Government seeks submissions on ASIC funding model
14 November 2016
The Treasury has called for submissions on a user-pays funding model for the Australian Securities and Investments Commission’s regulatory work…
Regulatory & Government
ACCC targets extended warranty industry
14 November 2016
The Australian Competition and Consumer Commission has accepted an enforceable undertaking from Virginia Surety Company after a review of extended warranty sales…
Car dealer commission cap may entangle brokers
14 November 2016
Brokers could find themselves caught up in moves to limit commissions for add-on insurance products sold through car dealerships…
APRA chief warns on low interest rate risks
14 November 2016
Long-term low interest rates will make it harder for life insurers to cover operational costs, the Australian Prudential Regulation Authority warns…
NTC outlines steps to clarify automated car liability
14 November 2016
The National Transport Commission has proposed a two-year reform program paving the way for deployment of automated vehicles on Australian roads…
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…
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…