EV adoption, premium rate increases, and technology-enabled underwriting are expected to support expansion in the segment through the second half of the decade.
The reforms target lower personal injury premiums, broader access to time-based motorcycle insurance, and the transfer of no-claims discounts when motorcycles are replaced.
Industry-wide insurance service results jumped 27% YoY, supported by claims stabilisation and fast premium growth across cyber, mortgage, marine, aviation, and consumer credit.
The review will examine how professional indemnity insurance operates when financial services firms enter voluntary administration, winding-up, or deregistration.
The loss figure covers property and motor hull lines of business, in line with the PERILS coverage definition for Australia and based on data collected from affected insurers.
