After the floods – meeting the benchmark
A review of how the insurance industry is implementing the recommendations from the 2023 review into the industry’s response to CAT221
In October 2023, Deloitte published a report titled The new benchmark for catastrophe preparedness in Australia (CAT221 Report), which reviewed the general insurance industry’s response to the floods across South East Queensland and New South Wales in early 2022. The CAT221 report was commissioned by the ICA and outlined Deloitte’s findings and recommendations for the general insurance industry to improve its response to future catastrophes.
In July 2024, the ICA engaged Deloitte to complete a follow-up review of the industry’s progress in implementing the seven recommendations from the CAT221 Report (the Industry Progress Review).
The Industry Progress Review focused on the progress the industry has made in implementing the recommendations from the CAT221 Report. At a high level, these recommendations relate to:
- Catastrophe preparedness
- Customer experience
- Resourcing capability
- Operational response
- Governance and transparency
- Coordination with government
- Code review in the context of catastrophes
This report presents the findings of the Industry Progress Review.
