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Emerging risks | Growth Opportunities | APAC Insurance

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Monday, September 21, 2026

Australia

ica-australian-summer-extreme-weather-insurance-losses-hit-au1-2bn
Australian summer nat cat bill surpasses AU$1.6bn
April 10 2024
Cyclone Jasper, Valentine's Day storms, and Christmas Storms have seen a combined 130,000 claims.
2024 - NSW Severe April Storms
ICA Declares 'Significant Event' as NSW severe storms hit 11,500 claims
April 10 2024
11,527 claims to date, but still too early to estimate insurance losses, says Insurance Council of Australia.
insurtech-honey-insurance-secures-au108m-in-series-a-funding
Honey Insurance secures AU$108m in Series A funding
April 9 2024
Insurtech's AU$108m (US$71.3m) raise, led by Gallatin Point Capital, is Australia's third-largest Series A round for a tech company.
australia-life-insurance-breaches-rise-for-third-year-but-impact-significantly-fewer-customers
Australian life insurance code breaches rise for third year, but impact fewer customers
April 9 2024
The Life Insurance Code Compliance Committee reports 9% rise in breaches in 2022-23, but 47% reduction in number of customers impacted.
2024 - NSW Severe April Storms
Sydney hit with severe flooding as torrential rains prompt evacuations and rescues
April 7 2024
Torrential downpours in NSW lead to overflowing dams, hundreds evacuated, and government announcement of a disaster recovery package.
australian-government-to-correct-legislation-that-eliminates-broker-commissions-report
Australian government to correct legislation that eliminates broker commissions - report
April 6 2024
Financial Services Minister pledges swift action on recently proposed legislation, which would have inadvertently made commission payments illegal.
iag-pays-au37m-in-worker-back-pay-due-to-inadequate-systems
IAG pays AU$37m in worker back-pay due to inadequate systems
April 5 2024
Insurer self-reported non-compliance and pays over AU$21m (US$13.83m) for federal wages and entitlements, while settling AU$16.2m for state and territory long service leave entitlements.
2024 - NSW Severe April Storms
Insurers on alert as Eastern Australia braces for 'black nor'easter' weather event
April 4 2024
Severe weather forecast, including 'black nor'easter' phenomenon, with some insurers taking proactive steps in preparation of torrential rain and flooding.
australian-local-government-association-calls-to-more-than-double-disaster-ready-fund
Australian Local Government Association calls for significant increase in Disaster Ready Fund
April 4 2024
ALGA suggests increasing annual DRF allocation to AU$450m (US$297m), echoing calls from the industry for more long term solutions to insurance affordability.
perils-second-industry-loss-estimate-for-australias-christmas-storms-rises-to-aud1-547bn
PERILS second industry loss estimate for Australia's Christmas Storms rises to AUD1.547bn
April 3 2024
AU$1.547bn (US$1bn) figure is an increase from PERILS's initial AU$1.395bn loss estimate, reported on Feb 14.
mlc-life-appoints-nippon-lifes-koji-ichiba-as-board-director
MLC Life appoints Koji Ichiba as Board Director
April 3 2024
Ichiba joins from parent company Nippon Life and will replace Tomonao Gotoda, who returns to Tokyo in a senior role within the group.
markel-expands-into-australian-professional-indemnity-insurance-market
Markel launches professional indemnity insurance products in Australia
April 2 2024
Markel introduces PI products in Australia, targeting sectors including renewable energy and construction.
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