Market Update

Insurance Premiums - are on the increase

Soft and Hard Market Cycles

After 10 years of reducing insurance premiums, the Australian Insurance Market is changing from a soft “low cost – same cost as last year” cycle towards a hardening “increase in premium” / "sellers market".

In recent years, the insurance industry experienced a highly competitive or ‘soft’ market, typified by strong capacity from many companies to write business in what has been, until recently, a very profitable environment.

In a soft market, insurance premiums are typically low as a result of increased competition amongst insurers, with buyers enjoying reduced premiums year on year. 

Since 2004, the commercial insurance market has experienced a soft cycle where premium rates generally dropped each year as competition intensifies.

For more information on current market conditions please click on the "Download a Brochure" button to the right. 

In recent years, the insurance industry experienced a

highly competitive or ‘soft’ market, typified by strong

capacity from many companies to write business in what

has been, until recently, a very profitable environment.

In a soft market, insurance premiums are typically low

as a result of increased competition amongst insurers,

with buyers enjoying reduced premiums year on year.

Since 2004, the commercial insurance market has

experienced a soft cycle where premium rates generally

dropped each year as competition intensified.