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Regulatory & Government

Mortgage cover credit reporting ‘needs review’

23 October 2017

An independent review of the Privacy (Credit Reporting) Code 2014 should include the significance of comprehensive credit reporting to lenders’ mortgage insurance, according to the Insurance Council of Australia…

RBNZ rejects calls for independent review

23 October 2017

The Reserve Bank of New Zealand has dismissed calls for its review of the Insurance (Prudential Supervision) Act 2010 to be carried out by an independent body…

ASIC, FMA affirm fintech collaboration

23 October 2017

The Australian Securities and Investments Commission and New Zealand’s Financial Markets Authority have reaffirmed their collaboration on fintech and innovation…

ICA urges class action reform

16 October 2017

The Insurance Council of Australia has called for class action regimes to be made more efficient and cost-effective, as an increase in securities-related claims affects the market for directors’ and officers’ cover…

NSW plans CTP refunds

16 October 2017

Most NSW motorists can expect a compulsory third party refund next year as part of government reforms aimed at making the scheme fairer and more affordable…

APRA earns positive scorecard from industry

16 October 2017

General insurers have marked down the Australian Prudential Regulation Authority for its performance on cost consultations, while giving the regulator a mostly positive scorecard in its biennial Stakeholder Survey Report…

Premiums may rise under tax benefit changes: ICA

16 October 2017

Insurers may be forced to raise premiums to offset costs under Treasury’s proposal to remove a “double tax benefit” arising with certain deductible liabilities held by an entity that joins a consolidated group…

Ministers stop short of cladding ban

09 October 2017

The Building Ministers’ Forum has announced measures to prevent the use of flammable cladding on high-rise buildings, but has not recommended a national ban on the product…

NIBA opposes one-stop watchdog bill

09 October 2017

The National Insurance Brokers Association has opposed legislation allowing the Financial Ombudsman Service to be absorbed into a wider complaints authority…

NTC seeks feedback on driverless car laws

09 October 2017

The National Transport Commission wants road transport agencies, police and industry to comment on how driver laws should be changed to allow automated vehicles onto the roads…

Revenue decline dents WorkCover WA surplus

09 October 2017

WorkCover WA recorded a $4.6 million net surplus in the year to June 30, down from $8.5 million the previous year as a decline in revenue outpaced that of key expenses…

Canberra grant boosts cyber research

02 October 2017

The Federal Government will provide $50 million over the next seven years to establish the Cyber Security Co-operative Research Centre…