Australian insurers welcome A$10bn backing and draft rules on cyclone re pool
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Australian insurers welcome A$10bn backing and draft rules on cyclone re pool

Liz Bury
03 December 2021
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The Australian Reinsurance Pool Corporation (ARPC) and Insurance Council of Australia (ICA) have welcomed draft legislation and regulations with an A$10bn ($7bn) guarantee from the Australian government for the country’s cyclone reinsurance pool.

The guarantee takes effect from 1 July 2022 covering residential, strata and small business property policies, with small business marine property due to be added the following year.

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