Sean Carmody acknowledged that reducing Australia's protection gap is a 'wicked problem', but he encouraged insurers to take ownership and find opportunities to make a difference.
New report shows improvement in accessibility, but warns 'misalignment on views of cyclone pool coverage' and building cost inflation remain key issues for affordability.
Insurance Council of Australia's Andrew Hall delivered an impassioned speech on the country's protection gap — urging short-term tax reform alongside other medium and long-term recommendations.
GlobalData predicts Australia's general insurance market to grow to AU$123.1bn (US$77.7bn), driven by heightened healthcare awareness and increasing rates for property and motor insurance — but challenges...
In its 22-23 report, the Australian Prudential Regulation Authority summarised work it undertook to enhance sector resilience and improve policyholder outcomes, while acknowledging escalating challenges...
Smith spoke at the Insurance Council of Australia's Annual 2023 Conference and emphasised importance of balance in the face of issues like cost-of-living pressures and natural catastrophes.
