Australia

Australians' out-of-pocket medical expenses rise to $1b in 2024

Private health insurance benefits in Australia have hit a record low since 2008.
1 day ago

Australia's insurers log 3,000 claims post-Cyclone Alfred

ICA CEO said to expect “many more thousands of claims.”
3 days ago

ICA proposes A$30.15b flood defence fund

Last year saw 41 million policies issued for households and businesses.

Australia's insurance sectors report revenue growth in Q3 2024

Both the life and general insurance market’s earnings climbed QoQ.

CFC expands in Australia, rebrands Solution Underwriting

It plans to further extend into management liability, technology, media, and IP.

16% plan insurance exit as Australian premiums spike

But 41% of Australians will keep their current provider.

Australia opens consultation for annuity products capital settings

The key proposal will modify the calculation of the ‘illiquidity premium’.

This week in insurance: Australia's insurance sector faces cost pressures

6 in 10 Australians said they are willing to spend more on protection against disasters. 

ASFA sees double-digit returns in 2024 for superannuation funds

They also cautioned against increased regulatory burdens.

6 in 10 Australians willing to spend more on protection against disasters

RAA CEO warned extreme events are driving up insurance costs. 

APRA withdraws cloud outsourcing paper

It will be replaced with a new standard which introduces formal supervisory oversight.

QBE Insurance slated for earnings improvement – S&P Global Ratings

The insurer outperformed catastrophe loss projections.

Premium spikes threaten home insurance affordability in Australia

Mainly due to rising claims and increasing costs for insurers.

29% of micro-SMEs can't handle $10k setback despite coverage

59% of micro-SMEs have not updated their insurance since starting their business.