Australia

APRA Chair highlights importance of insurance affordability and accessibility amid rising risks

February 15 2024

John Lonsdale was speaking to the Senate Economics Legislation Committee about APRA's interim supervision and policy priorities.

Tasmania maintains 'insurance tax' as Fire Services Levy reform put on ice

February 14 2024

Fire Services Levy reform hits standstill, leaving state as Australia's last to tax insurance for emergency services funding.

perils-pegs-initial-loss-of-australias-2023-christmas-storms-at-au1-4bn

PERILS pegs initial loss estimate of Australia's 2023 Christmas Storms at AU$1.4bn

February 14 2024

PERILS's first insurance loss estimate, for storms, that hit QLD, VIC, and NSW between 23 and 29 Dec, is AU$1.4bn (US$900m).

Pacific Prime expands to Australia

February 9 2024

Days after acquiring a Malaysian broker, Pacific Prime reaffirmed its commitment to APAC growth by announcing it had opened shop in Australia through key hire of Michael Atta.

CPS 230 means increasing focus on cyber risk for Australian insurers

February 8 2024

Insurers will need to focus on fourth and fifth party outsourcing as part of the new APRA standard.

Pacific property insurance rates stall after rising for 26 quarters

February 7 2024

Marsh says that there is now increased competition among insurers offering capacity in this market segment.

ICA CEO apologises for 2022 flood response shortcomings, promises improvement

February 5 2024

At Parliamentary inquiry, Hall said some claims 'were not handled to the standard our industry strives to achieve,' but added that industry leaders were committed to improvements.