Insurance Finder Australia

Helping Australians connect with licensed insurance brokers for smarter cover choices

Insurance Finder Australia :: News

Share this news item!

AFCA Challenges Suncorp's 60% Home Insurance Premium Hike

Examining the Implications of AFCA's Directive on Premium Increases

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.

The Australian Financial Complaints Authority (AFCA) has directed Suncorp to reassess a 60% increase in a customer's home insurance premium after the insurer failed to provide persuasive evidence justifying the hike.

This decision comes amid a backdrop of rising complaints about general insurers, with AFCA reporting record levels of grievances.

Consumer complaints about general insurers to AFCA have increased by more than 80% since 2018, with a significant spike following the 2022 floods. In the last financial year, there were over 29,000 complaints about general insurers, highlighting growing dissatisfaction among policyholders.

For tradespeople and small business owners, this ruling emphasizes the importance of understanding the factors that contribute to premium increases. It's crucial to maintain open communication with insurers and seek detailed explanations for any significant changes in premiums. Additionally, exploring alternative insurance providers and coverage options can ensure that policies remain both comprehensive and cost-effective.

Implementing proactive risk management measures, such as regular equipment maintenance, adherence to safety protocols, and staying informed about industry best practices, can also contribute to more favorable insurance terms and potentially lower premiums.

Published:Friday, 6th Mar 2026
Author: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

AIA Australia's Latest Enhancements to Priority Protection Insurance

24 Mar 2026: Paige Estritori

AIA Australia has recently updated its Priority Protection life insurance suite, introducing changes designed to simplify discounts, enhance policy clarity, and support premium affordability. These enhancements, effective from 9 November 2025, reflect AIA's commitment to providing value-driven solutions for policyholders. - read more

Australia's Life Insurance Coverage Falls Short of Global Standards

24 Mar 2026: Paige Estritori

Recent findings from a survey conducted by Zurich and the University of Oxford reveal that Australia has one of the lowest life insurance penetration rates globally. The study indicates that only 27% of Australians have income protection insurance, and 25% possess life insurance coverage. These figures are notably lower than the global averages of 33% for income protection and 32% for life insurance. - read more

Zurich's Pioneering Women's Health Benefit in Income Protection

24 Mar 2026: Paige Estritori

Zurich has introduced a groundbreaking Women's Health Benefit within its Corporate Care Income Protection product, marking the first dedicated corporate income protection benefit in Australia designed specifically for female health conditions and events. This initiative aims to provide targeted support for women experiencing health issues that can impact their professional lives. - read more

Club Marine Introduces Land-Based Insurance for Race Boats

24 Mar 2026: Paige Estritori

Club Marine, Australia's leading boat insurance provider, has announced a new partnership with the Australian Offshore Powerboat Club (AOPC) to offer specialised insurance coverage for race boats while they are on land. This initiative addresses a significant gap in the market, providing protection against accidental loss, damage, theft, or malicious damage to vessels during storage and transit. - read more

Click for more Insurance News

Insurance Articles

Navigating the Insurance Maze: The Role of Brokers in Simplifying Your Choices

Insurance brokers play a vital role in helping individuals and businesses navigate the complex world of insurance. Unlike direct insurers who offer their own products, brokers act as intermediaries between clients and a range of insurance companies. Their primary goal is to find the most suitable coverage tailored to their clients' specific needs. - read more

Understanding the Different Types of Business Insurance: What You Need to Know

In the dynamic and often unpredictable world of business, risks and uncertainties are part of the journey. For small business owners in Australia, navigating these challenges can seem daunting. - read more

Understanding Your Family's Insurance Needs

In the hustle and bustle of everyday life, securing the future of your family might not always be on the top of your list. However, understanding and obtaining the right insurance is crucial for your family's security. Life can be unpredictable, and having the appropriate coverage can provide peace of mind and financial stability when unexpected events occur. - read more

The Importance of Life, Trauma and Income Protection Insurance for Families

When it comes to protecting your family's financial future, understanding the basics of life, trauma, and income protection insurance is crucial. These insurance types provide a safety net during challenging times and offer peace of mind for families. - read more

Knowledgebase

Insurance Claim:
Notification to an insurance company requesting payment of an amount due under the terms of the policy.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.