The Australian insurance industry and country's financial regulators have initiated discussions to identify ways to drive regulatory efficiency and productivity across the general insurance sector in line with the federal government's productivity agenda.
The discussions were held at a roundtable held in Sydney in October 2025 bringing together leaders in insurance industry and senior representatives from the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investment Commission (ASIC). The roundtable was hosted by the Insurance Council of Australia (ICA).
A media release issued by ICA said, “The roundtable provided a valuable opportunity for open dialogue on the impact of regulation on the affordability and availability of insurance, and broader trends impacting claims costs.”
The release said the Insurance Council and its members are looking forward to continuing to work with regulators as the Council of Financial Regulators undertakes a regulatory deep dive of financial services.
ICA CEO Andrew Hall said, “The roundtable was a timely and important conversation with senior executives from regulators APRA, ASIC and leaders across the industry.
“Discussions like this are critical in ensuring that we can continue to drive our industry forward.” He said, “We, in the industry look forward to this ongoing regulatory engagement.”