This episode of the Weekly Insurance News Wrap presents important updates from the insurance industry. The Australian Government has released its first National Climate Risk Assessment, which highlights the increasing threats of natural disasters due to climate change. This report signals higher health and safety risks and the chance of increased insurance costs. Government strategies point towards building resilience via a $1 billion Disaster Ready Fund. Meanwhile, the Australian Securities and Investments Commission has taken steps to lighten the regulatory burden on general insurers, a move that could ultimately improve and expand their offerings. Lastly, due to an increase in digital threats and cyberattacks, organizations are being advised to prioritize cyber insurance, maintain regular policy reviews, enhance employee training, and ensure strong internal control policies.

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