Earthquake Commission announces new CEO
13 February 2017
New Zealand’s Earthquake Commission has named Sid Miller as CEO, effective from today…
Regulatory & Government
ICA raises concerns on OECD tax treaty
13 February 2017
The Insurance Council of Australia is concerned about an “increased compliance burden” should Canberra implement articles 12-14 of an OECD treaty designed to address tax avoidance by multinationals…
CERA stumbled after early quake action: report
13 February 2017
New Zealand’s Canterbury Earthquake Recovery Authority struggled with a less defined role once the Christchurch emergency response ended, and was overly optimistic in its communications, an Auditor-General’s review has found…
ARPC chairman to step down
13 February 2017
Australian Reinsurance Pool Corporation Chairman Joan Fitzpatrick has announced she will not seek reappointment when her term expires at the end of June…
Asbestos breaches ‘must be punished’
06 February 2017
Every breach of Australia’s zero-tolerance policy on asbestos imports should be punished, the Asbestos Safety and Eradication Agency says…
Budget submissions renew call for mitigation spending
06 February 2017
Pre-budget submissions for the next financial year have urged Canberra to increase disaster mitigation funding as part of a long-term strategy…
ICA calls for protection on industry’s value-added data
06 February 2017
Proposed rules to give consumers more control over their data may have repercussions for underwriters, the Insurance Council of Australia warns…
Queensland brokers warned on WorkCover rules
06 February 2017
WorkCover Queensland has urged insurance brokers to ensure clients are covered for workplace injuries as it adopts a sharper compliance focus…
ASIC plans technology boost, improved communication
06 February 2017
The Australian Securities and Investments Commission says its compliance and monitoring will be improved through investment in Big Data technology and an infrastructure overhaul…
ICA sets a figure on driverless car trials
06 February 2017
The Insurance Council of Australia says organisations trialling highly automated vehicles should have at least $20 million in public liability insurance…
NSW pushes ahead with builders’ warranty reform
06 February 2017
The NSW Government is implementing reforms to its builders’ warranty scheme, including phasing out broker commissions…
The things that matter, by the FMA
06 February 2017
The Financial Markets Authority in New Zealand has released the final version of its conduct guide…
Fintech licence exemption alarms consumer advocates
30 January 2017
The Australian Securities and Investments Commission will allow fintechs to market-test new services without holding a licence – a move that has sparked protests from consumer groups…
NSW looks to simplify unclear insurance law
30 January 2017
The NSW Government is considering a recommendation to replace a 70-year-old insurance claims law that has caused uncertainty over liability cover for directors and officers…
ICA raises concern over last-resort compo scheme
30 January 2017
An industry-funded compensation scheme of last resort is not the answer to improving the dispute resolution framework, according to the Insurance Council of Australia…
Terrorism pool increases retrocession cover
30 January 2017
The Australian Reinsurance Pool Corporation has increased its retrocession coverage this year from $2.9 billion to $3 billion…
Marine laws ‘need reform’ after UK overhaul
30 January 2017
The Marine Insurance Act needs to be reviewed to keep pace with changes in the UK, according to the Insurance Council of Australia. It says the industry risks losing its competitiveness…
APRA seeks submissions on data overhaul
30 January 2017
The Australian Prudential Regulation Authority is asking for feedback on its proposals to improve the quality of data collected from authorised deposit-taking institutions, including insurers…
ICA proposes liability database improvements
30 January 2017
A national liability database could be improved by providing more detailed information, according to the Insurance Council of Australia…
ASIC cancels broker’s licence
30 January 2017
Sydney-based broker Core Insurance has had its Australian financial services licence cancelled…