General Insurance ‘Industry In Focus’ Report

8 December 2008

Today the Insurance Council of Australia released its first ‘Industry In Focus’, a review of publicly available data relating to the Australian general insurance market.

“The Industry In Focus will provide regular insight into the Australian general insurance industry,” said Ms Kerrie Kelly, Insurance Council CEO and Executive Director.

The November 2008 issue shows that weather related incidents accounted for 31.5% of all general insurance claims in 2007, as compared to 12.3% of all general insurance claims in 2000.

“Weather related claims costs are expected to become an increasing determinant of premium price levels,” said Ms Kelly. “This expectation reflects current trend data that shows weather related claims, as a proportion of total claims, have been increasing.”

The Industry In Focus is available here.

Please click here for a PDF copy of this media release.

Media enquiries: Sean Sampson 02 9253 5161 0421 482 884