Insurance Council of Australia
The insurance industry faces numerous complex issues. Take a deep dive on some of the topics and issues we’re working on.
ISSUES IN FOCUS
We’re committed to addressing insurance affordability and availability. Insurance plays an essential role in the economy, and affordable insurance is central to resilient communities.
Read more about the industry’s current efforts to seek clarity on the application of business interruption insurance to claims related to COVID-19.
We’re working with industry and government to improve the durability of homes in the event of a natural disaster and to enable a sustainable built environment.
Climate change and increased extreme weather events will lead to increased damage to our infrastructure, property and assets, which means more frequent insurance claims.
95% of Australia’s emergency management budget is spent on relief and recovery from extreme weather events. The damage and loss could be avoided or minimised if more funds were allocated mitigation.
Insurers are committed to improving customer outcomes by addressing the complex social issues faced by customers experiencing vulnerability and financial hardship.
Insurers recognise the necessity to understand the views and needs of Australia’s First Nations peoples. That’s why we’re establishing an Indigenous Advisory Committee.
The Insurance Council fully supports the intention of the Hayne recommendations and recognises the importance of the legislations to implement those recommendations.