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…
Regulatory & Government
NSW reviews outdated insurance law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…
Suncorp backs no-fault CTP for Queensland
14 March 2016
Suncorp has spoken out in support of a no-fault lifetime-care compulsory third party scheme in Queensland…
NSW opens debate on CTP in ride-share market
14 March 2016
The point-to-point transport industry’s compulsory third party model, including rise-share services like Uber, is to be reviewed by the NSW Government…
RBNZ updates insurer data collection guidelines
14 March 2016
The Reserve Bank of New Zealand has updated its guidelines for insurer data collection…
Pollies talk the talk on tax reform
07 March 2016
They were lining up at the Insurance Council of Australia annual forum to denounce state-based insurance taxes…
ASIC warns industry over ‘nonchalance’ around add-on insurance
07 March 2016
The Australian Securities and Investments Commission has vowed to act against inappropriate sales of add-on insurance products, amid growing concerns of consumers being misled…
Intermediaries remove ‘independent’ labels
07 March 2016
Suncorp-linked Citywide Insurance Brokers and Financial Planners, iSelect and wealth manager Wilson HTM have stopped using the term “independent” to market their businesses, following concerns expressed by the Australian Securities and Investments Commission…
SA waters down SME self-insurance reforms
07 March 2016
ReturnToWorkSA has performed a major about-face on a draft policy that would have prevented many SMEs from self-insuring…
ASIC urges more action on home insurance sales
07 March 2016
The Australian Securities and Investments Commission wants further improvements to the way home insurance is sold…