The proposed legislative amendment aims to ensure risks arising in the disaster insurance market are distributed more equitably between insurers and the state.
The council is urging the next government to back resilience infrastructure, stronger land-use planning and long-term funding to reduce natural hazard risks and protect insurance affordability.
The government revived the blocked proposal, maintaining that the resulting savings are needed to expand aged care capacity and support older Australians.
Fairfax said Digit and IIFL Capital would retain their existing management teams while gaining access to IDBI Bank's customer base and distribution network.
The measures are part of a broader effort to strengthen supply-chain resilience as geopolitical risks continue to pressure maritime transport and insurance markets.
The decision follows opposition from Queensland councils, with further changes aimed at preserving access to recovery assistance and easing funding eligibility.
The change is expected to have a significant financial impact on lower-income older Australians, including pensioners and part-pensioners, while placing additional pressure on the public hospital syst...
