Each week, Keyperson Insurance Weekly News Podcast distils the biggest local and global stories shaping risk, regulation and business continuity for Australian companies. Expect concise headlines, plain‑English context, and what it means for your team and operations. We sort signal from noise across insurers, regulators and market trends, so you stay informed and prepared. No hype—just a reliable, time‑saving briefing you can trust.
This Week:
This week: the life insurance watchdog reports payment delays rising for income protection despite fewer overall breaches; CALI highlights a surge in income support with mental health driving many claims; the Budget revives loss carry‑back and adds future startup loss refunds to help SME cash flow; and ASIC says $2.7b in unclaimed money includes insurance, while the ATO warns super consolidation can cancel default cover. Practical steps include tightening claim documentation, reviewing keyperson settings, and checking unclaimed funds and super‑held insurance.
Hello and welcome to the Keyperson Insurance Weekly News Podcast, Im Paige Estritori, and its Sunday, 17 May 2026.
First up, the industry watchdog says overall breaches of the Life Insurance Code fell sharply last year, but delays paying income protection benefits jumped about two‑thirds. The Life Code Compliance Committee, or LCCC, flagged more missed deadlines on ongoing benefit payments, even though total breaches fell and fewer customers were affected overall. For business owners who rely on income protection for a key person, this underscores two things: make sure claim documentation is complete and up to date, and favour policies with clear, plain‑English timelines for when benefits are paid.
Meanwhile, a new report co‑authored by the Council of Australian Life Insurers, or CALI, shows more Australians are leaning on the income‑support safety net. About $79 billion was paid across government, employers and insurers in the past year, with life insurers paying more than $8 billion in income protection and total and permanent disability, or TPD, benefits. Mental health now drives roughly a third of TPD claims and about a fifth of income protection claims. The takeaway for leaders is simple: plan for longer absences and check your key person cover, waiting periods and return‑to‑work support, so the business can keep operating if a critical team member is off work.
On the small‑business front, the Federal Budget confirmed loss carry‑back for companies with turnover under $1 billion, allowing a current‑year loss to be offset against tax paid in the prior two years. Theres also a future refundable loss offset for early‑stage startups from 1 July 2028, tied to employee taxes paid. That could ease cash flow in lean years. If youve been putting off risk management, these changes may help free up budget to maintain essential protections like keyperson cover without over‑stretching day‑to‑day operations.
And a reminder that unclaimed money is piling up. About $2.7 billion is sitting on the national register run by ASIC, the Australian Securities and Investments Commission, including funds linked to old insurance policies. Interest may have accrued on some balances. The ATO, the Australian Taxation Office, also notes around $19 billion in lost and unclaimed super, and warns that consolidating accounts can switch off default insurance held through super. Practical step for the week: check beneficiary details on your policies, search the free unclaimed money register, and review any super‑held cover before consolidating.
Thats it for this week. For clear guides, comparisons and a quick way to explore coverage options, head to keyperson-insurance.com.au. Im Paige Estritori—thanks for listening, and Ill catch you next Sunday.
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.
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Knowledgebase
Aggregate Limit: The maximum amount an insurer will pay for all covered losses during a policy period.
