Insurance Council of Australia
The Insurance Council of Australia (ICA) is the representative body of the general insurance industry in Australia. It is a group that represents 89% of total premium income written by private sector general insurers, spanning both insurers and reinsurers.
See below for the Latest Insurance Council of Australia News, Analysis, Profit Results, Share Price Information, and Commentary.
41% of Australian travellers opt out of purchasing travel insurance
27% of Australians think travel insurance is unnecessary.
41% of Australian travellers opt out of purchasing travel insurance
27% of Australians think travel insurance is unnecessary.
Claims soar to 19,932 after Victoria thunderstorm – ICA
About 85% of the claims are related to home and contents damage.
ICA backs standardised definitions for natural hazards in insurance policies
Standardised definitions entail all insurers use the same definition for a specific event in their policies.
ICA engages treasury on proposed financial advice reforms
A consultation roundtable was conducted last 19 February.
Over 18,000 new claims filed after recent Australian catastrophes
Insurers have already closed 28% of claims, paying out AU$171m
Australia’s MVRI Code of Conduct overhaul implements recommendations for better governance
The CAC is also enhancing the user experience on the code's website in response to industry feedback.
ICA urges e-motor users to have coverage
E-motors catching fire has been too frequent due to inadequate care by owners, says the ICA.
Insurers ready to tackle Cyclone Jasper – ICA
The community in the cyclone warning region is advised to monitor weather conditions and follow guidance from emergency services.
Australians urged to secure right insurance when renting out homes for summer – ICA
Holiday rental insurance is specifically tailored for properties rented out briefly.
ICA praises federal overhaul for personalised financial advice boost
The old regulatory framework entailed limited access to financial advice, especially for low- and middle-income Australians.
One in six Australians are not covered when travelling – ICA
The ICA CEO expressed that travel insurance is as important as passports.
$30m co-funding will meet tepid demand for financial counsellors – ICA
This should grant 9,000 more Australians access to financial counselling.
ICA commends New South Wales Gov’t for ESL reform
The abolition of the ESL on insurance is expected to result in a 15% lower average cost for home cover and around 23% lower for business cover.
2020 General Insurance Code of Practice to be reviewed – ICA
The first phase will address general topics not directly related to the 2022 floods.
ICA picks out seven catastrophe-related areas insurers need to improve on
Eight insurers’ action responses to the Cat 221 were analysed for the report.
ICA urges gov’t to reform insurance tax in future budgets, overall annual fund sufficient
New South Wales currently imposes the highest insurance taxes in Australia.
Incentivising underwriting and investment in nature’s resiliency could be beneficial – ICA
Insurers can draw concepts from the TNFD framework for better strategies.
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1. Financial firms lead LinkedIn’s top companies in Singapore 2. InterContinental Singapore is saving insurance for a rainy day 3. 25% of employers to enhance insurance coverage in the next two years 4. Insurers struggle to balance customer acquisition and retention: study 5. Allianz Partners collaborates with MoneyHero for travel insuranceResource Center
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1. Financial firms lead LinkedIn’s top companies in Singapore 2. InterContinental Singapore is saving insurance for a rainy day 3. 25% of employers to enhance insurance coverage in the next two years 4. Insurers struggle to balance customer acquisition and retention: study 5. Allianz Partners collaborates with MoneyHero for travel insuranceAwards
Jul
09
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