ASIC reports on market integrity
11 April 2016
The Australian Securities and Investments Commission has released its half-yearly report on market integrity, with a focus on deterrence, standards and education, and behavioural change…
Regulatory & Government
ICA urges hull duty exemption
11 April 2016
The Insurance Council of Australia has written to the NSW Commissioner of State Revenue arguing for commercial hull insurance’s continued full exemption from duty…
NSW builders’ warranty reform falls short: NIBA
04 April 2016
The National Insurance Brokers Association has criticised proposed reforms to NSW’s state-run builders’ warranty insurance scheme…
ASIC zeroes in on cyber crime
04 April 2016
The Australian Securities and Investments Commission has stepped up its surveillance of cyber crime this year in a bid to keep pace with the growing digitisation of the financial services industry…
CTP fraud hotline attracts tip-offs
04 April 2016
The NSW Compulsory Third Party Fraud Taskforce is already making a difference, according to the Insurance Council of Australia…
Insurance contracts under spotlight in consumer law review
04 April 2016
Standard-form contracts covered by the Insurance Contracts Act 1984 are included in a review of Australian Consumer Law by Consumer Affairs Australia and New Zealand…
Anglo-Australian deal removes barriers for innovators
04 April 2016
An agreement between national regulators will give fintech companies in Australia and the UK more support when they attempt to enter each other’s markets…
APRA prudential standards extended to holding companies
04 April 2016
General and life insurance holding companies are covered in the latest Australian Prudential Regulation Authority prudential framework…
ASIC consults on disclosure class orders
04 April 2016
The Australian Securities and Investments Commission has released a consultation paper on remaking four class orders relating to financial services disclosure…
NSW reviews outdated insurance law
21 March 2016
The NSW Law Reform Commission hopes to remove uncertainty for insurers, businesses and consumers by reviewing a 70-year-old insurance law…
ASIC sets out proposed rules on digital advice
21 March 2016
The regulatory environment for providing digital advice will be the same as for personal advice, according to a consultation paper from the Australian Securities and Investments Commission…
Terrorism pool welcomes premiums taskforce findings
21 March 2016
The Australian Reinsurance Pool Corporation has backed the final report of the Northern Australia Insurance Premiums Taskforce and its focus on mitigation over intervention…
OnePath under review following breaches
21 March 2016
From 2013 to the middle of last year about 1.3 million customers were affected by breaches, requiring refunds and compensation of about $4.5 million, plus rectifications and other remediation of about $49 million…
Travel insurers ‘need more data’ to cover mental illness
21 March 2016
More data is needed for insurers to adequately underwrite travel insurance policies that cover mental illness, according a roundtable on the issue…
Canberra to host terrorism conference
21 March 2016
This year’s Global Terrorism Risk Insurance Conference will take place in Canberra on October 6-7…
Suncorp backs no-fault CTP for NSW
21 March 2016
Suncorp has welcomed the NSW Government’s decision to review its compulsory third party (CTP) insurance regime and has urged the state to adopt a no-fault scheme…
ICA sounds caution on WA move to provisional damages
21 March 2016
The Insurance Council of Australia’s submission to a Law Reform Commission of WA discussion paper on the introduction of provisional damages says provisional payments should only be available for claims relating to asbestos and dust diseases with long latency periods…
NSW to overhaul ‘unsustainable’ greenslip scheme
14 March 2016
The NSW Government has announced a review of its compulsory third party model, with Minister for Better Regulation Victor Dominello slamming the scheme as “inefficient and unsustainable”…
ASIC reports on ASX cyber resilience
14 March 2016
The Australian Securities and Investments Commission has released its first assessment report on the cyber resilience of the Australian Securities Exchange and Chi-X…
ICA calls for clarity, pragmatism in data breach regime
14 March 2016
The Insurance Council of Australia supports a mandatory notification regime for serious data breaches, but cautions the system should be “pragmatic”, with minimal regulatory burden on companies…