All quiet on the northern front
30 November 2015
The Northern Australia Insurance Premiums Taskforce was due to submit its final report to the Government by the end of this month – but nobody seems to know where it is…
Regulatory & Government
APRA appoints new Deputy Chairman
30 November 2015
Helen Rowell has been appointed Australian Prudential Regulation Authority Deputy Chairman…
ICA demands level playing field with state insurers
30 November 2015
State insurers should be made to meet the same prudential standards as their commercial counterparts, according to the Insurance Council of Australia…
NSW workers’ comp insurer begins operations
30 November 2015
Insurance & Care NSW was officially launched last week, with a pledge to focus on customers over processes…
New terror threat system introduced
30 November 2015
Australia’s new terrorism alert system has gone live, with the current threat level established as “probable”…
Strong culture will keep ASIC away, Medcraft says
30 November 2015
Organisations with the right culture are less likely to suffer intervention from the Australian Securities and Investments Commission, Chairman Greg Medcraft says…
IAIS consults on global systemically important insurer regulations
30 November 2015
The International Association of Insurance Supervisors is consulting on proposed revisions to the assessment methodology for global systemically important insurers…
Motor insurers to improve clarity on automatic renewals
23 November 2015
Six insurers have agreed to be more upfront about annual automatic renewal processes for car insurance, after a spate of complaints led to an Australian Securities and Investments Commission review…
ASIC cancels broker’s licence
23 November 2015
The Australian Securities and Investments Commission has cancelled the licence of NSW insurance broker Leedam…
Regulator hails financial literacy drive
23 November 2015
Millions of Australians are improving their financially literacy thanks to the Australian Securities and Investments Commission, according to a new report…
NZ sales and advice culture will take time: regulator
23 November 2015
New Zealand’s Financial Markets Authority concedes “full adjustment” to its revised expectations on sales and advice will “likely take a few more years”…
RBNZ updates data collection guidance
23 November 2015
The Reserve Bank of New Zealand has published updates to its insurer data collection program…
Queensland catches up on no-fault CTP
16 November 2015
The Queensland Government is “considering options” for implementing the National Injury Insurance Scheme, and has committed to providing “reasonable and necessary care and support for people catastrophically injured in road traffic crashes, irrespective of fault”…
Culture the ‘final frontier’ of post-GFC change
16 November 2015
An organisation’s culture cannot be regulated, and must instead be generated internally, Australian Prudential Regulation Authority Chairman Wayne Byres says…
NZ minister unconvinced on handing over quake claims
16 November 2015
New Zealand’s Earthquake Recovery Minister Gerry Brownlee says he is doubtful about handing over Earthquake Commission claims to private insurers…
Report urges revamp to control NT’s rogue builders
16 November 2015
The NT Government has been urged to expand the number of contractors included in warranty schemes and compensation provisions for the Territory’s residential home-building industry…
Insurers in suspense over NZ fire service funding details
16 November 2015
The New Zealand Government has confirmed that urban and rural fire services will be merged into one organisation that will continue to be funded mainly through levies on insurance policies…
Regulators agree on loss rules for big insurers
16 November 2015
The Higher Loss Absorbency Requirements developed for global systemically important insurers are expected to be endorsed by G20 finance ministers in Turkey today…
Give insurers first look at quake claims: ICNZ
16 November 2015
The Insurance Council of New Zealand has called for changes to the Earthquake Commission Act so private insurers can assess claims first…
APRA to examine insurers’ remuneration practices
09 November 2015
The Australian Prudential Regulation Authority will scrutinise remuneration in insurance companies as it tackles corporate culture…