A delegation of Australian insurance experts are touring the US this week, led by the Insurance Council and the American Chamber of Commerce in Australia.

ICA CEO Andrew Hall and senior executives from IAG, Youi, Suncorp, Auto & General, QBE, Allianz and Hollard make up the delegation, which also includes senior politicians.

The five-day tour will take in Washington DC and California, and aims to foster discussions on insurance market solutions to shared risks. Delegates will meet with government agencies and officials, insurers and regulators.

“The Australian and North American insurance markets are facing strikingly similar challenges around affordable and available home insurance. Rapidly growing populations, growing asset values, all in areas that are vulnerable to extreme weather, are testing the overall durability of the insurance market,” Mr Hall said.

“We must learn from each other what initiatives are working and what experiences we can share about future resilience measures that reduce the future risk.”

ICA says the fallout from frequent and intense extreme weather in the US mirrors the challenges Australia faces from cyclones, fires and flood, and sharing solutions to a widening protection gap and mitigation investment measures are on the agenda.

Included in the delegation are: 

• Allianz CTO James Fitzpatrick   
• Auto & General CEO Asia-Pacific Ram Kangatharan   
• Hollard Insurance Australia chief commercial officer Suzi Leung   
• IAG CEO NRMA Insurance Julie Batch   
• IAG EGM corporate affairs, climate and sustainability Kylie Smith   
• IAG executive people, performance and reputation Christine Stasi  
• QBE Asia-Pacific chief underwriting officer Andrew Ziolkowski   
• Suncorp EGM home prevention and protection portfolio Anna Cartwright   
• Youi CEO Nathaniel Simpson   
• ICA director, climate and social policy Alix Pearce
• Chamber of commerce head of special projects Josh Edwards