Friday, 28 August 2026
Get your quote here and now. Whether you are protecting your Brisbane home, managing a Queensland investment property or running a business vehicle, now is a good time to review your cover. Use the quote option that applies to you:
Insurance profits swung sharply in one quarter
Australia’s general insurance industry has experienced a sharp profit swing over the past year.
The latest quarterly industry data shows profit after tax falling from about $2.27 billion in one quarter to just $134 million in the following quarter. By the June 2026 quarter, profits had recovered to around $2.25 billion.
That movement may look confusing. It also shows why insurance pricing cannot be judged by one quarterly result.
The large fall was linked to frequent, medium-sized weather events. These events caused significant damage but did not reach the level needed to activate some catastrophe reinsurance protections.
In simple terms, insurers had to absorb more of the claims costs themselves.
The latest quarterly industry performance data provides a useful view of how quickly the industry’s results can change.
Why medium-sized weather events matter
A major cyclone or flood may attract most of the public attention. However, a series of smaller storms, hail events and flooding incidents can also create a serious claims burden.
For insurers, the issue is not only the size of one event. It is the number of events occurring close together, the number of claims that follow, and the cost of repairing or replacing damaged property.
In Queensland, this can include:
- Storm damage to roofs, fences and solar panels.
- Hail damage to vehicles and commercial buildings.
- Flood damage to homes, contents and business stock.
- Water damage from burst pipes and heavy rainfall.
- Temporary closure of businesses after property damage.
- Higher demand for builders, trades and materials after a weather event.
When these events sit below certain reinsurance thresholds, insurers may retain more of the cost. That can affect underwriting results and future pricing.
Recent industry analysis also points to a major increase in natural hazard claims and claims costs. Natural hazard losses in 2025 were substantially higher than in the previous year.
Why premiums can rise when profits recover
A stronger quarterly profit does not mean insurance premiums will immediately fall.
Premiums are based on expected future risk, not only on the industry’s result from the last three months. Insurers must consider the cost of claims, repair work, construction materials, labour, reinsurance and the likelihood of future weather events.
Gross written premiums continue to rise for several reasons:
-
Climate risk is being priced more carefully.
Areas exposed to flooding, storms, bushfires or cyclones may attract higher pricing or tighter terms. -
Construction costs remain elevated.
Rebuilding a Queensland home or commercial property can cost much more than it did several years ago. -
Claims are becoming more expensive.
A damaged roof may require temporary protection, specialist materials, scaffolding and urgent labour. -
Reinsurance costs have increased.
Reinsurance helps insurers manage very large losses. When that protection becomes more expensive, some of the cost flows into premiums. -
Insurers are retaining more risk from frequent events.
Repeated medium-sized storms can create substantial losses even without one major catastrophe.
For Brisbane homeowners, landlords and business owners, the practical message is clear: renewal prices may continue to rise even when insurer profits look healthier.
There is no single “average cost” that applies to every Brisbane policy. The price depends on the property location, construction, sum insured, claims history, business activities, flood exposure, security, excess and selected benefits.
Cover quality matters more than price alone
A lower premium is not automatically better value.
A policy may be cheaper because it has a lower sum insured, a higher excess, narrower cover, more exclusions or fewer benefits after a claim.
For example, a homeowner may reduce the building sum insured to manage the renewal price. If the property is later destroyed, that decision could create an underinsurance problem. Underinsurance means the amount insured may not be enough to cover the full cost of rebuilding.
A landlord may focus on building cover but overlook loss of rent, tenant damage or liability exposure.
A business owner may insure equipment but not allow enough time or money for the business to recover after a major interruption.
The policy wording matters. So do the definitions, conditions, exclusions, sub-limits and excesses.
Where Business Insurance Consulting can help
Business Insurance Consulting helps Brisbane and Queensland clients make more informed insurance decisions during a volatile market.
Access to more than 150 insurance markets
Business Insurance Consulting can access more than 150 insurance markets. This gives the team more scope to compare different terms, pricing structures and coverage options.
Market access does not mean every policy will be suitable. The important step is matching the available options to the actual risk.
Cover designed around the risk
Off-the-shelf packages do not always reflect how a business or property is used.
