ICA backs end to price-signalling provisions
10 October 2016
The Insurance Council of Australia supports the repeal of price-signalling provisions in the Competition and Consumer Act 2010, as recommended in a review led by Ian Harper…
Regulatory & Government
Income drop, expenses blowout dent WorkCover WA profit
10 October 2016
WorkCover WA’s profit fell by more than half to $8.5 million in the year to June 30, down from $17.9 million the previous year…
FMA ‘shifting through gears’ on culture, conduct
10 October 2016
New Zealand’s Financial Markets Authority says it has moved from transition mode to establish itself as a “fully fledged” conduct regulator…
APRA warns industry on erosion of customer trust
10 October 2016
Insurers should put the same effort into maintaining customer trust as they do protecting financial capital, the Australian Prudential Regulation Authority says…
File reports on time, ASIC warns
10 October 2016
The Australian Securities and Investments Commission has warned businesses that failure to lodge annual statements or auditor reports on time could result in licence cancellation…
ICA seeks clarity on appointed actuary role
03 October 2016
The Insurance Council of Australia wants clarification regarding the Australian Prudential Regulation Authority’s discussion paper on the appointed actuary role in insurance…
WA to set up rural service amid fire mitigation reforms
03 October 2016
The WA Government will support all 17 recommendations – including creation of a rural fire service – arising from an inquiry into January’s devastating Waroona blaze…
Driverless car rollout ‘needs national approach’
03 October 2016
A framework from the National Transport Commission is the “best way forward” for the introduction of automated vehicle technology, in concert with state-based trials, the NSW Joint Standing Committee on Road Safety has found…
NIBA seeks feedback on proposed marine law reforms
03 October 2016
National Insurance Brokers Association members have until next week to submit views on proposed changes to the Marine Insurance Act…
Businesses at risk under new drone regulations: QBE
03 October 2016
Australian businesses could face millions of dollars in property damage and injury costs under new drone regulations that took effect last Thursday, QBE warns…
EQC chief to leave at year-end
03 October 2016
New Zealand Earthquake Commission CEO Ian Simpson will depart at the end of December after six years leading the organisation’s response to the country’s costliest natural disaster…
Faulty product reporting period too short, retailers say
03 October 2016
The Retail Council wants the mandatory product safety reporting period lengthened from two days to four, to give stores more time to investigate whether an item is dangerous…
New drone regulations ‘no free-for-all’
26 September 2016
From Thursday, Australians will no longer need operators’ certificates and remote pilot licences to commercially fly drones weighing less than 2kg…
Growing data flows present opportunity and risk: APRA
26 September 2016
Big Data and technology present opportunities for risk management, but there are also challenges, an Actuaries Institute conference heard last week…
Life adviser ‘misled insurer’
26 September 2016
Former BT Financial adviser Michael Mahoney has been banned from providing financial services for four years after allegedly engaging in misleading and deceptive conduct…
NSW to reform fire certification system
26 September 2016
The NSW Government is to overhaul its building certification system in response to a damning report…
EQC revises job cut figures as work winds down
26 September 2016
The number of jobs at New Zealand’s Earthquake Commission will almost halve from January, as work related to the Canterbury quakes enters its final phase…
Ex-AMP adviser hit with life ban
26 September 2016
A former AMP financial adviser from Brisbane has been permanently banned for failing to comply with key requirements of the Corporations Act…
Fels warns insurers on NSW ESL reform
19 September 2016
The abolition of the $800 million NSW emergency services levy next July should lead to reduced property insurance premiums – and insurers who put up prices to boost margins will be heavily penalised, according to guidelines issued to the industry…
Vic WorkSafe objects to claims criticism
19 September 2016
WorkSafe Victoria has challenged a finding that the workers’ compensation scheme and its agents may have acted incorrectly when handling claims…