Cyclone pool ends year with a A$1.21bn operating deficit, but Australian Reinsurance Pool Corporation said it remains cash-flow positive and able to meet all expected claims.
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.
Having low coverage in the Southeast Asian region presents a major opportunity for policymakers and insurers to strengthen economic security, the study finds
