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Australian Insurance Market Updates

Change is the only constant

February 22, 2024

A long-term strategy to managing and mitigating risk is the way forward for Australian businesses.
Captive and insurance management solutions|Casualty|Risk and Analytics|Cyber Risk Management|Financial, Executive and Professional Risks (FINEX)|Property Risk and Insurance Solutions

Current economic conditions, coupled with the emerging risks being faced in today’s business environment, are requiring Australian organisations to give far greater consideration to their risk and insurance arrangements.

Recently, Australia has attracted the interest of international insurance markets. Our sophisticated market is once again highly attractive to global insurers from the Lloyd’s marketplace, who see the commercial benefit of opening operations in our region. This shift will drive competitive opportunities and benefits for local organisations.

Key to taking advantage of new capacity and capital is understanding the market conditions and knowing what you can do well in advance of your organisation’s next renewal, to ensure successful placements.

In our market updates, WTW’s specialist teams share insights into what is driving conditions across all major insurance classes. Our risk advisors offer valuable insights into how and why advance preparation and quality data is key when it comes to preparing to ‘sell’ your organisation’s story and risk management credentials, differentiating your risk from your peers.

The WTW team has experts in each specialty area, helping clients take a holistic view of risk and guiding them on the approach that results in the best price, terms and conditions.

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