Industry participants say the proposed framework, set to launch by 2028, could reduce costs, improve operational efficiency and support broader adoption of captives and insurance-linked securities.
Researchers say insurers, reinsurers and governments must balance competing trade-offs around risk sharing, pricing and mitigation to sustain disaster coverage.
The reshuffle covers the board that oversees Australia's terrorism and cyclone reinsurance pools, with new and reappointed members holding terms through 2028 and 2030.