What we have seen in June renewals
June renewals are stable and competitive for corporate travel, group personal accident and executive travel programmes with predictable exposures. Strictly domestic travel policies and large corporate risk-managed accounts with substantial premium pools are seeing a sustained rate reduction in accordance with the soft market.
The corporate travel market has encountered significant geopolitical events within the past six months. The conflict involving Iran, Israel and US military operations resulted in insurers implementing a 1 March cutoff date. Whereby bookings made prior to this date will be assessed under existing terms, and those made after will be subject to known event underwriting positions and heightened restrictions.
A growing number of employers are operating across borders, with more employees taking on international assignments or secondments. This momentum is expected to continue, creating sustained demand for corporate travel solutions. The Personal Accident market is also seeing a clear rise in policy demand as employers reinstate in-office days, with the need for journey cover increasing as a result.
Market appetite for Accident & Health remains cautious, with an anticipated increase in claims during the second half of the year potentially driving premium increases for corporate travel policies.
Whether pricing is soft, flat or correcting
Pricing is flat to -10% for quality corporate and group risks and flat to +10% for adverse claims, hazardous occupations, high-risk travel or medical inflation sensitivity. Medical expense inflation continues to push insurer pricing and policy design upward, while geopolitical pressures are leading insurers to look at slight increases in Accident & Health premiums more broadly.
Insurer behaviour
Insurers are competitive but still exposure led. They are not ignoring geopolitical travel risk, security events or medical cost volatility. Insurers remain cautious toward one-off individual policies, with market appetite continuing to favour group arrangements. Premium levels for expatriate and inpatriate arrangements have stayed stable and broadly consistent with prior years, reflecting a mature and steady segment of the market.
Claims trends
Claims trends include medical inflation, travel disruption, repatriation costs, mental health, weather cancellations and geopolitical travel interruption. There has been a relatively low increase in claims due to the international spring travel season being quieter than the summer travel season. As international travel activity increases, insurers expect a rise in claims frequency, and once this trend is reflected in claims data, premiums are likely to adjust accordingly. At present, premiums remain largely unaffected by global economic conditions.
With more employees commuting more often as employers reinstate in-office days, the need for journey cover has increased, and this shift is driving a noticeable uplift in claims activity tied to travel-related incidents. Medical expense inflation continues to push insurer pricing and policy design upward, with ongoing inflationary pressures continuing to push Group Personal Accident premiums upward.
Legal and regulatory developments
Duty of care, Workplace Health and Safety (WHS) obligations and corporate travel governance remain relevant. Geopolitical instability increases the importance of travel approvals and emergency response protocols.
AI and technology impact
Travel tracking, emergency assistance platforms and digital claims lodgement are improving service expectations. AI can support travel risk alerts but should not replace governance.
What policyholders should do now
Review travel destinations, journey cover, expatriate benefits, evacuation limits, crisis response providers and board-level travel risk governance. Insurers are urging reviews of weekly benefit caps to keep pace with rising wages, while employers and policyholders should consider higher wage-based benefits to reflect current economic pressures and Australia’s broader cost-of-living environment.
Continue reading our full range of market updates:
- Insurance Market Overview: July 2026
- Claims
- Workplace Risk
- Corporate and Multinational Risk
- Construction, Property and Development
- Financial Lines
