NZ regulator finds evidence of churn
04 July 2016
Research by New Zealand’s Financial Markets Authority shows 31% of life insurance policies lapse within three years…
Regulatory & Government
Reforms deliver faster payouts for asbestos victims
04 July 2016
The average waiting time to process mesothelioma and other dust disease victims’ compensation claims in NSW has halved under State Government reforms…
Reinsurance pool sets out terrorism conference program
04 July 2016
The Australian Reinsurance Pool Corporation has announced the program for its international conference later this year…
Accounting bodies refine insurance contracts standard
04 July 2016
Global accounting standards bodies have agreed that an insurer’s profit and loss statement should be the primary source of financial information in an insurance contracts framework…
NSW runs numbers on emergency services levy
27 June 2016
The NSW Government says revenue from a new property-based charge for funding fire and emergency services will grow 2.8% a year to more than $1 billion in 2019/20…
Victoria moves closer to ride-sharing rules
27 June 2016
Victoria is to develop rules for ride-sharing services such as Uber, after the Government agreed to hammer out a framework over the winter parliamentary break…
APRA seeks feedback on appointed actuary changes
27 June 2016
The Australian Prudential Regulation Authority has outlined proposals to improve the relevance of insurers’ appointed actuaries…
Fintech upheaval raises importance of culture: Medcraft
27 June 2016
Financial technology innovation makes good corporate culture even more important in gaining customer confidence, according to Australian Securities and Investments Commission Chairman Greg Medcraft…
IAIS seeks views on capital standards
27 June 2016
The International Association of Insurance Supervisors is to release a consultation document on risk-based insurance capital standards next month…
APRA to lift lid on more industry stats
20 June 2016
The Australian Prudential Regulation Authority wants to publish more general insurance statistics…
Resilience projects receive lift in Queensland budget
20 June 2016
Queensland’s state budget has allocated funds toward disaster resilience, improving infrastructure and tackling climate change…
NSW pledges $1.2 million to fight CTP fraud
20 June 2016
The NSW Government has allocated an extra $1.2 million to crack down on compulsory third party fraud…
Queensland closes on lifetime care for injured workers
20 June 2016
The Queensland Government has introduced a bill to Parliament providing lifetime care and support to people who suffer catastrophic injuries in the workplace…
ASIC fintech deal paves way for Singapore expansion
20 June 2016
Regulators in Australia and Singapore have signed an agreement to help innovative financial technology companies expand in each other’s markets…
ICA demands fair Queensland ride-share reform
20 June 2016
Reform of Queensland’s “personalised transport” industry, including ride-sharing, must be fair to stakeholders, the Insurance Council of Australia says…
Regulators rethink ‘systemically important’ approach
20 June 2016
The International Association of Insurance Supervisors has revised its assessment methodology for designating global systemically important insurers…
RBNZ warns of email rort
20 June 2016
The Reserve Bank of New Zealand has cautioned businesses in the financial sector against opening a scam email purportedly from one of its employees…
ASIC to ease licensing laws on fintechs
14 June 2016
Fintech start-ups will be allowed to operate for six months without a licence under one of several proposals to make the financial sector more innovative…
Allianz in the doghouse over pet cover claims
14 June 2016
Allianz Australia has compensated 740 Petplan customers a total of $231,000 and its agent, Petplan Australasia, has corrected its advertising following action by regulators…
ACT finalises insurance levy axe
14 June 2016
The ACT Government has delivered on its pledge to abolish insurance tax in the 2016/17 budget, and the Insurance Council of Australia has called on other states and territories to follow suit…