EQC renews vast reinsurance program
13 July 2015
New Zealand’s Earthquake Commission has renegotiated its $NZ4.5 billion ($4.07 billion) reinsurance program…
Regulatory & Government
Marsh warns of NSW workers’ comp rate rises
13 July 2015
Marsh has warned its clients that “marked” rises in NSW workers’ compensation premiums may result from reforms that took effect this month…
RBNZ unveils two-tier supervision system
13 July 2015
The Reserve Bank of New Zealand has announced a new two-tier regulatory system that aims for closer oversight of insurers…
SA begins shift to privatised CTP
13 July 2015
The SA Government has called for expressions of interest from insurers seeking inclusion in the forthcoming privatised compulsory third party motor insurance market…
RBNZ consults on foreign insurance reports
13 July 2015
The Reserve Bank of New Zealand wants feedback on its proposals for insurers’ reporting of foreign business…
Mutuals succeed when market fails, Senate told
06 July 2015
Mutual insurers and member-owned businesses drive competition and provide a remedy when the market fails, Regis Mutual Management has told a Senate inquiry…
Government to hand out crop insurance grants
06 July 2015
The Federal Government has allocated $29.9 million to help farmers evaluate and buy crop insurance…
ASIC turns spotlight on One Big Switch
06 July 2015
Allegations that discounter One Big Switch misled consumers are being investigated by the Australian Securities and Investments Commission…
NZ insurers back EQC reform
06 July 2015
The Insurance Council of New Zealand is “broadly supportive” of proposed changes to the Earthquake Commission that would see insurers take the lead in handling claims…
Premium cap eases WorkCover NSW model transition
06 July 2015
WorkCover NSW’s new rewards-based model will limit premium increases for the next two years, according to WorkCover Insurance Director of Underwriting Jason McLaughlin…
Ride-sharing drivers should pay more: ICA
06 July 2015
Drivers using their own vehicles for commercial purposes via ride-sharing operations such as Uber should pay increased compulsory third party premiums, according to the Insurance Council of Australia…
SA ushers in new workers’ comp regime
06 July 2015
The new SA workers’ compensation scheme came into effect last week with the State Government saying it delivers some of the biggest changes in more than 25 years…
Terrorism pool adds board members
06 July 2015
The Australian Reinsurance Pool Corporation has appointed three new board members…
RBNZ data-collection program moves step closer
06 July 2015
The Reserve Bank of New Zealand has completed two insurer data-collection trials, bringing the process a step closer to introduction…
APRA urges ‘ongoing dialogue’ on cloud computing
06 July 2015
The Australian Prudential Regulation Authority has released an information paper on prudential considerations and key principles for outsourcing of shared computing services, including cloud storage…
NSW budgets $120 million for disaster resilience
29 June 2015
The NSW Government has allocated $120 million to natural disaster mitigation and recovery programs…
Senate launches flammable cladding inquiry
29 June 2015
A Senate inquiry will investigate the impact of non-conforming building products, following November’s devastating fire in Melbourne’s Docklands…
APRA calls for disclosure review
29 June 2015
The Australian Prudential Regulation Authority has called on the insurance industry to review its public disclosure practices…
Reinsurance pool moving to Sydney
29 June 2015
The Australian Reinsurance Pool Corporation is relocating to Sydney from Canberra as a cost-saving measure…
APRA to publish more life insurer data
29 June 2015
Prescribed capital amounts, insurance risk charges and other complex financial data concerning life insurers will be published by the Australian Prudential Regulation Authority under a new ruling…