Business Insurance Consulting takes time to understand the client’s activities, assets, income, contracts and exposures. This can help identify whether the right options include:
- Business property insurance.
- Public liability insurance.
- Business interruption insurance.
- Commercial motor insurance.
- Tools and equipment cover.
- Professional indemnity insurance.
- Cyber protection insurance.
- Landlord insurance.
- Home and contents insurance.
You can learn more about business insurance in Brisbane, public liability insurance and professional indemnity insurance.
Plain-English explanations
Insurance documents can be difficult to read.
Business Insurance Consulting explains important sections in plain English, including what is covered, what is not covered, how limits work and what the client must do after an incident.
This is especially useful where a policy includes specialist terms such as reinstatement, indemnity, liability, defined events or business interruption.
Support during a claim
A claim can be stressful, particularly when a business is closed or a property cannot be occupied.
Business Insurance Consulting can provide claims support and advocacy. This may include helping gather documents, communicating with the insurer, clarifying requests and keeping the process moving.
After an incident, take reasonable steps to prevent further damage where safe, photograph the loss, keep records and notify Business Insurance Consulting as soon as possible. The claims guide provides further practical steps.
Three local examples
A Brisbane tradie with expensive tools
A tradie may carry tools between a work vehicle, job site and home garage.
The right cover needs to consider where the tools are stored, how they are transported, whether equipment is hired or owned, and how quickly the business could continue if the tools were stolen or damaged.
Business Insurance Consulting can review the tool values, vehicle use and liability exposures rather than relying on a basic business package.
A Queensland investment property owner
A landlord may depend on rental income to meet loan repayments and property expenses.
A suitable landlord policy may need to consider storm and flood damage, building repairs, landlord contents, loss of rent, tenant-related damage and liability.
The landlord insurance guide explains why the exact policy wording matters. Cover varies, and exclusions can apply.
A homeowner in a storm-exposed suburb
A homeowner in a Brisbane suburb exposed to severe storms may need to review the roof condition, retaining walls, fences, sheds, solar panels and contents.
The building sum insured should reflect the likely cost of demolition, debris removal, professional fees, materials and rebuilding. It should not be based only on the property’s market value.
Business Insurance Consulting can help review the building and contents sums insured and identify areas where the policy may no longer match the home.
See the home and contents insurance guide for more information.
A simple insurance review checklist
Before your next renewal, check:
- Has the value of your home, building, equipment or stock changed?
- Have you renovated, extended or altered the property?
- Have you bought new tools, vehicles, machinery or technology?
- Is your business income limit still realistic?
- Would your current sum insured cover today’s rebuilding costs?
- Have your business activities or contracts changed?
- Do you need flood, storm, theft or accidental damage cover?
- Are your excesses affordable if you need to claim?
- Have you checked key exclusions and sub-limits?
- Do you have photos, invoices and asset records available?
- Have you completed reasonable mitigation work, such as roof maintenance, drainage improvements or better security?
Keeping records of resilience and mitigation can also help explain how risks are managed. Useful documents may include maintenance records, property photos, alarm details, electrical inspections and invoices for protective work.
What should Brisbane readers do now?
The current market is unlikely to become simple overnight.
Weather losses remain volatile. Construction and repair costs remain important. Premiums are still under pressure. A headline profit recovery does not remove the need for careful policy review.
The best response is preparedness.
Start your review before the renewal notice arrives. Allow time to check sums insured, compare suitable options and ask questions about wording. Business Insurance Consulting can help business owners, homeowners and Queensland property investors understand their choices.
Has your insurance renewal increased this year, and which part of your cover are you most concerned about? Share your experience in the comments.
Ready to review your cover?
If you operate a business, own a Brisbane home or manage a Queensland investment property, now is a practical time to review your insurance.
Contact Business Insurance Consulting for help with market options, tailored cover, claims support, policy wording and sum insured reviews.
Request a quote or contact Business Insurance Consulting.
Disclaimer: This info is general advice only and doesn't consider your personal goals or financial situation. Before making a decision, please read the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD). Give us a shout if you need specific advice!
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Phone: 0412 212 099 | Email: craig@businco.com.au | Website: https://businessinsuranceconsulting.com.au
Contact: craig@businco.com.au | 0412 212 099 | businessinsuranceconsulting.com.au
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