Further talks planned over complaints body rules
18 September 2017
Insurers can provide further feedback on rules for the new Australian Financial Complaints Authority, which is due to start operating from next July…
Regulatory & Government
ICA at halfway mark on disclosure reform
18 September 2017
The Insurance Council of Australia is midway through a two-year program to improve consumer understanding of products, according to a submission to the Productivity Commission…
ASIC focuses on cyber resilience
18 September 2017
The Australian Securities and Investments Commission has published its market integrity report for the six months to June 30, highlighting a focus on cyber resilience, sell-side research and listing standards…
WA road injury scheme costs exceed forecast
18 September 2017
WA’s Catastrophic Injuries Support scheme has assessed 28 people as eligible for treatment and care in its first year, and their young ages compared with forecasts has led to an increase in expected average costs…
ARPC supports ‘crowded places’ anti-terror plan
18 September 2017
The Australian Reinsurance Pool Corporation backs the recently unveiled national security plan to protect crowded places from terror attacks similar to the Manchester Arena bombing in May…
icare hands out TMF awards
18 September 2017
NSW Department of Education, in partnership with Allianz, won the “people’s choice” award for the SeekSMART vocational counselling program in Insurance and Care NSW’s TMF Awards for Excellence…
Flammable cladding ban ‘not the answer’
11 September 2017
The Senate inquiry into non-compliant building products has proposed a “total ban” on flammable cladding, but insurers and experts fear deeper problems may be overlooked…
NSW builders’ warranty scheme names broker distributors
11 September 2017
Insurance and Care NSW has unveiled the chosen distributors for its Home Building Compensation Fund…
NZ insurers attack deal for uninsured quake victims
11 September 2017
A government settlement with a group of uninsured Christchurch property owners known as the Quake Outcasts may provide an incentive to shun cover, the Insurance Council of New Zealand warns…
ICA seeks help on NSW duty removal deadline
11 September 2017
Insurers have called for help from the NSW Government as they struggle to meet a January start date for removing stamp duty from crop and livestock policies and various small business covers…
Taskforce seeks feedback on ASIC banning power reform
11 September 2017
The Australian Securities and Investments Commission would have powers to ban a person from being a senior manager in a financial services business under proposals put forward for comment by a taskforce…
ASIC, APRA figures to speak at actuaries’ seminar
11 September 2017
Two regulators will speak at the Actuaries Institute’s Responding to Risk seminar this Wednesday…
ARPC payments to Canberra will top $1 billion by 2020
04 September 2017
The Australian Reinsurance Pool Corporation’s cumulative payments to the Government will reach $1.02 billion by the 2020 financial year, according to its latest corporate plan…
APRA to focus on fintech, cyber crime
04 September 2017
The Australian Prudential Regulation Authority’s new corporate plan highlights fintech and cyber crime as key challenges…
Most small licensees’ PI covers up to scratch: ASIC
04 September 2017
A targeted review of professional indemnity insurance held by 56 financial services licensees shows only three did not comply with defence cost regulatory requirements, according to the Australian Securities and Investments Commission…
ARPC puts cyber on table for coverage review
04 September 2017
The Australian Reinsurance Pool Corporation says next year’s triennial review of the organisation should consider extending coverage to include property damage from cyber attacks…
ASIC plan of action targets fraud practices
04 September 2017
Insurers’ handling of fraudulent claims will face scrutiny under the Australian Securities and Investments Commission’s focus on financial product and service provider practices…
NZ regulator to tackle oversight gaps
04 September 2017
New Zealand’s Financial Markets Authority will examine gaps in insurance sector oversight after issues were identified by an International Monetary Fund assessment…
ASIC seeks feedback on car dealer add-on reforms
28 August 2017
The Australian Securities and Investments Commission has released a consultation paper on its proposals to reform the way add-on insurance and warranties are sold via car dealerships…
Mitigation shortfall threatens premiums: NIBA
28 August 2017
Australians will struggle to afford property cover unless governments at all levels step up disaster mitigation efforts, the National Insurance Brokers Association says…