Industry calls for investment in hazard data
10 November 2014
Insurers continue to lobby the Productivity Commission for a national platform for information on natural disaster hazards…
Regulatory & Government
WA tables work health safety bill
10 November 2014
The WA Government has tabled its Work Health and Safety Bill, allowing public consultation until January 30…
ASIC budget cuts to hit surveillance efforts
03 November 2014
The Australian Securities and Investments Commission believes budget cuts imposed by the Federal Government will affect the service it can deliver…
Roundtable wants Canberra to front up on disaster management
03 November 2014
A business group has called on the Federal Government to play a “core role” in natural disaster management and arrangements…
Insurers holding back on home building advice: ASIC
03 November 2014
Consumers risk buying inadequate home building insurance due to a lack of assistance from insurers, according to the Australian Securities and Investments Commission…
NIBA urges open mind on market intervention
03 November 2014
The Productivity Commission should not dismiss the concept of government intervention in property insurance markets based on overseas experience, the National Insurance Brokers Association says…
APRA monitors catastrophe risks, investments
03 November 2014
The Australian Prudential Regulation Authority says catastrophe risk management, pressure from low interest rates and commercial pricing are current areas of focus in its regulation of general insurance…
IAIS sets out five-year plan
03 November 2014
The International Association of Insurance Supervisors approved seven goals in a new five-year plan at its AGM in Amsterdam last week…
Suncorp completes compliance revamp
03 November 2014
Suncorp has upgraded its general insurance compliance system as part of a wider independent review and remediation process ordered by the Australian Securities and Investments Commission…
Terrorism pool posts premium revenue increase
03 November 2014
The Australian Reinsurance Pool Corporation received premium revenue of $129.7 million in the year to June 30, up 1.9% on the previous year and 2.9% better than expected…
Commission aims to right Wrongs Act
03 November 2014
The Victorian Competition and Efficiency Commission recommends reforming the Wrongs Act to improve compensation for claimants…
NZ regulator prepares new insurer survey
03 November 2014
The Reserve Bank of New Zealand will run trials of a new quarterly insurer survey early next year…
Capital adequacy reports leave APRA unimpressed
27 October 2014
Insurers have been told to improve their capital adequacy reports following a review by the Australian Prudential Regulation Authority…
Brokers to feature on adviser register
27 October 2014
Some brokers may find themselves on the new Australian Securities and Investments Commission register of financial advisers…
ICA makes case for national hazard data
27 October 2014
Insurers and research groups have rejected the Productivity Commission’s claim that the country does not need a national platform to collect natural hazard data…
ACC’s profit falls as claims grow
27 October 2014
New Zealand’s Accident Compensation Corporation has reported a drop in profits after claims increased and investment income fell…
IAIS completes global capital standard
27 October 2014
The International Association of Insurance Supervisors has finished drawing up requirements for the first global insurance capital standard…
ICA flags contradictions in APRA risk management
20 October 2014
There are “inconsistencies” in the way the industry is required to manage risk, the Insurance Council of Australia says in response to proposed changes to prudential standards…
APRA ‘leads way’ in prudential supervision
20 October 2014
Australia has the Asia-Pacific region’s strongest insurance industry regulations, Standard & Poor’s says in a new report…
ASIC targets insurance add-ons
20 October 2014
The Australian Securities and Investments Commission is to focus its surveillance efforts on “add-on insurance” that is marketed inappropriately to consumers…