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Regulatory & Government

ICA wants independent oversight of CTP liability

15 May 2017

An independent body should be appointed to set the “price of liability” when NSW moves to a hybrid no-fault compulsory third party scheme in December, the Insurance Council of Australia says…

APRA appoints insurance unit leader

15 May 2017

Jane O’Doherty has been appointed to lead a new team bringing together the Australian Prudential Regulation Authority’s governance, operational and insurance risk specialists…

Victoria removes stamp duty on farm cover

08 May 2017

The Victorian Government will remove a 10% stamp duty on agricultural insurance products, making it more affordable for farmers to cover crops, livestock and machinery…

ASIC’s funding formulas scrutinised

08 May 2017

Insurers and brokers are reviewing draft Treasury regulations that impose levies to fund the Australian Securities and Investments Commission…

NZ taxpayers slam emergency services levy

08 May 2017

New Zealand’s Taxpayers’ Union has attacked a 40% rise in insurance levies to fund the new national emergency service, echoing the claim that policyholders are unfairly penalised…

Insurers sign ESL removal pledge

01 May 2017

Insurance company CEOs have signed a declaration vowing they will not apply the emergency services levy on NSW policies after its required removal in July…

ARPC hosts terror risk seminar

01 May 2017

Security experts will discuss current and emerging threats at the Terrorism Risk Insurance Seminar on October 5…

Queensland CTP ‘in good health’

01 May 2017

An independent review has concluded Queensland’s compulsory third party insurance scheme is strong and does not require major reform…

ESL monitor to hold emergency levy removal inquiry

24 April 2017

NSW Emergency Services Levy Insurance Monitor Allan Fels has called a public inquiry requiring companies to explain how they calculate property premiums and outline their plans for removing the levy…

Industry attacked at Senate hearings

24 April 2017

General insurance was described as “a stitch-up” during two days of public hearings in the ongoing Senate inquiry into the industry…

ASIC seeks feedback on peer disciplinary panel

24 April 2017

The Australian Securities and Investments Commission is seeking feedback on a proposed financial services panel responsible for determining if errant individuals should be banned from the industry…

ASIC co-operates on fintech with Indonesian regulator

24 April 2017

The Australian Securities and Investments Commission has signed a co-operation deal with Indonesian financial services regulator Otoritas Jasa Keuangan to promote financial services innovation…