ASIC Extends Relief on Distribution Rules for Insurance Providers

This decision comes with the introduction of a new legislative instrument, 2025/520, which renews the previous framework, originally established under instrument 2015/682.

The relief will now continue until August 27, 2030.

The initial relief, slated to expire next month, addresses the legislative requirements surrounding the appointment of representatives by insurance companies. By doing so, ASIC aims to alleviate the regulatory load carried by these providers and eliminate certain technical requirements.

This regulatory adjustment is particularly significant for general insurance providers, as it eases compliance costs and regulatory complexities. By reducing these burdens, insurance companies can allocate resources towards enhancing product offerings and broadening the availability of insurance products to Australian consumers. Consequently, this could foster a more competitive market, potentially benefiting consumers through more diverse and accessible insurance options.

The extension of the relief is expected to drive further discussions on how regulatory frameworks can be optimised to better support both providers and consumers in the financial sector. Expert analyses suggest that this move could serve as a blueprint for future amendments aimed at balancing regulation with industry growth. Stakeholders in the industry will be closely monitoring the effects of this relief on the insurance market as they assess potential adjustments to their distribution strategies up to 2030.

Published:Tuesday, 16th Sep 2025
Source: Paige Estritori

Share this news item:

Insurance News

ASIC Extends Relief on Distribution Rules for Insurance Providers

16 Sep 2025: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has announced an extension of the exemption allowing general insurance providers to forego appointing product distributors as authorised representatives. This decision comes with the introduction of a new legislative instrument, 2025/520, which renews the previous framework, originally established under instrument 2015/682. The relief will now continue until August 27, 2030. - read more

Cyber Insurance Becomes Essential Amid Rising Digital Threats

12 Sep 2025: Paige Estritori

The recent cyberattack on Fortnum Private Wealth, accompanied by ASIC's legal action, has spotlighted the critical risks cyber threats pose to financial advice companies in Australia. With digital integration intensifying across the finance sector, the owner of Fortnum, Entireti, plans to defend the case, underscoring the necessity for ongoing vigilance in cybersecurity measures. - read more

Swiss Re Foresees Rising Premiums Amid Increasing Global Risks

10 Sep 2025: Paige Estritori

In a comprehensive analysis, Swiss Re Institute predicts that global property and casualty insurance premiums will rise in tandem with GDP over the upcoming decade. This growth is driven by amplified natural catastrophe losses, asset accumulation, and heightened economic and litigation claims inflation. The institute's report outlines the evolving insurance landscape amid increasing global risks. - read more

Insurance Council of Australia Assists NSW Flood Claimants

09 Sep 2025: Paige Estritori

In response to the devastating floods that swept across New South Wales' Mid North Coast in May, the Insurance Council of Australia (ICA) is taking proactive steps to support the affected residents. Insurers, organised by the ICA, will be meeting with flood victims in Kempsey, Taree, and Port Macquarie to provide guidance and support as they navigate their insurance claims. - read more

Ombudsman Upholds Policyholder’s Claim Despite Fraud Allegations

08 Sep 2025: Paige Estritori

A motor insurance policyholder has won a significant dispute over fraud allegations, with the industry ombudsman ruling in favour of a payout following a controversial car accident claim. The case revolved around an incident where the claimant's wife crashed at an intersection one evening, reportedly failing to yield. The lack of photographic evidence due to shock and subsequent involvement of towing services complicated matters. - read more

Click for more Insurance News

Commercial Property Insurance Articles

What does Commercial Property Insurance cover?

Commercial property insurance is vital for anyone who owns or operates a business that involves a physical location. This type of insurance protects your business premises, equipment, and any inventory within the space. Whether you're a landlord, a small business owner, or a property investor, having a solid understanding of commercial property insurance is essential. It not only safeguards your physical assets but also provides peace of mind for your financial investment. - read more

The Essential Checklist for Property Investors: Filing a Claim with Confidence

As a property investor, having the right commercial property insurance is vital. It protects your investment against unexpected events, ensuring that your assets are safeguarded. Commercial property insurance covers a range of risks that can lead to significant financial losses, from natural disasters to theft. Understanding the nuances of this insurance is essential for making informed decisions that impact your bottom line. - read more

Beyond the Basics: Essential Add-Ons for Comprehensive Commercial Property Insurance

Commercial property insurance is a vital safeguard for businesses and landlords, protecting physical assets from a variety of risks. This type of insurance covers a range of properties, from office buildings to retail spaces, ensuring that in the event of damage or loss, you have financial support to recover your investment. - read more

Understanding Commercial Property Insurance for Multiple Locations: What Landlords Need to Know

When it comes to owning commercial properties in Australia, understanding the ins and outs of insurance is crucial. Commercial property insurance serves as a safety net, protecting your valuable assets against unforeseen events. It's designed to cover the buildings themselves, as well as any equipment, inventory, and even loss of income due to disruptions. - read more

Natural Disasters and Your Commercial Property: Is Your Insurance Adequate?

Australia is known for its diverse landscapes, but one of the harsher realities it faces is the increasing frequency of natural disasters. From bushfires in the outback to devastating floods in urban areas, these events can have severe implications for commercial properties. Business owners must navigate the challenges of not only protecting their assets but also ensuring the continuity of their operations. - read more

Knowledgebase

Umbrella Policy:
An additional insurance policy that provides extra liability coverage beyond the limits of the insured's primary policies.

This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008, authorised Financial Services Representative of Unique Group Broker Services Pty Ltd, Australian Financial Services License 509434. Visit the ASIC website for additional licensing information.

IMPORTANT: We are neither authorised nor licensed to provide finance or finance products. We do not recommend any specific financial products and we do not offer any form of credit or other financial advice. All product enquiries and requests for financial and/or other advice on this website are referred to third party, qualified intermediaries with whom you can 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 part 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.