With alternative investment yields fading and bond returns under pressure, insurers are reshaping portfolios and leaning on capital markets, increasing vulnerability to earnings shocks.
The proposed code would introduce contractually enforceable obligations, automatic acceptance of certain claims after 12 months, and expanded protections for vulnerable customers.
The Insurance Council of Australia says insurance customers are projected to contribute more through the Emergency Services Levy than previously forecast, as consultation on reform continues.
Actuaries are examining how quantum error correction breakthroughs could sharpen nat cat models and parametric pricing, though the technology would bring new risks.
