ICA calls for ‘exclusion clause’ in insolvency law revamp LD
30 May 2016
The Insurance Council of Australia has urged caution in proposed changes to Australia’s bankruptcy and insolvency laws…
Regulatory & Government
Queensland NIIS scheme approved by Parliament
30 May 2016
Queenslanders catastrophically injured in motor vehicle accidents will now have access to lifetime care and support…
ASIC ramps up corporate governance messages
30 May 2016
The Australian Securities and Investments Commission has made its public messages on corporate governance more easily accessible as part of its overall goal to encourage good company practices…
Mecon hit by court order over fire levy
23 May 2016
Underwriting agency Mecon Insurance has refunded customers and paid costs of $20,000 after engaging in what Consumer Affairs Victoria called “price exploitation and misleading and deceptive conduct”…
ICA prefers hybrid no-fault CTP for NSW
23 May 2016
The Insurance Council of Australia says a hybrid no-fault compulsory third party scheme is the way forward for NSW, which is looking to reform the system…
Sum-insured impact on underinsurance overstated: NZ Treasury
23 May 2016
The move to “sum insured” cover for New Zealand home insurance policies over the past five years may have resulted in up to 85% of the country’s homes being underinsured by an average of 28%, according to the NZ Treasury…
Cladding inquiry highlights ‘glaring’ regulatory weakness
23 May 2016
The Senate inquiry into non-conforming building products has highlighted a “serious breakdown” in regulation and oversight…
SA keeps its workers’ comp premium rate low
23 May 2016
ReturnToWorkSA Chairman Jane Yuile has announced the organisation will keep its premium rates at 1.95% for 2016/17…
ASIC Chairman steps down from global role
23 May 2016
Australian Securities and Investments Commission Chairman Greg Medcraft has relinquished his role as Chairman of the International Organisation of Securities Commissions…
Company’s licence suspended over PI failings
23 May 2016
The Australian Securities and Investments Commission has suspended the financial services licence of Marigold Falconer International Limited because it does not have current professional indemnity insurance…
ICA urges caution on NSW levy transition
16 May 2016
The Insurance Council of Australia has pleaded for understanding if overcharging occurs during the phasing-out of NSW’s emergency services levy…
Insurers disagree on NSW ride-sharing review
16 May 2016
Insurers have taken different approaches in submissions to a review of NSW compulsory third party premiums for the point-to-point transport market…
NSW channels $83 million into coastal management
16 May 2016
The NSW Government will dedicate $83.6 million to managing its coastline in next month’s budget…
NZ reforms draw withering response from insurers
16 May 2016
Insurers oppose the New Zealand Government’s proposed reforms of the financial services industry, which include making a clear distinction between sales and advice…
Workers’ comp transition looms in SA
16 May 2016
People with work-related injuries and the medics who treat them are being contacted by ReturnToWorkSA as part of a program to help some South Australians transition from workers’ compensation-funded services…
Government announces dispute review panel
09 May 2016
The Federal Government has named the independent expert panel that will review the financial system’s external dispute resolution and complaints network…
ICA welcomes disaster resilience funding
09 May 2016
More than $100 million may be available for natural disaster resilience efforts after Treasurer Scott Morrison increased funding for a national program in the budget, according to the Insurance Council of Australia…
Canberra takes $112 million from terror pool
09 May 2016
The Federal Government has issued the Australian Reinsurance Pool Corporation with directions to pay it $112.5 million…
Government seeks submissions on supervisory levies
09 May 2016
The Federal Government wants submissions on proposed financial institution supervisory levies that will apply next financial year…
Extra funding lifts enforcement, data analysis: ASIC
09 May 2016
Additional federal funding will enable further surveillance and enforcement in areas such as life insurance, financial planning, responsible lending and misconduct and breach reporting, Australian Securities and Investments Commission Chairman Greg Medcraft says…