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Regulatory & Government

Pressure builds on insurers to stop reimbursing ransomware payments

18 October 2021

Two major reports last week criticised the payment of ransoms to cyber criminals, putting pressure on the insurance industry for reimbursing clients under attack...

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BI uncertainties remain for 'way too long': ASIC

18 October 2021

Uncertainty around business interruption cover during the pandemic has persisted for too long and has stemmed from insurers’ inadequate systems and risk management processes, Australian Securities and Investments Commission Deputy Chairman Karen Chester said...

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Less volatility needed in premium cycle: APRA

18 October 2021

Insurers should seek to limit pricing cycle volatility and look beyond significant premium increases and withdrawal of cover in responding to market issues, Australian Prudential Regulation Authority Deputy Chairman Helen Rowell says...

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Treasury hammering out final cyclone pool details

18 October 2021

A consultation process is settling the final details for a cyclone reinsurance pool that is on track to take effect next July, Assistant Treasurer Michael Sukkar says...

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Victoria accepts 15 bushfire inquiry recommendations

18 October 2021

The Victorian government has accepted all 15 recommendations from the final phase of an independent inquiry into 2019/20 bushfires that devasted large parts of the state’s North East, Gippsland and Alpine regions...

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