Victorian Managed Insurance Authority said it will raise premiums due to record claims, driven by builder insolvencies, high inflation, and skilled worker shortages.
CreditSights report reveals mixed premium results, including some declines, but Japan's life industry sees profits rebound thanks to lower COVID-19 claims and better investment conditions.
The parametric product, underwritten by Swiss Re and provided locally by ICICI Lombard, was triggered by 40°C heatwaves in May, paying out to 46,242 low-income women in India.
