A Little Bit about The Insurance Council of Australia

To better understand strata insurance issues, it’s important to know a little bit about the industry and sector groups that operate in and around the Australian insurance world.

One of the biggest and most influential industry groups is the Insurance Council of Australia that represents general insurers operating in Australia [including for the strata sector].

ICA’s members represent 85% of total Australian premiums [that’s a lot] covering insurance for buildings, contents, travel, motor vehicles, insurance, business, product liability, public liability insurance, professional indemnity, directors and officers, and more.

A quick look at their membership list reveals many groups familiar to strata stakeholders.

The ICA is a pretty powerful and influential group affecting strata insurance issues and outcomes.  So, we’ll be publishing more information about what they are [and aren’t] doing in relation to the 2024 Strata Insurance Crisis.

In the meantime you can find out more about @ICA here.