- Introducing Quipex's Digital Logbook: A Game-Changer for Building Maintenance and Insurance
In an innovative move to address rising insurance premiums in the property sector, construction compliance platform Quipex has unveiled a digital logbook designed to centralise building maintenance records. This tool aims to fill the existing data void that often leads insurers to estimate risks, potentially resulting in higher premiums.
- Cyclone Reinsurance Pool Expands to Cover 3.1 Million Australian Buildings
The Australian Reinsurance Pool Corporation (ARPC) has reported a substantial expansion of the cyclone reinsurance pool, now encompassing 3.1 million buildings with a total exposure nearing $2.17 trillion. This development marks a significant stride in enhancing insurance affordability and accessibility in cyclone-prone regions.
- Residential Construction Code Changes Paused Until 2029 to Accelerate Housing Development
In a concerted effort to expedite housing development across Australia, state and territory building ministers have agreed to postpone residential changes to the National Construction Code (NCC) until mid-2029. This decision aims to streamline the construction process and address the nation's housing shortage by reducing regulatory burdens on builders.
- Growing Demand for Latent Defects Insurance in Australian Construction
Australia's construction industry is witnessing a significant shift towards latent defects insurance (LDI), a trend gaining momentum as New South Wales (NSW) approaches its 2028 deadline to mandate LDI for residential projects. This move underscores the sector's commitment to enhancing structural integrity and homeowner protection.
- How Rising Construction Costs Are Affecting Insurance Claims in Australia
Australia's construction sector is grappling with significant cost escalations, which are having a direct impact on insurance claims and repair timelines. According to a recent report by Crawford & Company, various factors are contributing to this trend, including rising material prices, labour shortages, and an increase in builder insolvencies.
- ICA's Push for Reforms to Lower Insurance Costs and Strengthen Housing Resilience in Queensland
The Insurance Council of Australia (ICA) has recently submitted a series of recommendations to the Queensland Productivity Commission, aiming to reform the state's construction industry. These proposals are designed to reduce insurance costs and bolster housing resilience, addressing both economic efficiency and disaster preparedness.
- Rising Demand for Latent Defects Insurance in Australia's Construction Industry
Australia's construction industry is experiencing a significant shift towards latent defects insurance (LDI), a trend gaining momentum as New South Wales (NSW) approaches its 2028 deadline to mandate LDI for residential projects. This move underscores the sector's commitment to enhancing structural integrity and homeowner protection.
- Declining Construction Insurance Premiums in Australia: A 2025 Overview
In 2025, Australia's construction insurance market experienced a notable shift, with premiums decreasing across various lines. This trend marks a departure from the upward trajectory observed in previous years, offering a more favourable environment for construction businesses seeking coverage.
- The Impact of Escalating Construction Costs on Insurance Claims in Australia
Australia's construction sector is currently grappling with significant cost escalations, which are having a direct impact on insurance claims and repair timelines. Factors such as rising material prices, labour shortages, and an increase in builder insolvencies are contributing to this trend.
- ICA's Push for Reforms to Lower Insurance Costs and Strengthen Housing Resilience in Queensland
The Insurance Council of Australia (ICA) has recently submitted a series of recommendations to the Queensland Productivity Commission, aiming to reform the state's construction industry. These proposals are designed to reduce insurance costs and bolster housing resilience, addressing both economic efficiency and disaster preparedness.
- Escalating Construction Costs Impact Insurance Claims and Repair Timelines
The Australian construction industry is currently grappling with significant cost escalations, which are having a direct impact on insurance claims and repair timelines.
- IAG Partners with Codafication to Streamline Property Claims Management
Insurance Australia Group (IAG), a leading insurer in Australia, has announced a strategic partnership with Brisbane-based insurtech company Codafication to enhance its property claims management process. This collaboration introduces the Crunchwork platform, designed to automate workflows and provide real-time updates to all parties involved in the claims process.
- Assetinsure Warns of Potential Impacts from Victoria's Building Insurance Reforms
Assetinsure, a prominent insurer in the Australian market, has expressed significant concerns regarding the Victorian Government's proposed Building Legislation Amendment (Buyer Protections) Bill 2025. The insurer warns that the reforms could result in higher insurance premiums and increased bureaucratic processes within the construction industry.
- Mandatory Professional Indemnity Insurance for NSW Builders by 2026
Registered building practitioners in New South Wales are facing a critical deadline to secure professional indemnity (PI) insurance by July 1, 2026, in accordance with the Design and Building Practitioners Act 2021.
