Sun, 14th Jun 2026

In this week's Insurance News Wrap, we discuss the Australian Government's new $27 million Drought Resilience Fund aimed at mitigating future drought impacts and enhancing regional community support. This encompassed cultivation of drought-resistant crops, water-secure infrastructures, and mental health services. Elsewhere, Insurance Australia Group (IAG) announced the successful integration of RACQ Insurance into its reinsurance program and settled a significant $4 billion lawsuit with Greensill Bank. The merger has increased IAG's ceded proportion, and the lawsuit settlement spares more extensive complications. Lastly, a case involving the Australian Financial Complaints Authority underlined the importance of understanding life insurance policies and premium structures, and also resulted in a compensation fee of $750 due to administrative errors. The need for comprehensive financial planning is emphasized, alongside engaging with reliable insurers to guard against unpredictable issues.n