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The Latest Breaking News from Insurance Council of Australia

Extreme weather now costs Australians $4.5b a year. Better insurance options and loans would help us adapt

Today’s release of the Insurance Council of Australia’s report puts Australia on the spot: we rank second in the world in extreme weather-related losses. As the Insurance Council puts it, this is not the silver medal we want to win.

The Conversation

Car thieves leave huge bill for motorists and insurers

The number of cars stolen has doubled in one state over a ten-year period as thieves leave motorists and their insurers with a massive annual bill.

AAP

Climate risk main reason premiums are rising: insurers

Breaking up big companies is no silver bullet to keep insurance premiums affordable, the sector says.

AAP

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Insurance Council warns higher prices 'baked in'

The Insurance Council of Australia chief says households and businesses are feeling the squeeze, with more people forced to forego or reduce insurance coverage.

AAP

Emergency levy axing would save Hunter households 15 per cent on insurance

THE Insurance Council of Australia says Hunter households would save 15 per cent on their home insurance if the NSW government axed the Emergency Services Levy and found "a fairer way" to fund police, fire and related services.

Newcastle Herald

Insurance crisis deepens for homes, business and local councils in flood prone areas of northern NSW

Almost a year after the country's most costly natural disaster, the hardest-hit areas in northern New South Wales are grappling with a future where many homes, businesses and even local councils are uninsurable.

ABC News

Victorian caravan park owners struggle to secure affordable insurance

Caravan park owners are struggling to find affordable insurance cover as prices continue to rise, with the Insurance Council of Australia saying some insurers have pulled out of the market.

ABC News

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Insurance firms must lower premiums as government funds disaster prevention, minister says

Murray Watt says government is funding disaster mitigation infrastructure and ‘expects the insurance industry to fulfil its end of the bargain’

The Guardian - AU

Northern Rivers flood victims urged to think of safety when considering buyback offers

The Insurance Council of Australia wants flood-affected residents in the Northern Rivers region to choose safety over sentiment when considering whether to take up the governments' buyback scheme to sell up and move to higher ground.

ABC News

Where to start with a flood insurance claim and what to do if you're a renter

Confronting flood damage can be overwhelming to say the least. Here are some tips about where to start for residents returning to their homes.

ABC News

Gold Coast residents struggle to find insurance as broker warns of 'change in appetite' for flood risk

After seven years with the same insurer, Collette has been told her Gold Coast property is now "embargoed", leaving her without contents insurance as summer storm season looms.

ABC News

Hundreds of Tasmanians lodge claims with insurance companies after severe floods

Tasmanians have begun assessing the damage from last week's devastating floods as hundreds wait to hear back from their insurance companies.

ABC News

Rockhampton's flood prone Depot Hill is attracting homebuyers with affordable prices deemed worth the risk

A double storey home with beautiful river views, on a large block, for under $300,000. But there's a catch, it's in flood zone.

ABC News

Alarm bells of a 'climate sub-prime' facing finance, as insurance on home loans gets tricky

The insurance industry admits that some parts of the country will become increasingly difficult to insure as extreme weather takes hold. What does this mean for bank loans that are underwritten by them and prospective homebuyers taking them out?

ABC News

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ABC News

Senator David Pocock calls for change as more small business owners find they don't have proper home insurance

ACT independent senator David Pocock has taken up the cause of small and micro business owners who have found their pursuits can void their home and contents insurance.

ABC News

Dandenong Ranges residents navigate insurance, building hurdles in storm recovery

A year after a massive storm swept through parts of Victoria, destroying 76 houses and damaging nearly 100 more, locals say only a handful of homes have been rebuilt, and there are concerns the telecommunication network remains vulnerable to future disasters.

ABC News

Sydney news: COVID-19 close contact laws tipped to change in New South Wales

MORNING BRIEFING: The NSW government is set to announce its decision on changes to close contact rules this morning.

The Guardian - AU

Scott Morrison caves in to co-funding Queensland flood resilience package after fierce criticism

Backflip comes a day after PM rejected the request, prompting the Insurance Council of Australia to accuse the federal government of shirking responsibility

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The New Daily

How floods could dramatically affect your insurance cover

The worst on record floods in recent weeks have not only caused great damage to homes and livelihoods, they could dramatically affect insurance.

The Guardian - AU

Warning for flood-hit regions as wet weather and storms return to eastern Australia

Frontal system will move through Sydney, form a line of storms across the Hunter Valley and mid-north coast before moving north

The Guardian - AU

Australian insurers inundated with flood damage claims as Lismore rethinks risk management plan

Insurance Council of Australia says 15,000 claims already lodged and calls for governments to do more to protect communities

People

Annastacia Palaszczuk

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