- ICA Calls for Comprehensive Reforms in Queensland's Insurance and Building Sectors
The Insurance Council of Australia (ICA) has recently submitted a series of recommendations to the Queensland Productivity Commission, aiming to reform the state's construction and insurance sectors. These proposals are designed to enhance the resilience of the built environment and improve the affordability of insurance for Queensland residents.
- Rising Mental Health Claims Impact Construction Insurance Costs
Australia's construction industry is facing a significant challenge as mental health claims among workers continue to rise, leading to increased insurance costs and complex risk management issues.
- Claim Central Property Ceases Operations Amid Industry Pressures
Claim Central Property, a prominent player in the Australian property claims management sector, has recently entered voluntary administration, ceasing its operations. This development underscores the mounting pressures within the construction and insurance industries, characterised by escalating costs and persistent supply chain disruptions.
- Proposed Building Code Reforms Aim to Mitigate Water Leak Issues
Engineers Australia has recently expressed strong support for proposed amendments to the National Construction Code (NCC) aimed at mitigating water leaks, which are identified as the predominant cause of defects in apartment and commercial buildings.
- New Comprehensive Professional Indemnity Insurance for Tradies Unveiled
Hutch Underwriting has recently introduced a revamped professional indemnity (PI) insurance policy tailored specifically for tradespeople, commonly referred to as 'tradies'. This new offering is designed to encompass advice, design, and incidental cyber exposures, providing a comprehensive solution that addresses the multifaceted risks faced by professionals in the construction industry.
- NSW Court Decision Heightens Builders' Liability for Defects
In a landmark decision, the New South Wales Court of Appeal has significantly altered the landscape of construction liability, particularly concerning builders' responsibilities for defects. The case, known as Pafburn, has removed the previously relied-upon proportionate liability defence, thereby increasing the accountability of builders and developers for construction defects.
- Understanding the Rise of Latent Defects Insurance in Australia
Australia's construction industry is witnessing a significant shift towards latent defects insurance (LDI), a trend gaining momentum as New South Wales (NSW) approaches its 2028 deadline to mandate LDI for residential projects. This move underscores the sector's commitment to enhancing structural integrity and homeowner protection.
- ICA's Push for Reforms to Lower Insurance Costs in Queensland
The Insurance Council of Australia (ICA) has recently submitted a series of recommendations to the Queensland Productivity Commission, aiming to reform the state's construction industry. These proposals are designed to reduce insurance costs and bolster housing resilience, addressing both economic efficiency and disaster preparedness.
- Adapting Insurance Strategies Amid Rising Construction Costs in Australia
Australia's construction sector is currently grappling with significant cost escalations, prompting builders to reassess their insurance and risk management strategies. Factors such as supply chain disruptions, inflation, and labor shortages have collectively contributed to an over 30% increase in overall construction costs.
- Victoria's Insurance Monopoly Proposal: Implications for Builders
The Victorian Government has introduced the Building Legislation Amendment (Buyer Protections) Bill 2025, aiming to centralise domestic building insurance under the Victorian Building Authority (VBA). This move would eliminate competition, requiring builders to obtain coverage exclusively from the VBA.
- NSW Builders: Act Now to Meet 2026 Professional Indemnity Insurance Requirements
Registered building practitioners in New South Wales are required to hold professional indemnity (PI) insurance by July 1, 2026, following an extension of the compliance deadline under the Design and Building Practitioners Act 2021.
- ICA's Push for Queensland Reforms: Aiming to Lower Insurance Costs and Strengthen Housing Resilience
The Insurance Council of Australia (ICA) has submitted six key recommendations to the Queensland Productivity Commission's inquiry into the construction industry, focusing on improving land use planning, taxation, regulation, and workforce management to enhance economic efficiency and disaster resilience.
- Significant Reductions in Australian Construction Insurance Premiums
The Australian construction insurance market has experienced a notable shift in 2025, with premiums decreasing across various lines due to intensified competition among insurers.
- Elevated Construction Costs Prompt Reassessment of Insurance Strategies
Australia's construction sector continues to grapple with elevated cost pressures, prompting builders to reassess their insurance and risk management strategies. Gallagher reports that overall construction costs have increased by over 30%, influenced by supply chain disruptions, inflation, and labour shortages.
- South Australia Strengthens Homeowner Insurance Amid Rising Builder Insolvencies
The South Australian Government has taken decisive action to bolster homeowner protection in response to a surge in builder insolvencies. Effective from 1 October 2025, the maximum insurance payout for homeowners will increase from $150,000 to $250,000.
