Australia
Australia's insurance market bolstered by strong regulation
Australia's insurance market bolstered by strong regulation
Fitch finds Australia’s insurance market technically sophisticated.
Australia’s mortgage insurance sector developed, transparent: Fitch Ratings
Sector faces growing challenges due to the gov’t’s first-home buyer deposit scheme.
QBE sharpens focus on claims support in Australia
Key initiatives include addressing delays, communication, and risk management.
1 in 5 Australians switch home insurance to save costs
Alarmingly, 3% downgraded or dropped their policy completely.
Steadfast Group bags 17th spot in AM Best’s list
The broker was first of three newcomers in the ranking.
Australia outlines financial advice and insurance cost recover
Investigated unlicensed activity costs are fairly recovered from relevant sub-sectors.
ICA urges Aussies to pack travel insurance amidst rising alcohol incidents
About 87% of Australians took out travel insurance on their last trip in the past year.
Australians to gain more life insurance advice options
Over a quarter of Australians thought about getting advice, but have not acted upon it.
Suncorp confirms FY 2025 reinsurance programme placement
The cost of the FY 2025 programme is expected to be similar to FY 2024.
WTW taps James Baum for dual leadership role
He has over 30 years of experience in the industry.
Suncorp pivots to insurance industry after approval of bank sale
Post-acquisition, Suncorp aims to prioritise insurance needs.
IAG caps natural perils costs at $1.3b
It also said it is on track to report FY24 profit and margin at the upper end of the guidance ranges.
2.6 million Australians don’t have health insurance
Meanwhile, general insurance gained more traction due to increased awareness.
ICA gives two thumbs up to new building code decision
Enhancing home resilience against weather could save an estimated $4b yearly.
Australian Reinsurance Pool reviews cyclone pool rates for 2025
The 2024 premium rate review aims to ensure that rates align with the objectives.
ICA welcomes NSW budget, aims for insurance affordability
NatCat events in the past two years caused $2.64b (AU$4b).
ICA proposes updates to insurance code
The code was first introduced in 1994.
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Speakers from Kasikornbank, KPMG Thailand, Systemweb Technology, and Simon-Kucher will share their insights on the industry’s latest trends and challenges.
Commentary
For Asia’s insurers, boldness is the key to an AI-driven transformation
India’s cyber risk paradox: High attack rates, low insurance preparedness