumbing and carpentry. Their skills are in high demand, making the tradie industry a crucial part of Australia's workforce. - read more

Public Liability: A Guide for Small Trade Business Owners

Public liability insurance is essential for anyone running a small trade business, offering a safety net against the unexpected. As a tradie, you’re probably familiar with the unpredictable nature of the job—anything from accidental property damage to third-party injury can occur. That’s where public liability insurance comes in, providing protection and peace of mind. - read more

How to Protect Your Tools and Equipment with the Right Insurance

For tradies across Australia, tools and equipment are vital to their daily operations. Imagine waking up to find that your essential tools have been damaged or stolen. The financial impact can be significant, affecting not only your ability to work but also your potential earnings. - read more

Knowledgebase

Actuary:
A professional who analyzes the financial costs of risk and uncertainty using mathematics, statistics, and financial theory.

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