Queensland supports spinal injury research
05 June 2017
Queensland’s Motor Accident Insurance Commission has pledged $5 million over the next three years for research into a new treatment for spinal cord injuries…
Regulatory & Government
State insurer invests in patient safety program
05 June 2017
The Victorian Managed Insurance Authority has partnered with BehaviourWorks Australia on a $1.5 million initiative to improve patient safety in public healthcare…
WA holds bushfire mitigation summit
05 June 2017
A bushfire mitigation summit will be held in WA this month to discuss better strategies for managing the hazard…
Actuaries can help insurers get with the times, APRA says
29 May 2017
Insurers must unburden themselves of the old structures and systems preventing them from meeting younger consumers’ needs, Australian Prudential Regulatory Authority Executive Member Geoff Summerhayes says…
NZ raises EQC premium after funds depleted
29 May 2017
New Zealand is raising the Earthquake Commission premium rate by a third to replenish disaster funds drained by Canterbury and Kaikoura catastrophe claims…
State toughens laws on unsafe building products
29 May 2017
Queensland is cracking down on substandard building product imports after a series of high-profile material failures prompted calls for national action…
Plant takes on expanded icare role
29 May 2017
Former QBE executive Tim Plant will take on an expanded role at Insurance & Care NSW following Steve Hunt’s decision to retire after 12 years leading the self-insurance business…
Insurance guidelines set for automated vehicle trials
29 May 2017
Holding appropriate insurance is among the prerequisites for securing permits or exemptions to conduct automated vehicle trials, according to guidelines introduced by the National Transport Commission and Austroads…
Licensee-level breach reports would miss mark, ICA says
29 May 2017
Proposals to clamp down on financial misconduct by publishing individual licensees’ breaches could backfire and cause unfair reputational damage, the Insurance Council of Australia warns…
ASIC unveils development plans for regtech
29 May 2017
The Australian Securities and Investments Commission is seeking feedback on its regtech development proposals, which include technology trials and a “hackathon”…
New accounting standard shapes as major challenge
22 May 2017
After 13 years, a new global accounting standard for insurance contracts has been issued by the International Accounting Standards Board…
NSW emergency services levies drop as removal looms
22 May 2017
Emergency services levy rates on NSW property insurance policies have fallen to about 7% this month from 20% in January, as the market transitions to removal of the charge…
Views sought on complaints authority compo caps
22 May 2017
Treasury is calling for feedback on possibly raising the compensation cap for insurance product disputes to $1 million when the Australian Financial Complaints Authority starts operations in July next year…
Ex-ASIC manager to oversee ICA code review
22 May 2017
Former Australian Securities and Investments Commission GM Phil Khoury has been appointed to provide independent oversight for the General Insurance Code of Practice review…
IMF flags NZ insurance regulation gaps
22 May 2017
An International Monetary Fund assessment of New Zealand’s financial system has highlighted “significant gaps” in insurance regulation…
Insurers regret meagre mitigation investment
15 May 2017
The Insurance Council of Australia has criticised the federal budget for falling desperately short in its commitment to disaster mitigation spending…
Canberra invests in cyber-security unit
15 May 2017
The Federal Government will invest $10.7 million over four years to set up the Cyber Security Advisory Office to enhance the country’s digital defences…
Victoria floats stamp duty removal for home policies
15 May 2017
A Victorian Government discussion paper on increasing insurance among low-income earners flags removal of the 10% stamp duty on home policies as an option…
Insurers to make ESL pledge at Fels inquiry
15 May 2017
Insurers will reinforce their plans to remove the NSW emergency services levy from property policies at a public inquiry tomorrow…
Government opens disaster resilience website
15 May 2017
The Federal Government has unveiled its online Disaster Resilience Knowledge Hub…