Kimberley Insurance Review

Accelerating insurance premium growth, coupled with a decline in the number of insurers in the region, indicate that the insurance market in the Kimberley has further deteriorated since the 2020 Northern Australia Insurance Inquiry and subsequent implementation the Cyclone Reinsurance Pool.

RDA Kimberley has partnered with economics consultancy, Econisis, to better understand the drivers of the general insurance market in Western Australia’s Kimberley region. This Review focuses on:

• Understanding the impact of global and national insurance market trends.
• Understanding the drivers and performance of the Kimberley insurance market.
• Assessing the impacts of the insurance market on the Kimberley economy and community.
• Identifying lessons learnt from government interventions.

Online surveys, stakeholder interviews, insurance quote comparisons, and a cost benefit analysis have been undertaken to inform this review.

RDA Kimberley gratefully acknowledges the financial contribution from the Kimberley Development Commission and also extends thanks to the individuals, businesses, organisations, and government agencies who participated in the online surveys and stakeholder interviews.