In 2025, the Australian insurance landscape is evolving rapidly, prompting businesses to reassess their coverage. The Australian Prudential Regulation Authority (APRA) is pushing for stronger insurance frameworks, addressing issues like climate change and affordability. Legislative changes, including the Financial Accountability Regime set for March 2025, are also reshaping the sector to improve governance and accountability.
Australia’s general insurance market is expected to grow to AUD98 billion by 2025, driven by increased demand for coverage against natural disasters. However, this growth comes with rising premiums and affordability challenges, making it essential for businesses to ensure their policies meet emerging risks and regulatory requirements.
At Melino Legal, we specialise in navigating these complexities, offering expert advice to protect your business in a shifting insurance environment. Be proactive and ensure your coverage is robust.