Macro

australian-government-provides-details-on-new-insurance-affordability-and-natural-hazards-taskforce

Australian Government outlines details of new insurance affordability and natural hazards taskforce

June 4 2024

Announced as part of the 2024-25 budget, the new taskforce will adopt a cross-government approach to reducing impacts of nat cats on the community.

High interest rates a "game changer" for life insurance growth, Swiss Re forecasts

May 30 2024

Higher for longer rates predicted to help add US$1.5 trillion in global premiums by 2034, with advanced markets like Australia and Japan leading the surge.

Australian Senate launches new inquiry into insurance affordability

May 20 2024

Inquiry to investigate climate risk's impact on insurance premiums and affordability.

australias-cyclone-reinsurance-pool-achieves-significant-coverage-but-still-faces-challenges-in-lowering-premiums

Cyclone Pool achieves broad coverage but some questions remain over premium reductions

May 9 2024

Pool reaches 95% coverage of eligible risks; however, data quoted by ARPC on premium reductions appears to conflict with findings from the ACCC and ACIL.

APRA calls for innovation and collaboration in the life insurance industry

May 1 2024

Speaking at the 2024 All Actuaries Summit on the Gold Coast, Suzanne Smith called for innovative products that serve Australia's changing demographics.

chinese-life-insurers-revised-economic-assumptions-support-policyholder-expectations-but-lowers-nbv

Chinese life insurers' new economic assumptions strengthen long-term risk management, despite lower NBV: Fitch

April 30 2024

Recalibration to align with low interest rate environment will help align policyholders expectation and boost investor confidence.

RBNZ warns insurance affordability and capacity are under threat in nat cat prone areas

April 30 2024

Industry making 'rational' move to risk-based pricing, but collective action needed to help maintain accessibility for for those most vulnerable.

victorian-government-pressed-to-provide-insurance-relief-for-live-music-venues

Victorian Greens urge state government support for live music venue insurance crisis

April 19 2024

Greens urge government intervention to help combat soaring costs, which threaten Melbourne's live music scene.

Independent panel seeks public consultation on Australia's GI Code of Practice

April 18 2024

Panel inviting feedback from public and industry stakeholders on four key areas, including customer vulnerability.

munich-re-advocates-for-government-support-amid-escalating-cyber-risks

Munich Re advocates for government support amid growing cyber risks

April 11 2024

Global reinsurer expects insurance GWP to double by 2027, but warns more needs to be done for the potential of catastrophic, systemic events.

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