Insurers have set up 24/7 hotlines and the ICA has set up a task force and is working with the government to track claims and support Australians affected by the conflict.
Shipping firms face stricter underwriting terms and rising costs as marine insurers react to heightened conflict risk in the Gulf and surrounding waters.
Despite headwinds from interest rate normalisation and yen depreciation pressures, Japanese life insurers continue to demonstrate sound fundamentals and broadly stable premium levels.
The proposed fund, intended for building hard infrastructure against flooding in high-risk communities, would be co-invested by federal and state governments over 10 years.
