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Regulatory & Government

Canberra provides detail on affordability taskforce

03 June 2024

The Albanese government says its Insurance Affordability and Natural Hazards Risk Reduction Taskforce will ensure a “cross-government approach” to risk reduction and “other near-term solutions”...

Industry’s APRA levy to top $32 million

03 June 2024

Treasury calculates the general insurance industry will pay about $32.7 million in levies to fund the Australian Prudential Regulation Authority’s operational costs in the coming financial year, rising from $29.5 million in 2023-24...

ICNZ hails budget’s resilience spending 

03 June 2024

The Insurance Council of New Zealand has welcomed the budget’s resilience funding for communities hit by the Auckland flooding and Cyclone Gabrielle, while urging a continued focus on reducing risks...

AI threatens public utility of cover, MP warns 

27 May 2024

Artificial intelligence’s ability to “drill down” to an individual customer’s risk profile and set one-on-one insurance premiums “undermines the whole market model”, Greens MP David Shoebridge says...

Industry braces for another inquiry

20 May 2024

Senators have launched an inquiry into insurance challenges, specifically around the impact of climate risk on premiums and coverage...

Queensland marks milestone in buyback scheme 

20 May 2024

Demolition has begun on the first community title scheme purchased under voluntary property buybacks offered by the Queensland and federal governments’ Resilient Homes Fund...