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.
Australians urged to secure right insurance when renting out homes for summer – ICA
Holiday rental insurance is specifically tailored for properties rented out briefly.
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.
Australia’s historic natural disasters would lead to bigger financial costs today – ICA
The council urges for better investment in resilience and mitigation measures.
Australian insurers’ ‘cyclical’ profits often affected by uncontrollable entities – ICA
Rise in inflation and reinsurance costs are driving up expenses for insurers into 2023.
Insurers, groups ally for planning reform – ICA
A roundtable discussion called on state and territory governments to reconsider planning rules.
Australia's insurance council hails A$400m in extreme weather protection
From 2019 to 2020 alone, bushfires caused AU$13b in damage.
Significant portion of Aussie millennials plan to travel without insurance: ICA
Almost eight in 10 Australians under 30 are planning to travel more often.
Ongoing flooding won’t make Australian insurers tap reinsurance: S&P
The analyst also said insurer earnings will only erode slightly.
Australian High Court rejects special leave applications
The decision was announced on 14 October.
ICA Board names new non-executive director
She currently heads Swiss Re’s Australia and New Zealand division.
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Humans need to be in insurance’s genAI loop
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Insurance
Employees still need to interpret AI-generated data and make decisions to minimise risks.
Employees still need to interpret AI-generated data and make decisions to minimise risks.
