Wed, 10th Dec 2025

In this week's Insurance News Wrap, Paige Estritori discusses the updates to the Cyclone Reinsurance Pool effective April 1st, that will allow strata property owners in North and Central Queensland to reduce insurance premiums by adopting cyclone mitigation activities. Federal and state governments are offering the Strata Resilience Program, providing grants to cover up to 75% of cyclone mitigation costs. With 15% of Australians living in strata properties, the importance of maintaining older structures becomes imperative. The 2025 State of the Strata Market report from CHU indicates a 2.8% premium rise, a contrast to a 14% surge in house insurance, with a focus on affordability, climate resilience and compliance. Despite recent catastrophes, premiums have remained stable, thanks to adequate pricing, promising significant future reforms and higher living standards for Australia's strata landscape.