The space agency's review found that domestic insurers currently lack sufficient capacity to underwrite large and complex space risks, leading to heavy dependence on international reinsurance markets.
Persistent underwriting losses and high distribution costs weigh on India’s general insurers, with direct models and customer ownership seen as key to improving economics.
The reinsurer said the virus lacks the aggregation and systemic exposure characteristics associated with COVID-19 and other widespread respiratory outbreaks.
The Australian regulator highlights emerging conduct, accountability and governance challenges as insurers expand AI use and distribution through digital platforms.
