Reviews will strengthen NZ regulation, expert predicts
14 November 2016
New Zealand’s regulatory regime will be strengthened and may become more transparent after current reviews are completed, according to consultant Geof Mortlock…
Regulatory & Government
Queensland clears way for class actions
14 November 2016
Class actions can now take place in Queensland, following a change of legislation.
NIBA hits out at NSW builders’ warranty overhaul
07 November 2016
The National Insurance Brokers Association has criticised the NSW Government’s plan to phase out broker commissions under its overhaul of the loss-making builders’ warranty insurance scheme…
QBE out as Victoria unveils builders’ warranty revamp
07 November 2016
The Victorian Managed Insurance Authority is to introduce a new builders’ warranty system next July, and will no longer use QBE as its agent…
NSW cracks down on insurers’ CTP ‘super profits’
07 November 2016
The NSW Government has released a discussion paper aimed at reining in “excessive insurer profits” in its compulsory third party scheme…
ASIC keeps culture in crosshairs thanks to funding boost
07 November 2016
The Australian Securities and Investments Commission warns it will keep an even closer eye on signs of excessive risk culture in the financial sector…
Submissions reopen on dangerous building products
07 November 2016
A Senate inquiry into non-conforming building products will continue after being adopted by the 45th Parliament…
ICA warns ACT on surveillance clampdown
07 November 2016
New surveillance rules proposed by the ACT could hamper investigation of fraudulent claims and increase the cost of cover, the Insurance Council of Australia warns…
NSW workers’ rehab rates improve
07 November 2016
The NSW return-to-work rate has improved over a three-year period, while the overall cost of premiums has fallen, according to an inaugural performance report from the workers’ compensation regulator…
APRA asks for feedback on ARPC recoverables
07 November 2016
The Australian Prudential Regulation Authority has written to general insurers seeking feedback on the treatment of Australian Reinsurance Pool Corporation reinsurance recoverables…
NSW changes law on CTP legal costs
07 November 2016
The Motor Accidents Compensation Regulation 2015 has been amended to cap legal costs for NSW compulsory third party claims…
EQC shake-up pushed back to next year
07 November 2016
Reforms to New Zealand’s Earthquake Commission Act will be delayed until next year as the Government grapples with the potential changes…
Insurers face legacy system challenge under new accounting rules
31 October 2016
Australian insurers will have to replace legacy computer systems as a new global insurance contracts accounting standard takes effect in the next decade…
ASIC clarifies AR record-keeping requirements
31 October 2016
The Australian Securities and Investments Commission has amended its record-keeping obligations to ensure advice licensees can adequately monitor and supervise authorised representatives…
APRA hails industry health, cautions against complacency
31 October 2016
The Australian Prudential Regulation Authority has cautioned against complacency as it outlines risks facing the insurance industry…
ASIC bans former AR after fraud sentence
31 October 2016
The Australian Securities and Investments Commission has banned former NAS authorised representative Linda Rae Whelan after she was sentenced for fraud and stealing…
ICA outlines benefits of sustainable workers’ comp
31 October 2016
The Insurance Council of Australia has highlighted the need for socially and financially sustainable state workers’ compensation schemes…
NZ fire services levy to rise
31 October 2016
The New Zealand Fire Service Commission has proposed increasing the levy on insurance contracts by almost 40%…
RBNZ questions insurers on catastrophe risks
31 October 2016
The Reserve Bank of New Zealand is surveying insurers on the way they assess catastrophe risk exposure, as it considers stepping up its information gathering…
Terrorism pool payments to Government ‘unsustainable’
24 October 2016
The Australian Reinsurance Pool Corporation has expressed concern over its financial sustainability, blaming fees and dividends demanded by the Federal Government…