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…
Regulatory & Government
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…
Comments sought on how insurers will be regulated globally
13 March 2017
The International Association of Insurance Supervisors is to undertake a major global consultation on its proposed revisions to a number of Insurance Core Principles…
QBE flags options for comparison transparency
06 March 2017
QBE has joined the chorus against a mandatory independent comparison service for general insurance, but has flagged potential options for increasing transparency…
Revisit mental health exclusions, minister tells travel insurers
06 March 2017
Revenue and Financial Services Minister Kelly O’Dwyer has urged insurers to reconsider the blanket mental health exclusions in travel insurance policies…
icare starts direct workers’ comp sales
06 March 2017
The NSW workers’ compensation scheme operator started directly providing quotes and selling cover to new businesses last week, as part of a wider overhaul to the system…
Why CGU will quit NSW workers’ comp
06 March 2017
CGU decided to withdraw from the NSW workers’ compensation scheme because reforms to the scheme mean the risks and returns will “fall short of the company’s requirements”…
Terrorism pool to extend buildings cover
06 March 2017
Mixed-used and high-value residential buildings will be covered under the Terrorism Insurance Act from July 1, the Australian Reinsurance Pool Corporation says…
Ombudsman urges NZ to reform non-disclosure laws
06 March 2017
New Zealand’s Insurance & Financial Services Ombudsman wants a review of insurance regulations regarding unintentional non-disclosure…