Each week, Business Life Insurance Australia delivers a clear, trustworthy wrap of the stories shaping risk and resilience for Australian businesses. In under 15 minutes, get concise updates on key person risk, succession and governance shifts, tax and compliance headlines, regulator and court developments, and market trends impacting SMEs and executives. Expect plain-English context, what it means for your organisation, and the signals to watch ahead—so you can plan with confidence.
This Week:
This week: Australians trust human advice over AI for major life insurance decisions; the Life Code Compliance Committee flags renewal notice failures and what SMEs should do; card surcharges end on 1 October with banks cutting fees and new RBA interchange caps, so review cash flow and premium frequency; and trust tax reform may trigger state stamp duty in some cases, so avoid rushing restructures and seek advice. Concise, practical signals for owners managing key person, buy–sell and executive cover.
EPISODE 3089 | Business Life Insurance Weekly Industry News Wrap | Mon, 28th Sep 2026
28 Sep 2026 | Paige Estritori
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Read Full Transcript:
Hello and welcome to Business Life Insurance Weekly Industry News Wrap, Im Paige Estritori, and its Monday, 28 September 2026.
First, Australians are using artificial intelligence for research, but many still dont trust it for big financial decisions like life insurance. That gap reinforces the value of licensed human advice when youre setting up key person, buy–sell, or executive cover. Use digital tools to compare, then lean on an experienced adviser to tailor the policy to your business structure and risks.
Meanwhile, the Life Code Compliance Committee, the industrys code watchdog, has warned insurers about renewal notice failures after systems changes led to missed communications and even cancellations. For businesses, a missed notice can put continuity cover at risk right when you need it. Check your contact details and payment methods, keep a central register of all policies, set reminders for review dates, and ask your adviser for an annual policy audit.
Next up, card surcharges end on Tuesday, 1 October, and banks are cutting merchant fees ahead of the change. The Reserve Bank of Australia is also trimming most consumer credit card interchange caps to about 0.3 per cent, while business card rates stay around 0.8 per cent. If you used surcharges to offset costs, build the new fees into budgets now. Review accepted payment types and consider aligning premium payment frequency or direct debit schedules to smooth cash flow.
And a heads‑up on tax structuring. Draft federal trust tax reforms include an optional fixed‑distribution election, and advisers say states may still treat some changes as stamp‑duty events. If your buy–sell or key person cover is owned via a trust, dont rush restructures. Wait for final law, model scenarios with your accountant, and confirm any insurance ownership or beneficiary changes with your adviser before you move.
Thats the wrap. For clear guidance and to compare business life insurance with Australia‑wide broker support, visit business-life-insurance.com.au. Thanks for listening and have a resilient week.
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
Grace Period: A time period after the premium is due during which an insurance policy remains in force even if the premium has not yet been paid.
