ICA

NSW's severe April storms cause AU$176m in insured damages

May 17 2024

95% of AU$176m (US$117m) in damages related to property, with insurers having paid out AU$10m so far, the ICA reports.

NSW takes step toward lower property insurance premiums with introduction of Insurance Monitor Bill

May 10 2024

Bill looks to reduce premiums by replacing emergency services levy, with an independent body also appointed to ensure savings are passed on to insureds.

insurance-council-of-australia-reports-progress-on-motor-vehicle-code-improvements

Insurance Council of Australia reports progress on motor vehicle code of conduct improvements

April 24 2024

Code Administration Committee for the Motor Vehicle Insurance and Repair Industry targets mid-2024 for a revised Code draft.

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.

Australian Government to introduce financial sector regulatory initiatives grid

March 11 2024

New regulatory initiative aims to streamline financial sector, including insurance, enhance business operations and reduce compliance costs.

insurance-council-of-australia-labels-victorias-valentines-day-storms-a-significant-event

Insurance claims from Victoria's Valentine's Day storms top AU$100m

March 8 2024

Victoria's 14 Feb severe storms trigger nearly 20,000 claims worth AU$104m (US$69m), says ICA.

Australian Treasury looks to standardise natural hazard insurance definitions

March 7 2024

New consultation aims to standardise natural hazards to enhance transparency and consumer understanding.

ICA: Australian summer extreme weather insurance losses hit AU$1.2bn

March 4 2024

100,000 claims from Christmas and New Year Storms and Cyclone Jasper push summer nat cat tally to AU$1.2bn (US$782bn).

ICA backs Australian plan to bring in climate disclosure standards by 2027

February 22 2024

Australian emissions disclosure plans would see standards implemented ahead of other Asia Pacific developed economies such as Hong Kong and Singapore.

Insurance Council of Australia labels Victoria's Valentine's Day storms a 'Significant Event'

February 16 2024

Storms left half a million without power and have led to nearly 10,000 claims so far.

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