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Regulatory & Government

Standardised definitions ‘won’t solve everything’

18 March 2024

Standardised definitions of natural hazard terms could reduce confusion, but won’t solve all coverage and claims issues, Treasury has warned a Federal Government Inquiry into insurers’ responses to the 2022 floods...

New Zealand to consult insurers on climate adaptation

18 March 2024

New Zealand’s government is working on a Climate Adaptation Framework and plans to invite input from insurers and banks later this year, Small Business and Manufacturing Minister Andrew Bayly says...

AFCA to make rule changes from July  

18 March 2024

The Australian Financial Complaints Authority will implement updated rules and operational guidelines in July to give it more clarity and capacity to manage disputes...

Watchdog places order on steel maker’s self-insurance 

18 March 2024

The NSW State Insurance Regulatory Authority has imposed special licence conditions on steel manufacturer Liberty Holdings Australia’s workers’ compensation self-insurance licence, amid concerns about its practices...

Treasury flags revised standard cover regime

11 March 2024

Federal Treasury has proposed restricting the standard cover regime to home building insurance only and mandating that insurers offer a baseline level of policyholder protection...

ICA joins key levy reform advisory group

11 March 2024

Insurance Council of Australia CEO Andrew Hall has been selected to join a special advisory group helping the NSW Government shape critical Emergency Services Levy reforms...

Accountability regime rules finalised 

11 March 2024

The Federal Government has finalised rules for the Financial Accountability Regime, which starts on Friday for the banking sector and from March next year for insurance and superannuation...

Dutton fills frontbench finance position

11 March 2024

The Federal Coalition has appointed Luke Howarth as Shadow Assistant Treasurer and Shadow Minister for Financial Services, replacing Stuart Robert, who resigned last May...