NIBA MEMBER CONSULTATION - Parliamentary Inquiry into Small Business Insurance 

  • NIBA MEMBER CONSULTATION - Parliamentary Inquiry into Small Business Insurance 

    Provision, regulation, and pricing of modern insurance products for small businesses, not-for-profit and community organisations 

  • About This Consultation 
    The Parliamentary Joint Committee on Corporations and Financial Services has launched an inquiry into small business and not-for-profit insurance. This inquiry, referred by Assistant Treasurer Dr Daniel Mulino, presents a significant opportunity for NIBA to demonstrate the essential role the broking profession plays in helping Australian businesses access, understand, and afford appropriate insurance protection. 

    NIBA is preparing a comprehensive submission and seeks your insights and experiences to ensure our response reflects the realities of the market as you see them every day. Your feedback will directly inform our advocacy to Parliament. 

    We are particularly interested in specific examples and case studies — both positive and challenging — that illustrate the value the broking profession provides and the barriers your clients face. 

    Thank You 

    Your practical insights are invaluable in ensuring NIBA’s submission reflects the real-world experiences of brokers and their clients. The evidence you provide will help us demonstrate to Parliament the essential role the broking profession plays in supporting Australian small businesses and community organisations. 

    For any questions about this consultation, please get in touch with the NIBA Policy and Advocacy Team at policy@niba.com.au. 

  • Section 1: Access to Contemporary Coverage

    The inquiry is examining access to coverage for public liability, professional indemnity, cyber threats, and business interruption.

  • 1.1 Coverage Gaps and Emerging Risks

  • 1.2 Hard-to-Place Risks and Niche Sectors

  • 1.3) The Value of Professional Advice and Innovation

  • Section 2: Affordability and Availability

    The inquiry is examining affordability and availability across different regions and sectors, including regional/remote Australia and high-risk industries.

  • 2.1 Premium Trends and Client Impact

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  • 2.2 Regional and Remote Markets

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  • 2.3) High-Risk Industries and Activities

  • 2.4 Public Liability Insurance

  • 2.5) Impact of Taxes and Levies

  • Section 3: Adequacy of the Regulatory Framework

    The inquiry is examining whether the current regulatory framework adequately addresses modern insurance challenges.

  • 3.1 Regulatory Burden and Proportionality

  • 3.2 Upstream Compliance and Cost Pressures

  • 3.3 State and Territory Regulatory Harmonisation

  • 3.4 Access to Advice and Remuneration

  • 3.5 Consumer Understanding and Protection

  • Section 4: Related Matters

    The inquiry invites submissions on any related matters.

  • 4.1 Mitigation and Risk Reduction

  • 4.2 Claims Experience

  • 4.3 Your Recommendations

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