NIBA questions FSI accountability proposals
27 March 2017
The National Insurance Brokers Association “is struggling to understand” how Treasury proposals requiring insurers to identify target and non-target clients can be practically enforced…
Regulatory & Government
ICA backs NSW insurance law reform
27 March 2017
The NSW Law Reform Commission’s proposal to replace Section 6 of the Law Reform (Miscellaneous Provisions) Act 1946 should be implemented, the Insurance Council of Australia says…
Tasmania casts doubt on comparator
27 March 2017
A government-run comparison website for home and motor cover would be difficult to implement and may not help consumers buy appropriate covers, the Tasmanian Government says in a submission to a Senate inquiry into the general insurance industry…
ASIC issues guide on risk management systems
27 March 2017
The Australian Securities and Investments Commission has released guidelines on how financial services licensees can maintain adequate risk systems…
BOM tightens ties with emergency services
27 March 2017
Emergency services will receive “better weather support” from the Bureau of Meteorology under an agreement that took effect last week…
Senators call for higher penalties on white-collar crime
27 March 2017
A Senate Economics References Committee inquiry into white-collar crime has called for higher civil penalties…
Regtech businesses form industry group
27 March 2017
A group of 13 regulatory technology, or regtech, companies including Kaplan-owned Red Marker have formed an association aimed at developing the fast-growing industry…
Artificial intelligence is here, says ASIC chief
20 March 2017
Artificial intelligence is becoming mainstream, creating challenges and opportunities for regulators, according to the Australian Securities and Investments Commission…
Government response to premiums report still missing
20 March 2017
More than a year after the final report of the Northern Australia Insurance Premiums Taskforce was published, the Federal Government has still not responded to it…
ACCC warns of technology trials
20 March 2017
Technology does not just bring benefits but also presents challenges, the Australian Competition and Consumer Commission has warned…
NIBA urges ‘fair’ levy allocation for ASIC funding
20 March 2017
The National Insurance Brokers Association wants levies to be allocated fairly when the Australian Securities and Investments Commission moves to a new funding model on July 1…
ICA rejects mandatory home replacement cover
20 March 2017
The Insurance Council of Australia has warned against moves to require total replacement policies for home cover as part of wider reforms to protect consumers…
ICNZ renews attack on FENZ levy
20 March 2017
The Insurance Council of New Zealand has again criticised plans to pay for a new national emergency service through insurance levies…
ARPC sheds light on premium calculations
20 March 2017
The Australian Reinsurance Pool Corporation has published details of how reinsurance premiums are calculated…
ACCC rejects car dealer commission cap
13 March 2017
The Australian Competition and Consumer Commission has rejected a proposal by insurers for a 20% cap on commissions paid to car dealers who sell add-on insurance…
Delayed greenslip reforms reach NSW Parliament
13 March 2017
Compulsory third party reforms aimed at streamlining the claims process, cutting fraud and reducing premiums were introduced to the NSW Parliament last week after the measures were delayed last year…
ESL reform to end ‘unfair’ burden on NSW households: ICA
13 March 2017
The move to a property-based emergency services funding regime on July 1 will end an “unfair and illogical” system that has penalised NSW property insurance policyholders, the Insurance Council of Australia says…
Review flags flaws in NSW workers’ comp system
13 March 2017
The NSW Government has been urged to establish a “one stop shop” to resolve workers’ compensation disputes…
Queensland MP joins campaign for state-owned insurer
13 March 2017
Cairns MP Rob Pyne has joined calls to resurrect Queensland’s State Government Insurance Office (SGIO) to tackle allegedly unaffordable home insurance premiums in northern Australia…
ASIC reports on enforcement, sets out priorities
13 March 2017
“Conduct risk” and the integrity of financial market benchmarks remains a high enforcement priority for the Australian Securities and Investments Commission, according to its report for the last half of 2017…