ICA backs towing fee regulation
01 December 2014
The Insurance Council of Australia says light vehicle accident towing fees in Victoria must be regulated to protect motorists from excessive charges…
Regulatory & Government
NT to reduce payouts under WorkSafe revamp
01 December 2014
The NT Government has supported every recommendation made in a review of the territory’s workers’ compensation scheme…
Medcraft calls for united front on cyber crime
01 December 2014
Cyber crime is a growing problem that requires a global solution, according to regulatory chief Greg Medcraft…
RBNZ reviews data collection submissions
01 December 2014
The Reserve Bank of New Zealand has reviewed submissions received during its consultation on the collection of insurer data…
Federal equality review sidesteps private insurance
01 December 2014
The Australian Law Reform Commission has declined to recommend removing insurers’ right to discriminate when offering some types of cover…
Inquiry to examine barriers to starting business
01 December 2014
The Productivity Commission will hold an inquiry into barriers to setting up and closing businesses…
Two companies cut from NSW workers’ comp list
24 November 2014
WorkCover NSW has cut the number of insurance agents handling workers’ compensation policies and claims from seven to five, with Gallagher Bassett Services and Xchanging failing…
ICA lashes competition ‘effects test’
24 November 2014
The Insurance Council of Australia has criticised the Competition Policy Review’s draft recommendation for tougher provisions against anti-competitive conduct…
Insurers urged to step up mitigation funding efforts
24 November 2014
Australian insurers should play a greater role in mitigation funding, similar to their US counterparts, the Productivity Commission has heard…
EQC prepares for life after Canterbury
24 November 2014
New Zealand’s Earthquake Commission faces major challenges as the “immense workload” from the Canterbury quakes winds down, according to its annual report…
FMA spreads its wings
24 November 2014
New Zealand’s Financial Markets Authority says it has increased its capabilities, enforcing new regulations and aiming to raise confidence…
ASIC paves way for electronic disclosures
17 November 2014
Financial services disclosures could be delivered electronically by default under new proposals from the Australian Securities and Investments Commission…
Advice restrictions ‘prevent risk warnings’
17 November 2014
Laws preventing insurers from giving financial advice mean they cannot warn consumers about underinsurance, the Productivity Commission has heard…
ICA seeks changes to APRA risk standard
17 November 2014
The Insurance Council of Australia wants further changes to an Australian Prudential Regulation Authority risk management standard due to take effect in January…
Axe reinsurance claims reports, says regulator
17 November 2014
The Australian Prudential Regulation Authority has proposed that reinsurers should not be required to report claims data to it…
Mental injuries push up Comcare premiums
17 November 2014
Comcare, the Federal Government’s workers’ compensation scheme, is among the most expensive in the country after premiums were lifted to meet the increasing cost of psychological injury claims…
ICA backs draft towing rules
17 November 2014
The Insurance Council of Australia has given in-principle support to draft recommendations for the NSW tow truck industry…
ASIC opens tenders for north Queensland aggregator
10 November 2014
The Australian Securities and Investments Commission is seeking tenders to create a home and contents insurance comparison website for north Queensland…
Actuary ready to report on north Queensland
10 November 2014
The Australian Government Actuary has finished its report comparing home and contents premiums in north Queensland with the rest of the country…
NSW enhances greenslip data for insurers
10 November 2014
Insurers that supply compulsory third party cover in NSW will have real-time access to Roads and Maritime Services vehicle registration data under plans to improve quoting…