This week's edition of the Insurance News Wrap discusses major updates from the Australian insurance industry. The Australian Prudential Regulation Authority (APRA) has recently introduced stringent measures, significantly impacting the sector and requiring more from insurance companies. Changes in leadership are highlighted with Peter Kelly taking over as CEO of CommInsure Life in January. Record figures in life insurance claim payouts showcase the heavy strain on the industry due to the pandemic. Defense alliances forecast a rise in cyber-attacks elevating the importance of cyber insurance. On a more positive note, the Australian Securities and Investments Commission (ASIC) is initiating climate impact assessments on insurance services, aiming to build a sustainable future for the industry. Additionally, Raumati Insurance is innovating with a tech-focused customer portal, aiming to transform policyholder interactions.n

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