State insurer takes over home construction claims from GB
17 February 2025
NSW state insurer icare is bringing builders’ warranty claims handling in-house in a bid to create a “more efficient, personalised, and streamlined” service...
Regulatory & Government
SIRA puts ‘customers at centre’ of three-year plan
17 February 2025
NSW’s State Insurance Regulatory Authority has outlined its aims for the next three years...
Queensland to step up dangerous battery collections
17 February 2025
The Queensland government has launched a $2 million program to increase battery collection points and address growing fire risks...
SIRA cracks down on builders amid coverage probe
17 February 2025
The NSW insurance regulator has issued a penalty notice and 43 cautions over compulsory home building cover breaches...
Cyclone pool extension ‘would go beyond overseas model’
10 February 2025
An extension of the cyclone reinsurance pool cut-off to seven days after an event is downgraded could create a longer period of cover than is typical in international markets, federal MPs have heard...
Jones says advice reforms a priority as election looms
10 February 2025
Assistant Treasurer Stephen Jones has reiterated the Albanese government’s commitment to advancing the next stage of financial advice reforms, which include allowing insurers to provide simple guidance...
Commission calls for feedback on insurers’ motor club moves
10 February 2025
IAG and Allianz’s plans to take over motor club insurance operations are under scrutiny by the competition watchdog, which is canvassing the market about the potential impacts on pricing and smash repair services...
WA builder fined over insurance breach
10 February 2025
A Perth builder that started work on a house without acquiring mandatory home indemnity insurance has been fined $3500 and ordered to pay $736 in costs....
Workers’ comp self-insurer rapped over compliance issues
10 February 2025
NSW’s State Insurance Regulatory Authority has placed special conditions on a property business’ workers’ compensation self-insurer licence after an audit found compliance and claims management issues...
Industry lauds outgoing minister Jones
03 February 2025
The insurance industry has hailed Assistant Treasurer and Financial Services Minister Stephen Jones, who announced last week he will not stand for re-election...
New icare chief ‘perfectly placed’ to continue reform
03 February 2025
icare says its new CEO will boost the NSW state insurer “as it continues to implement change that leads to better community outcomes”...
NZ industry welcomes national climate adaptation plan
03 February 2025
The Insurance Council of New Zealand has praised the government’s commitment to proposing a new climate adaptation framework this year...
Compo scheme under review, funding shortfall projected
03 February 2025
A Treasury review of the industry-funded Compensation Scheme of Last Resort has started, less than 12 months after the redress program launched last April...
NZ confirms emergency levy regulation
03 February 2025
The New Zealand government has finalised regulations for insurance levy funding of fire and emergency services from July next year...
Watchdog eyes stock trades by two Steadfast staff
16 December 2024
The Australian Securities and Investments Commission has sought information from Steadfast in connection with trading in the company’s shares by two employees...
ASIC cuts cost-recovery levies after running numbers
16 December 2024
The Australian Securities and Investments Commission says regulatory costs to be recovered through funding levies for last financial year will be less than previously estimated...
NZ injury scheme reviewed after ‘decade of decline’
16 December 2024
The New Zealand government has ordered an independent review of the Accident Compensation Corporation amid concerns about declining rehabilitation rates and increasing costs, and says levies will rise over the next three years...
Jasper recovery efforts gain $200 million injection
16 December 2024
The federal and Queensland governments will provide more than $206 million to help communities hit by Ex-Cyclone Jasper last summer, in a package that includes funds to boost resilience...
ASIC finds flaws in complaints management culture
09 December 2024
The Australian Securities and Investments Commission says an improvement in complaints handling culture is needed to address insurer failings in responding to dissatisfied customers...
Industry weighs ‘implications’ of advice shake-up
09 December 2024
The federal government’s latest advice reforms, including a plan to let insurers give “simple” guidance, should lead to better consumer outcomes, according to the Insurance Council of Australia...