Productivity watchdog urges lawyers’ PI review
08 December 2014
The Productivity Commission has called for an independent review of lawyers’ professional indemnity insurance…
Regulatory & Government
ICA warns of pitfalls from overhaul of child abuse laws
08 December 2014
The Insurance Council of Australia has raised “substantial” concerns about removal of the statute of limitations for civil actions relating to criminal child abuse in Victoria…
Insurers expect higher injury awards under new NZ law
08 December 2014
Changes to personal injury laws may produce higher payouts and require changes to vehicle insurance and public liability policies, according to the Insurance Brokers Association of New Zealand…
Andrews names new cabinet in Victoria
08 December 2014
Tim Pallas has taken over as Treasurer of Victoria following Labor’s state election victory…
TIO sale legislation passes in late-night sitting
01 December 2014
The Senate will proceed with an investigation into the sale of the Territory Insurance Office, despite the NT Government approving the $424 million deal last Tuesday…
APRA issues prudential standards
01 December 2014
The Australian Prudential Regulation Authority has released five final prudential standards that will apply to the general insurance industry from January 1…
APRA looks to reduce regulatory burden
01 December 2014
The Australian Prudential Regulation Authority is to release a report outlining measures to reduce the regulatory burden on industries it oversees…
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…
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…