APRA consults on new cross-industry definition standard
27 November 2023
The Australian Prudential Regulation Authority is seeking feedback on a new cross-industry standard to centralise the regulator’s existing standards on definitions...
Regulatory & Government
Federal Assistant Treasurer backs NSW ESL reform
20 November 2023
Federal Assistant Treasurer and Financial Services Minister Stephen Jones says the NSW Government’s plan to remove the Emergency Services Levy from insurance policies is a long overdue reform...
Industry prepares for advice reforms as Treasury consults on draft legislation
20 November 2023
The Federal Government has proceeded to implement the first phase of its response to the Quality of Advice Review final report...
NSW introduces new laws to empower building regulator
20 November 2023
The NSW Government will implement new laws to boost the ability of the state's building commission to tackle poor industry practices...
Doubling of EQCover rolled through
20 November 2023
A New Zealand law change that doubled the home building insurance cap under the EQCover scheme to $NZ300,000 has fully rolled through...
Government works closely with DP World after cyber attack
13 November 2023
Ports operator DP World Australia says it is working closely with national cyber security experts and the Federal Government following an incident that has disrupted freight movement at its terminals...
Cyber security must be ‘top priority’ for corporations: ASIC
13 November 2023
The Australian Securities and Investments Commission has urged organisations to strengthen cyber security capabilities after its report found “significant gaps” in safeguards across businesses...
Government urged to up e-scooter insurance requirements
13 November 2023
The Australian Lawyers Alliance is calling for a detailed review of insurance and regulation options for e-scooters...
ACT flags fuel load burns ahead of warmer bushfire season
13 November 2023
The ACT Government has released its latest Bushfire Operations Plan, outlining its agenda to strengthen the territory’s bushfire protection and prevention...
Regulators to appear at parliamentary floods inquiry hearing
06 November 2023
Australia’s financial regulators will next month appear before the first hearing scheduled as part of the federal parliamentary inquiry into insurers’ responses to major floods claims last year...
Government ‘urgently’ exploring PI solutions for intrapartum services outside of hospitals
06 November 2023
The Federal Government is “urgently” investigating options to extend professional indemnity insurance and the Midwife Professional Indemnity Scheme for intrapartum care outside of a hospital setting provided by endorsed midwives...
Federal Court approves CCI claim payment scheme
06 November 2023
The Federal Court has approved a Catholic Church Insurance arrangement to provide for the “orderly” payment of claims in the event that it faces the risk of insolvency...
Victoria workers’ comp bill introduced as mental health claims soar
06 November 2023
The Victorian Government has introduced a bill into Parliament to revamp the state workers’ compensation scheme following rising financial pressures and increasing claims from mental health issues...
General insurance breach reports to ASIC rise
06 November 2023
General insurance accounted for 28% of breach reports submitted to the Australian Securities and Investments Commission, beaten only by credit product lines’ 32% during the 12 months to June 30...
ASIC takes legal action over poor dispute resolution
06 November 2023
The Australian Securities and Investments Commission has commenced civil penalty proceedings in the Federal Court alleging Telstra Super failed to meet internal dispute resolution requirements...
ICA calls on NSW to broaden climate commitments
06 November 2023
The Insurance Council of Australia has welcomed new legislation from the NSW Government to establish emission reduction targets but says “more needs to be done” to address future weather risks...
RAC Insurance hit with $20 million extra capital requirement
06 November 2023
RAC Insurance has been ordered to put up an additional $20 million capital requirement and the measure will stay in place until the Australian Prudential Regulation Authority is satisfied existing governance issues have been addressed...
NSW renews investment for flood-affected communities
06 November 2023
The NSW Government has announced a $50 million commitment for Central West communities to help rebuilding efforts and improve flood mitigation...
NZ regulator issues cyber resilience reminder
06 November 2023
The Financial Markets Authority has again urged financial services providers to prioritise cyber resilience, reminding them it’s mandatory to notify the regulator of any material breaches...
NSW rejects housing projects on Western Sydney floodplains
30 October 2023
The NSW Government says it has taken action to prevent the construction of new housing developments in some areas at high risk of flooding in the Hawkesbury-Nepean Valley west of Sydney...