The Insurance Council of Australia’s (ICA) Business Advisory Council has held its first meeting as it prepares to develop proposals to address affordability and availability issues in commercial cover.

The council, which includes representatives from business and the insurance industry, has been formed in response to recommendations from a strategic review undertaken for the ICA by industry expert John Trowbridge.

“We hope this council can provide an effective mechanism to have constructive engagement between insurers, brokers, underwriters and advocates for small and medium-sized businesses,” ICA CEO Andrew Hall said.

The council, chaired by outgoing National Insurance Brokers Association (NIBA) CEO Dallas Booth, will provide recommendations as they are developed directly to the ICA board.

Last Tuesday’s meeting was attended by representatives of ICA, NIBA, the Council of Small Business Organisations Australia, the Australian Chamber of Commerce and Industry, the Australian Small Business and Family Enterprise Ombudsman, the Office of the NSW Small Business Commissioner, Consult Australia and the Underwriting Agencies Council.