Reinsurance News
Insurance Council of Australia
ICA declares Significant Events for NT and Queensland floods
12th March 2026
The Insurance Council of Australia (ICA) has declared two Significant Events for communities affected by recent severe rainfall and flooding in the Northern Territory and Queensland. The Northern Territory flooding includes Katherine and surrounding regions, while the Queensland event includes the Bundaberg region and Burnett River catchment. Insurers have started receiving claims ... Read the full article
Insured losses from Victorian Bushfires cross AU$200m from 3,123 claims: ICA
28th January 2026
After the recent escalation from a significant event declaration to an Insurance Catastrophe, the Insurance Council of Australia (ICA) has confirmed that insured losses from the devastating Victorian bushfires have crossed AU$200 million across 3,123 claims. This claims count includes property, motor, commercial, and business interruption claims, with 30% of ... Read the full article
Extreme weather in Australia costs insurers $3.5bn in 2025: ICA
23rd January 2026
According to new data from the Insurance Council of Australia (ICA), extreme weather events have resulted in almost $3.5 billion in insured losses from 264,000 claims in 2025. Of these losses, the costliest was Ex-Tropical Cyclone Alfred, which accounted for 132,000 claims and more than $1.5 billion in insured losses. Severe hailstorms ... Read the full article
ICA escalates Victoria bushfires to Insurance Catastrophe as claims mount
16th January 2026
The Insurance Council of Australia (ICA) has escalated its significant event declaration to an Insurance Catastrophe for the dozens of bushfires impacting Victoria since 7 January, which have collectively burned about 985,000 acres. According to Aon's weekly catastrophe report, the fires have damaged or destroyed roughly 260 houses and 900 structures, ... Read the full article
Insurers receive 1,386 claims from Victoria bushfires, 30% as total losses: ICA
13th January 2026
Insurers have received 1,386 claims resulting from the severe bushfires impacting Victoria since 7th January 2026, with 30% of all current property claims being total losses, according to the Insurance Council of Australia (ICA). On 12th January, the ICA declared the bushfires a Significant Event, with the fires having burned ... Read the full article
ICA declares Significant Event for deadly Victoria bushfires
12th January 2026
The Insurance Council of Australia (ICA) has declared a Significant Event for the severe bushfires impacting Victoria since 7 January 2026, as state fire authorities continue to battle uncontrolled blazes and total structural losses climb past 350. The ICA said its preliminary catastrophe response has now been activated, enabling the council ... Read the full article
PERILS puts Queensland & New South Wales November SCS industry loss at AUD2.663bn
8th January 2026
The Queensland and New South Wales severe convective storm (SCS) outbreak between 21st and 27th November 2025 is estimated to have caused an insurance industry loss of AUD 2.663 billion, according to PERILS, the Zurich-based catastrophe insurance data provider. PERILS' initial industry loss estimate is based on data collected from affected ... Read the full article
Insurers to access Terrorism Reinsurance Pool as Bondi Beach attack declared a terrorism incident
16th December 2025
The Bondi Beach attack on December 14th has been declared a terrorism incident for insurance purposes under the Terrorism and Cyclone Insurance Act 2003 (TCI Act), activating the Terrorism Reinsurance Pool (TRP) as the Insurance Council of Australia (ICA) declares the attack a significant event. The declaration made by the Treasurer ... Read the full article
ICA expands cat declaration for severe storm and hail events in Qld & NSW
28th November 2025
The Insurance Council of Australia (ICA) has expanded the catastrophe declaration for the severe storm and hail events that struck Queensland and New South Wales over the past week, extending it to all postcodes in both states for the period 20–27 November 2025. According to the ICA, the expanded declaration reflects ... Read the full article
ICA declares Queensland hailstorms an Insurance Catastrophe as claims surge
25th November 2025
The Insurance Council of Australia (ICA) has declared an Insurance Catastrophe for the strong winds and damaging hail that impacted South East Queensland between Sunday, 23 November and Monday, 24 November, noting that insurers have already received more than 16,000 claims across more than 140 postcodes for the event, which ... Read the full article
ICA urges stronger national resilience to secure the future of the Cyclone Reinsurance Pool
13th November 2025
The Insurance Council of Australia (ICA), the representative body for the general insurance industry, has called for greater national investment in disaster resilience and risk reduction to ensure the long-term success of the Cyclone Reinsurance Pool (CRP) and deliver sustained insurance affordability for households and businesses across Northern Australia. In its ... Read the full article
ICA extends SE 254 declaration to Severe Spring Storms as claims reach 26k
5th November 2025
The Insurance Council of Australia (ICA) has expanded the timeframe and postcodes of its most recent Significant Event declaration, to include the hail and strong winds that impacted south-east Queensland between 31st October, Friday and 2nd November, Sunday. So far, it has resulted in 25,980 claims with damage varying in severity, ... Read the full article
Brisbane hailstorm declared a Significant Event by ICA as claims mount
29th October 2025
The Insurance Council of Australia (ICA) has declared the hailstorm that impacted the wider Brisbane region on Sunday, 26th October 2025, a Significant Event, with insurers having received 11,000 claims to date. The storm brought intense rainfall, hail, and strong winds across parts of the Brisbane and Ipswich regions, resulting in ... Read the full article
Australia sees 25% decrease in nat cat insured losses in 2024-25: ICA
7th October 2025
Over the 12 months to 30 June 2025, Australia saw a 25% decrease in total insurance losses from natural catastrophe events, falling from $2.61 billion in 2023–24 to $1.97 billion in 2024–25, according to the Insurance Council of Australia (ICA). Data from the ICA’s latest report shows a notable reduction in ... Read the full article
Extreme weather losses in Australia exceed AUD 1.8bn in H1’25: ICA
2nd July 2025
According to new data released by the Insurance Council of Australia (ICA), the total insured cost of extreme weather events in the first half of 2025 has now surpassed AUD 1.8 billion from 148,437 claims. A breakdown of these claims shows that the most recent event, the Mid-North Coast and Hunter ... Read the full article
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