Pool expected to achieve 100% coverage by year's end, but despite positive impact, external pressures appear to be widening Australia's protection gap.
Sia Partners benchmark of digital motor and property journeys reveals Australia at top, Hong Kong and Singapore duking it out mid-table, while China has significant potential for improvement.
New ICA Charter aims to improve response and coordination to nat cats and introduces a new insurance event designation for catastrophes of unprecedented scale.
Majority of losses come from motor line, with Office of the Insurance Commission announcing new disaster management measures to expedite industry response to floods.
