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Cover Weekly · Tuesday, 2 June 2026

📋 APRA flags TPD sustainability concerns + insurer results roundup

APRA warns on TPD sustainability as mental health claims surge

APRA's Jane Magill told the All Actuaries Summit that TPD insurance is being tested by a sharp rise in mental health claims — now one in three claims paid, with mental health claims for people in their 30s up over 700% in the past decade.

ASIC releases updated claims handling guidance

ASIC's latest guidance on claims handling practices imposes stricter timeframes on insurers for acknowledging and resolving claims, with a focus on transparency and fair outcomes for policyholders.

Life insurance premium movements: what changed in Q1

Premium rates for retail life insurance saw modest adjustments in Q1 2026. Group insurance rates remain under pressure as reinsurers tighten terms across income protection and TPD lines.

General insurance profitability improves but cost pressures remain

Australian general insurers reported improved combined ratios in FY25 though natural catastrophe costs and rising reinsurance premiums continue to challenge underwriting profitability.

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