Liability Insurance News Wrap for Tradies and Business
Each week, we break down the biggest Australian liability news in plain English — regulatory updates, court decisions, claim trends, and risk issues affecting tradies, contractors, and small business owners. Expect a clear, weekly recap with context, practical takeaways, and what to watch next across public and professional liability. Trustworthy, independent, and easy to digest, it’s your steady briefing to stay compliant, understand obligations, and make informed, day-to-day decisions.
This Week:
This week: a new asbestos liability option emerges for tradies; NSW backs 10‑year decennial defects cover for new apartments; a NSW inquiry weighs competition in solicitors professional indemnity; and ASIC proposes extending relief that keeps general insurance claims‑handling processes familiar through 2032–33. Practical moves: confirm asbestos exclusions, align your liability and PI limits with project requirements, keep documentation tidy, and store your policy and FSG together for faster claims.
EPISODE 2673 | Liability Insurance News Wrap for Tradies and Business | Sun, 16th Aug 2026
18 Aug 2026 | Paige Estritori
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Hello and welcome to Liability Insurance News Wrap for Tradies and Business, Im Paige Estritori, and its Sunday, 16 August 2026.
First, asbestos risk. A specialist underwriting agency has launched standalone liability cover for tradespeople and property owners who accidentally disturb asbestos during routine work. Standard public liability policies usually exclude asbestos, so this is a meaningful gap-filler. If you work on pre‑2004 buildings, ask your broker whether asbestos incidents are excluded and whether a specialist extension is available. Keep job notes and pre‑work checks on file to support any claim.
Next up, New South Wales has passed legislation to allow decennial liability insurance — thats a 10‑year building defects cover — for new apartment buildings. Expect tighter quality controls, more documentation, and stronger contractual insurance requirements flowing down to subcontractors. Make sure your public liability and, where relevant, professional indemnity meet project minimums, and keep completion photos and compliance certificates handy.
Meanwhile, a NSW parliamentary inquiry will review options to introduce competition into solicitors professional indemnity (PI) insurance. Its a signal that governments are re‑examining how PI markets operate. If youre a legal firm, monitor the review and stay close to your broker on limits and retroactive dates. For other professions, its a good reminder to check your PI is current, industry‑compliant, and matched to the work you actually do.
And ASIC — the Australian Securities and Investments Commission — has proposed extending certain relief instruments affecting general insurance claims handling through 2032–33, including arrangements tied to claims staff authorisations and Financial Services Guides, or FSGs. The substance wouldnt change; the sunset dates would. For small businesses, that means familiar processes should continue. Keep your policy, FSG and authority-to-act letters together so claims can be handled quickly when something goes wrong.
Thats the wrap. For clear explanations and quick, obligation‑free quotes across public liability, professional indemnity and more, head to liability-insurance.com.au. Im Paige Estritori — talk next 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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