ICA

May 1 2025

Insurance Council of Australia adds that claims have nearly reached A$1bn (US$640m).

Insurer claim costs rise as Australia’s EV repair bottleneck hits premium prices: Report

April 17 2025

Some EV owners are paying insurance premiums up to five times more than the equivalent internal combustion engines.

ica-highlights-risks-to-lmi-providers-from-labors-proposed-home-guarantee-scheme

Labor's Home Guarantee Plan could threaten lenders' mortgage insurance market, ICA Warns

April 14 2025

The Insurance Council of Australia says proposed scheme could also put pressure on financial stability and housing affordability.

Insurance losses from ex-TC Alfred and North Queensland floods surpass A$1.2bn

April 2 2025

The ICA reports over 104k claims lodged from the two nat cats so far, with around 95k of those from Alfred.

insurers-on-alert-as-western-queensland-faces-catastrophic-flooding

Insurers ready to deploy resources as Western Queensland hit with worst flooding in 50 years

April 1 2025

More rainfall is forecast, and the ICA is working with government agencies to assess the impact and support recovery efforts.

committee-flags-shortcomings-in-australias-cyclone-reinsurance-pool-calls-for-structural-reforms

Joint Select Committee urges changes to Cyclone Reinsurance Pool

March 28 2025

Recommendations include extension of 48-hour rule, enhanced resilience measures, and potential inclusion of marine insurance.

insurance-claims-following-ex-tropical-cyclone-alfred-exceed-74k

Insurance claims from ex-tropical Cyclone Alfred rise to 74,000

March 20 2025

The number of claims has risen by over 10,000 since Monday.

motor-vehicle-theft-claims-surge-in-queensland-victoria

Insurance Council of Australia warns that motor thefts are putting upward pressure on premiums

March 20 2025

ICA warns rising vehicle values and repair costs are driving insurance premiums higher, with theft trends adding further pressure.

Australia’s General Insurance Code of Practice review panel urges stronger action from ICA

March 19 2025

Panel welcomes ICA's Action plan but says that more decisive action can be taken to improve consumer outcomes.

ica-releases-industry-action-plan-addressing-flood-inquiry-code-review

ICA releases insurance industry action plan addressing flood inquiry, code review

March 18 2025

Plan focuses on improving customer outcomes, supporting vulnerable policyholders, updating policies to prevent financial abuse, and enhancing claims handling.

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