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.
Why 1 in 7 Australians travel overseas without insurance cover
Why 1 in 7 Australians travel overseas without insurance cover
More than a third said they had seen risky destinations promoted positively.
Australia posts $1.3b in insured losses from major disasters
The report also pushes for the proposed $19.8b Flood Defence Fund.
Insurance Council of Australia pushes for lower corporate tax rates
The council, instead, recommends creating a A$30.15b flood defence fund.
Insurance Council of Australia supports Treasury climate framework
It also called for guidance to cover both decarbonisation and adaptation.
ICA urges review of Tasmania’s plan for state-owned insurer
The ICA said the plan would shift disaster recovery costs.
ICA reports 95,000 claims from Cyclone Alfred damage
The cyclone and floods have exceeded A$1.2b in insurance losses.
ICA calls for reforms as motor insurance premiums hit A$1,052 in 2024
Car repair bills now making up 60% of claim costs.
Motor theft claims surge 96% to $270m in Australia over nine years
Theft claim frequency also rose sharply in Queensland and metro Victoria.
Australia records surge in claims, cyclone recovery drags
To expedite the claims process, insurers have deployed additional claims consultants.
Australia's insurers log 3,000 claims post-Cyclone Alfred
ICA CEO said to expect “many more thousands of claims.”
ICA proposes A$30.15b flood defence fund
Last year saw 41 million policies issued for households and businesses.
Australia sets up claim centre for customers affected by severe storms
The hub is located in Townsville and is open until 15 February.
Australian council supports new funding round for disaster mitigation
The fund provides $125.8m (A$200m) annually.
Nearly 9 in 10 Australian insurers commit to net-zero targets by 2050
Extreme weather events cost homeowners approximately $4b annually.
ICA to consult on motor vehicle insurance code update
The initial draft was supposed to be released within this year.
ICA proposes 17 steps to improve strata insurance outcomes
Key proposals include stricter education requirements for strata managers.
Ageing workforce fuels talent crisis in Australia’s insurance sector
About 58% of insurance professionals in the country are over 45.
Thought Leadership Centre
In Association with
Most Read
1. Remote job demand in Singapore insurance rises 15.3% 2. India insurance market sees moderating premium growth: Report 3. Tokio Marine Life, RHB launch guaranteed-acceptance plan for seniors 4. Manulife to sell MVI Life to Japan’s Asahi Life 5. Hong Kong reinsurers to absorb significant claims from Wang Fuk Court fireResource Center
Read Here
Advertise
Sign Up
Awards
Jul
07
Events
Event News
Showcase your achievements and gain recognition for shaping the future of insurance.
Commentary
AI isn’t replacing insurance, it’s finally making it work