Analysis, Construction & Engineering, Data insight, Government/NGO funding, Motor, Nat Cat, Non-life, Property

Insurance Council of Australia calls for government action on Nat cat risk

A surge in disaster-related claims alongside rising inflation across Australia has driven insurance premiums higher; the ICA is urging the government to implement measures to reduce risk and maintain affordability.

Aaron Woolner

September 21, 2023

•

6 min read

Banner for 22nd SIRC: 'Capacity to Capability'—Building resilience through innovation; futuristic city skyline with a glowing highway; Nov 1–5, 2026 at Sands Expo & Convention Centre.

Unlock this insight for free

14 days of access to (Re)in Asia’s premium intelligence
Free daily briefing in your inbox each morning
No credit card required

Already have an account? Sign in →

Market conditions continue to evolve as businesses review their priorities and plans for growth. The pace of change varies across the region, with local factors shaping how organisations respond.

Attention is turning to the balance between near-term opportunities and longer-term objectives. Decisions made today will help determine how businesses adapt as conditions develop.

While the outlook remains varied, the broader direction reflects a market adjusting to new demands. The implications will become clearer over time as plans move into practice.