The industry body says procedural reform and consistent national rules are needed to tackle rising legal costs and restore public liability market stability.
Australia’s per capita losses from extreme weather remain among the world’s highest, prompting the ICA to renew calls for tax, planning, and disaster funding reforms.
The Insurance Commission has also activated dedicated assistance channels in Cebu and Manila, aiming to streamline access to insurance services for those affected.
Violent demonstrations in Kathmandu caused extensive damage to businesses and institutions, with reinsurance, primarily through Nepal Re, expected to cover the majority of industry losses.
