Two of Australia’s largest general insurers marked separate reconciliation milestones during NAIDOC Week 2026. The announcements arrive at a moment when the industry’s regulator, peak body, and its own post-disaster fieldwork have placed the insurance access gap facing Aboriginal and Torres Strait Islander communities on formal record.
QBE Insurance Australia launched its Stretch Reconciliation Action Plan (RAP) 2026-2029 on July 16. Suncorp announced the completion of its Innovate RAP 2024-2026 the same week. Both follow a June 2026 move by the Insurance Council of Australia (ICA) to release its own Innovate RAP – a document that names the access problem in terms that go further than corporate language typically does.
The ICA’s Innovate RAP, covering April 2026 to April 2028, states that Indigenous communities are disproportionately exposed to extreme weather events, are more likely to be uninsured or underinsured than the broader population, and that existing insurance products do not consistently meet the needs of Indigenous consumers and small businesses. These access gaps have been observed firsthand: following the 2022 floods, senior ICA representatives travelled to affected regions and spoke directly with local community members about their recovery experiences and the difficulties facing Indigenous organisations. A similar engagement occurred after Tropical Cyclone Jasper in 2024.
The Australian Prudential Regulation Authority’s (APRA) March 2026 Insurance Climate Vulnerability Assessment (CVA) provides the quantitative dimension. The stress test found that around 20% of households in regional centres and 25% in rural areas are currently uninsured – compared to approximately 11% in capital cities. Under both of APRA’s stress scenarios, those figures are projected to exceed 30% in regional centres and 40% in rural areas by 2050.
The geographic overlay is direct. While First Nations people are more likely to live in urban and regional areas overall, the proportion of the total population who are First Nations increases with remoteness – reaching 30% in remote and very remote areas, based on 2021 Census estimates. The communities facing the widest and fastest-growing protection gap are the same communities where Aboriginal and Torres Strait Islander people make up the largest share of the population.
QBE’s transition from Innovate to Stretch is a step up Reconciliation Australia’s four-tier framework – from Reflect and Innovate through to Stretch and Elevate – and signals a move from foundational commitments toward defined, measurable outcomes. More than 3,000 organisations have now formalised reconciliation commitments through the RAP program. The Stretch RAP is structured around four pillars: strengthening workplace inclusion, improving financial and customer inclusion, expanding supplier diversity, and supporting community and climate resilience. The explicit inclusion of financial and customer inclusion as a pillar maps directly onto the access gap the ICA has documented.
Sue Houghton, chief executive officer at QBE Australia Pacific, described the plan as a continuation and deepening of a decade-long commitment. “As an insurer, we recognise the role we play in supporting stronger, more resilient communities. This plan challenges us to deepen our impact by strengthening relationships, expanding opportunities, and embedding reconciliation across our core business practices,” Houghton said.
Shiona Watson, chief people officer at QBE Australia Pacific and RAP executive sponsor, pointed to accountability as central to the Stretch framework. “Reconciliation starts with listening, learning, and taking meaningful action. This Stretch RAP sets out clear priorities to build cultural confidence across our organisation, expand opportunities with and for Aboriginal and Torres Strait Islander peoples, and ensure our workplace is inclusive, respectful, and safe for all,” Watson said.
The most commercially specific element of QBE’s announcement is its ongoing partnership with First Australians Capital (FAC), an Indigenous-led organisation focused on capital access. The QBE Foundation provided FAC with a $500,000 seed capital grant in 2024. According to QBE, since 2016 FAC has worked with more than 1,000 Indigenous businesses, helped establish more than 1,300 jobs, supported more than 1,085 businesses to grow, and secured more than $90 million in funding for the First Nations economy. Karen Mundine, chief executive officer at Reconciliation Australia, acknowledged QBE’s potential to scale outcomes through its industry relationships. “Through its productive collaborations with industry and First Nations partners, QBE has the potential to drive considerable reconciliation outcomes across its sphere of influence,” Mundine said.
Suncorp’s Innovate RAP 2024-2026 – its third RAP overall – directed activity toward inclusive employment, engagement with First Nations businesses, and internal cultural learning programs. The company has not announced a framework type or timeline for its next plan. Stephen Nutbean, executive group manager customer service at Suncorp, framed the milestone as a transition point. “Through our RAP, we’ve strengthened our partnerships with First Nations communities, increased engagement with First Nations businesses, and continued to build cultural understanding across our workforce. While we’re proud of the progress made, we know there is more to do, and we remain committed to continuing to build on these foundations through the next phase of our reconciliation journey,” Nutbean said.
The sector-wide trajectory extends to the prudential regulator. APRA launched its own second Innovate RAP in October 2025, covering the period through September 2027, with a stated focus on exploring its specific role in promoting reconciliation within the financial system it supervises. The ICA has committed to directly engaging Indigenous communities to understand the barriers they face in accessing insurance, with that work targeted for completion by October 2026. For insurance professionals, the picture that emerges is one where reconciliation commitments and the protection gap are the same structural problem, now formally acknowledged at the company, peak body, and regulatory level simultaneously.
