ICA supports national workers’ comp overhaul
20 April 2015
The Insurance Council of Australia has signalled its support for reform of state workers’ compensation schemes…
Regulatory & Government
Consumer lawyers call for end to contract rules exemption
20 April 2015
The Federal Government should extend unfair contract rules to insurance and introduce an individual suitability test for consumers buying cover, according to the Consumer Action Law Centre…
NT backs changes to workers’ comp regime
20 April 2015
The NT Government will adopt the Workers Rehabilitation and Compensation Advisory Council’s 58 recommendations for amendments to its workers’ compensation scheme…
SA workers’ comp scheme drops rate to record low
20 April 2015
ReturnToWorkSA, formerly WorkCover SA, has cut its average premium rate to a record low of 1.95% of wages…
Victoria’s workplace injury rate hits record low
20 April 2015
Injuries in Victorian workplaces fell to a record low of 7.32 claims per million hours worked in the six months to last December, but there is scope for more improvement, according to WorkSafe Victoria…
ICA warns on small business ombudsman
20 April 2015
The Insurance Council of Australia has backed plans to create the Australian Small Business and Family Enterprise Ombudsman, so long as the draft bill to determine its powers does not clash with its own code of conduct…
NZ overhauls complaints system
20 April 2015
New Zealand has improved its system for dispute resolution and consumer complaints about financial services…
Queensland comparator up and running
13 April 2015
The Federal Government’s north Queensland home insurance comparison website has begun operating, with information on policies from eight insurers…
Industry raises doubts on cyclone cover mutual
13 April 2015
The insurance industry has given a lukewarm response to plans for a community-funded mutual insurer to provide cyclone coverage in northern Australia…
Insurers reject increased powers for ASIC and APRA
13 April 2015
Insurers are concerned about further regulation of product design and distribution and increased powers for the two industry regulators, according to the Insurance Council of Australia…
NIBA hails brokers’ exclusion from adviser register
13 April 2015
National Insurance Brokers Association CEO Dallas Booth has welcomed the exemption of most general insurance brokers from the new financial adviser register…
Harper review calls for consumer access to data
13 April 2015
The Competition Policy Review says consumers should have greater access to their data, in a proposal that would see insurers provide information on customer behaviour…
WA WorkCover rate falls to record low
13 April 2015
The average recommended premium rate for WA compulsory workers’ compensation insurance next financial year will be 1.483% of total wages, down from 1.556%…
Taxes add 20% to SA premiums: NIBA
13 April 2015
Taxes on general insurance in South Australia add about 20% to premiums, the National Insurance Brokers Association says…
ARPC reveals Sydney siege claims cost
13 April 2015
Losses of $1.2 million from 56 claims have been reported to the Australian Reinsurance Pool Corporation in relation to last year’s Martin Place siege…
ACC’s premiums drop, solvency rises
13 April 2015
New Zealand’s no-fault accident insurer, the Accident Compensation Corporation, cut rates on April 1 and reported solvency of 99.9% at December 31…
Taskforce to examine insurance affordability in north
30 March 2015
The Federal Government is to establish a taskforce to investigate creating a government-run reinsurance pool or mutual cyclone insurer in northern Australia to reduce home, contents and strata premiums…
Parliamentary committee raises doubts on UFIs
30 March 2015
A federal parliamentary inquiry has questioned the protection available for consumers buying house and contents cover from unauthorised foreign insurers…
Insurance taxes inefficient: white paper
30 March 2015
Insurance duties make up 8% of state and territory tax revenue, according to the tax white paper released today…
Federal Government to reform Comcare
30 March 2015
Commonwealth public servants will face tougher return-to-work requirements under proposed changes to Comcare…