AUSTRALIA'S ARPC OFFERING SUPPORT SERVICES TO NIAC

The Australian Reinsurance Pool Corporation (ARPC) is to provide secretariat support services to the National Insurance Affordability Council (NIAC), reports insurance.com.au. The NIAC will invest some AUD50m ($45m) a year in "targeted flood and other natural disaster mitigation measures", according to former financial services minister Bill Shorten. David Matcham, chief executive of ARPC, said that "the council will make recommendations to the Minister for Financial Services, principally in the area of funding flood mitigation infrastructure, although it may also consider other issues of insurance affordability”.