Government/NGO funding, Nat Cat, News, Non-life, Property

NSW State Budget a ‘missed opportunity’ for critical insurance tax reforms: ICA

The ICA welcomed disaster funding in the New South Wales' 23-24 State Budget, but continues to call for insurance tax reform for the state that bears the highest insurance taxes in the country.

Editorial team

September 19, 2023

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3 min read

Banner for 22nd SIRC: 'Capacity to Capability'—Building resilience through innovation; futuristic city skyline with a glowing highway; Nov 1–5, 2026 at Sands Expo & Convention Centre.

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Market conditions continue to evolve as businesses review their priorities and plans for growth. The pace of change varies across the region, with local factors shaping how organisations respond.

Attention is turning to the balance between near-term opportunities and longer-term objectives. Decisions made today will help determine how businesses adapt as conditions develop.

While the outlook remains varied, the broader direction reflects a market adjusting to new demands. The implications will become clearer over time as plans move into practice.