The Australian Reinsurance Pool Corporation has set out its strategic priorities to 2029, saying it will continue working with insurers and government to make cover more affordable and communities more resilient.

It will develop risk mitigation discounts for SMEs and “better reflect flood mitigation and other community-level mitigation in its pricing”.

The corporation will also promote available discounts through its website, publications and forums as part of education and awareness efforts.  

Its focus for the next four years is on delivering efficient, effective and sustainable reinsurance; driving performance improvements; and sharing data, analytics and insights.

“Over the next four years, our focus will remain on administering the terrorism and cyclone pools effectively, leveraging our data and insights, and supporting risk mitigation initiatives that strengthen community resilience to disasters while putting downward pressure on premiums,” CEO Christopher Wallace said.

The ARPC says it will support risk mitigation initiatives by other government agencies, industry and community to “reduce claims costs and impact on the community over the long term”.

The corporation administers the terrorism and cyclone reinsurance pools, which are each supported by a $10 billion annual Commonwealth guarantee.

See the corporate plan here.