The review of insurers' response to the 2022 floods, commissioned by ICA and conducted by Deloitte, has yielded a report with recommendations to improve disaster readiness and handling across seven key...
The NSW Minns Government has ceased further development in flood-prone areas of Sydney's north-west, a move seen as a strong measure to help protect families and businesses from future flood events.
ICA report says building codes which mandate new homes can withstand extreme weather could save the nation an estimated AU$4bn per year, drastically reduce the cost of climate change to homeowners.
Smith spoke at the Insurance Council of Australia's Annual 2023 Conference and emphasised importance of balance in the face of issues like cost-of-living pressures and natural catastrophes.
A surge in disaster-related claims alongside rising inflation across Australia has driven insurance premiums higher; the ICA is urging the government to implement measures to reduce risk and maintain affordability....
The ICA welcomed disaster funding in the New South Wales' 23-24 State Budget, but continues to call for insurance tax reform for the state that bears the highest insurance taxes in the country.
New data shows a repeat of historic weather events would break records and be far costlier; the Insurance Council of Australia is urging for more to be done.
The ICA said insurers are undertaking improvements to ensure profitable and sustainable products for Australians, despite challenges from Nat Cats and inflation.
