Australia opens inquiry into small business insurance affordability, availability and fit-for-purpose cover

Sydney, 26 February 2026 – A Federal parliamentary inquiry will examine whether insurance products relied on by small businesses, not-for-profits and community organisations are keeping pace with contemporary risks, including affordability, availability and fit-for-purpose cover.

The Business Council for Sustainable Development Australia (BCSDA) is working with members and partners to support evidence-based contributions to the inquiry, led by the Parliamentary Joint Committee on Corporations and Financial Services. Submissions close on Friday, 6 March 2026.

The inquiry is examining the provision, regulation and pricing of insurance products commonly relied on by small businesses and community organisations, including public liability, professional indemnity, cyber insurance and business interruption. It also considers affordability and availability across regions and sectors, including regional and remote Australia, as well as the adequacy of the current regulatory framework in responding to modern insurance challenges.

The committee has noted escalating costs and reduced availability are among the matters identified for consideration.

BCSDA is encouraging members and partners to consider lodging submissions to the inquiry. Members are also invited to share case studies or examples illustrating affordability pressures, availability constraints or fit-for-purpose gaps. Where appropriate, BCSDA will coordinate credible, de-identified evidence across small business, NFP and community sectors to improve policy outcomes, noting the committee’s role is to inform reform rather than resolve individual disputes.

“To achieve workable policy outcomes, it is important that the committee hears from small businesses, not-for-profits and community organisations about how insurance settings operate in practice,” said Andrew Petersen, CEO at BCSDA. “Documented, real-world experience can help inform policy and regulatory settings over time.”

BCSDA will support members through guidance on submissions, assistance to frame evidence and case studies, and synthesis of key themes emerging from member input. Organisations can lodge submissions directly with the committee, while BCSDA members and partners can also share de-identified examples with BCSDA for aggregation into evidence-led themes.

ENDS

About BCSDA

The Business Council for Sustainable Development Australia (BCSDA) is a non-profit organisation dedicated to operationalising sustainable development practices among Australian businesses. BCSDA was established in Australia in 1991 and works with over 70 leading global businesses and other organisations to drive systemic transformation in key sectors, advocating for sustainable leadership and rewarding action through education, partnerships, and policy influence.

In 2014 the organisation was appointed Australia’s Network Partner for World Business Council for Sustainable Development (WBCSD).

BCSDA’s members believe that by integrating social and environmental impacts with financial results, business lowers its risk profile, makes better decisions and creates the solutions needed to meet the Sustainable Development Goals.

BCSDA’s members include leading Australian businesses, from all sectors, who share a commitment to economic, environmental and social development. It represents member companies, public sector enterprises and institutions, and community organisations, which in turn represent 120,000+ Australian employees. www.bcsda.org.au 

For further information contact: Andrew Petersen, CEO, Business Council for Sustainable Development Australia, +61 412 545 994