RBNZ warns insurers over data collection
29 August 2016
The Reserve Bank of New Zealand says insurers may be issued “public warnings” if they fail to comply with a new data collection regime…
Regulatory & Government
icare makes big changes to NSW compo scheme
22 August 2016
Insurance & Care NSW will directly undertake policy and billing requirements for the state’s workers’ compensation scheme from early next year…
ICA urges legislative tweak to pave way for digital PDS
22 August 2016
The Insurance Council of Australia has asked the Government to amend the Insurance Contracts Act 1984 so insurers can digitally deliver product disclosure…
Road freight regulator sets out safety plan
22 August 2016
The National Heavy Vehicle Regulator has released a five-year blueprint to increase safety and productivity in the road freight industry…
NT chief admits TIO sale was poorly explained
22 August 2016
Chief Minister Adam Giles has conceded the NT Government could have better handled the sale of the Territory Insurance Office…
Tasmania legalises ride-share services
22 August 2016
Uber has won the green light to operate legally in Tasmania, with the passing of the Taxi and Hire Vehicles Amendment Bill in State Parliament last week…
ICA disputes gap insurance classification
22 August 2016
The Insurance Council of Australia has written to the NSW Government questioning its treatment of gap policies, which cover the potential shortfall between a motor insurance payout and the remainder of a vehicle loan…
ASIC rescinds financial services group’s licence
22 August 2016
Financial services business Marigold Falconer International’s licence has been cancelled over doubts it can secure professional indemnity insurance, as required by the Australian Securities and Investments Commission…
Youi NZ to admit guilt over sales misconduct charges
15 August 2016
Youi will plead guilty to misconduct charges, including making false sales pitches, filed by the New Zealand Commerce Commission…
Canberra sets up cyber squad
15 August 2016
The Federal Government has established a cyber team dedicated to identifying online terrorism-financing activities, money laundering and financial fraud…
ASIC bans fraudster Pratten
15 August 2016
The Australian Securities and Investments Commission has permanently banned Charles Pratten from providing financial services and engaging in credit activities…
Victoria flags changes to asbestos monitoring
15 August 2016
Checks for asbestos in buildings or structures developed after December 31 2003 may not be mandatory under WorkSafe Victoria’s review of occupational health and safety regulations…
EQC to cut 485 jobs as Canterbury workload winds down
15 August 2016
New Zealand’s Earthquake Commission plans to shed 485 jobs, more than half its employees, by January as its work in Canterbury enters the final phase…
NSW levy monitor puts insurers on notice
15 August 2016
Insurers will be penalised if they engage in “prohibited” action to protect margins as NSW moves to a new emergency services funding regime by July 1 next year, the Emergency Services Levy Insurance Monitor warns…
Travellers warned on batteries after fire on airliner
15 August 2016
The Federal Government has warned airline passengers about the dangers of carrying loose lithium-ion batteries, after a carry-on bag caught fire on a plane at Sydney Airport…
ICA urges improved public data access
08 August 2016
The Insurance Council of Australia has called for greater access to public data – but is less keen to share the industry’s own information…
ASIC moves to quell fintech incentive fears
08 August 2016
Consumer group Choice says plans to let fintech start-ups operate without financial services licences for their first six months would put consumers at risk…
Insurers to test premium disclosure
08 August 2016
The Insurance Council of Australia will soon begin a trial in which insurers disclose the previous year’s premium in renewal letters…
Border Force steps up asbestos crackdown
08 August 2016
Authorities are investigating six potential breaches of the import ban on asbestos, as custom officials increase vigilance at border checkpoints…
APRA rejects complexity complaint over conglomerate standards
08 August 2016
The Australian Prudential Regulation Authority has dismissed requests for more clarity in its supervision framework for insurance conglomerates…