Australia's Insurance Market Set for Significant Growth by 2029

Exploring the Factors Driving Expansion in the General Insurance Sector

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.

Australia’s general insurance market is expected to experience steady expansion over the next five years, with total direct written premiums (DWP) projected to reach $144.5 billion by 2029.

This follows a compound annual growth rate (CAGR) of 8.8%, according to analysis by data and analytics firm GlobalData.

Rising insurance needs driven by climate-related disasters, inflationary pressures, and growing demand for health coverage are reshaping the sector. In 2025 alone, the industry is forecast to grow to $102.8 billion - an 8.6% increase from the previous year.

“The growth of the general insurance industry in Australia is attributed to the increasing demand for insurance products that cover extreme weather events and rising premium prices due to inflation and the cost-of-living crisis,” said Swarup Kumar Sahoo, GlobalData senior insurance analyst.

For tradespeople and small business owners in the trades sector, this projected growth indicates a dynamic insurance landscape with evolving products and services. Staying informed about market trends and understanding how they may impact insurance offerings can help in making informed decisions to protect your business effectively.

Published:Tuesday, 16th Dec 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Understanding the Latest Insurance Regulation Changes for Health Care Professionals

20 Dec 2025: Paige Estritori

Recent updates to insurance regulations have introduced significant changes for health care professionals across Australia. These modifications aim to enhance patient safety and ensure that practitioners maintain adequate coverage to protect against potential liabilities. - read more

How Rising Malpractice Claims Are Influencing Insurance Costs for Health Care Professionals

20 Dec 2025: Paige Estritori

The Australian health care sector is witnessing a notable rise in malpractice claims, a trend that is directly impacting insurance premiums for practitioners. This increase is attributed to several factors, including heightened patient awareness and a more litigious environment. - read more

Ensuring Adequate Insurance Coverage Amidst the Telehealth Boom

20 Dec 2025: Paige Estritori

The rapid expansion of telehealth services in Australia has transformed the delivery of health care, offering patients greater accessibility and convenience. However, this shift also brings new considerations for health care professionals regarding their insurance coverage. - read more

Click for more Insurance News

Professionals Insurance Articles

Future Trends in Mobile Services Insurance: What Health Care Providers Need to Know

Mobile services have dramatically transformed the healthcare industry, reshaping how professionals deliver care and interact with patients. With the advent of telemedicine and mobile health apps, accessing healthcare has never been more convenient. This evolution has significantly influenced patient outcomes, making healthcare more accessible and immediate. - read more

Understanding Professional Indemnity Insurance for Australian Health Care Professionals

Professional Indemnity Insurance is a type of coverage designed to protect professionals from claims made against them due to errors, omissions, or acts of negligence in their professional services. Unlike general liability insurance, which covers physical damage, professional indemnity focuses on financial liability. This insurance safeguards your reputation and financial stability by covering legal costs and any settlements or compensation you might have to pay. - read more

Income Protection for Health Workers: What You Need to Know

Income protection insurance is a crucial financial safety net designed to replace a portion of your income if you're unable to work due to illness or injury. For many, it's a vital component of a robust financial plan, offering peace of mind and stability. But why is it particularly important for healthcare professionals in Australia? - read more

Knowledgebase

Insurance Policy Excess:
The amount you will have to contribute when you make a claim.

Quick Links: | Insurance For Health Care Professionals | Professional Indemnity Insurance For Health Professionals | Public Liability Insurance For Medical Practitioners | Medical Malpractice Insurance Australia | Healthcare Professional Insurance Coverage | Allied Health Insurance Policies | Insurance For Nurses And Midwives | Medical Indemnity Insurance Providers | Comprehensive Insurance For Healthcare Workers | Affordable Health Professional Insurance | AHPRA-compliant Insurance Plans | Income Protection For Health Care Professionals

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.