Wed, 18th Mar 2026

This episode of Australia's Daily Financial Services News Wrap discusses key updates in insurance and finance. CHU's 2025 State of the Strata Market report acknowledges a 2.8% rise in strata insurance premiums despite mounting climate challenges, reflecting the industry's resilience and proactive approach to hazards like lithium-ion battery fires. The Insurance Council of Australia (ICA) calls for legislative changes to lower costs, improve risk management, and handle a $1.3 billion annual price tag from building defects for Victoria's strata residents. ICA CEO, Nick Hawkins, also anticipates further insurance premium hikes due to rising reinsurance costs. Additionally, the ICA aims to reform civil liability laws in response to a 60% increase in public liability insurance premiums, focusing on psychological injury claims, outdated laws, and worker-to-worker claims. Stay tuned for more updates.n