Trans-Tasman deal could ease professional insurance requirements
02 February 2015
Professionals who work in both Australia and New Zealand may no longer need duplicate insurance policies under proposals to remove trade and employment barriers…
Regulatory & Government
Sydney attack ‘shows importance of terrorism pool’
02 February 2015
The Martin Place siege in Sydney has raised awareness of the importance of terrorism reinsurance pools, according to the Australian Reinsurance Pool Corporation…
NSW smash repair reforms draw criticism
02 February 2015
Insurers have rejected many of the NSW Government’s plans to reform the smash repair industry, particularly establishment of a licensing scheme for assessors…
Government receives disaster funding report
02 February 2015
The Productivity Commission’s final report on natural disaster funding arrangements has been handed to the Federal Government…
Red tape reduction hits stumbling block
02 February 2015
Regulatory attempts to cut red tape by allowing insurers to use electronic disclosure documents have fallen foul of the Insurance Contracts Act…
ASIC bans motor insurers’ ex-directors
02 February 2015
Two former directors of two insolvent motor insurance providers have been banned from running companies for up to three years…
Murray report receives industry nod
15 December 2014
The Financial System Inquiry’s final report has gained broad support from the insurance industry…
Victorian injury law reforms to drive up claims: ICA
15 December 2014
Proposed changes to Victoria’s personal injury laws are likely to increase the size and number of insurance claims lodged, according to the Insurance Council of Australia…
ASIC to consult on general advice orders
15 December 2014
The Australian Securities and Investments Commission will consult on remaking class orders concerning general advice that are due to expire under sunset clauses…
Insurers seek change on claims reporting
15 December 2014
The Insurance Council of Australia has asked the Australian Prudential Regulation Authority to change insurers’ obligations for reporting claims development…
ASIC to award Queensland comparator contract
15 December 2014
The Australian Securities and Investments Commission has identified a preferred partner to set up a home and contents insurance comparison website for north Queensland…
ASIC reveals forum details
15 December 2014
The Australian Securities and Investments Commission will host next year’s annual forum in Sydney on March 23-24…
SME claims fall 15% under WorkCover NSW reforms
08 December 2014
WorkCover NSW has reported a 15% drop in the number of workers’ compensation claims against SME employers…
Law report backs damages-based billing
08 December 2014
The Productivity Commission says restrictions on lawyers offering claimants damages-based billing should be removed, to promote access to justice…
ICA calls for clarification of directors’ duties
08 December 2014
The Insurance Council of Australia has asked the prudential regulator to amend its guide to company directors, to improve its clarity and consistency…
APRA turns attention to ‘soft stuff’
08 December 2014
The Australian Prudential Regulation Authority is paying increased attention to institutions’ culture and values, according to Deputy Chairman Ian Laughlin…
Law accessibility report backs legal expenses cover
08 December 2014
Legal expenses insurance could improve average Australians’ access to justice, according to the Productivity Commission…
APRA finalises risk management standard
08 December 2014
The Australian Prudential Regulation Authority has issued an amended prudential standard on risk management, but has rejected many of the industry’s concerns about responsibility falling onto boards…
WA set to move to no-fault CTP
08 December 2014
The WA Government looks likely to introduce a no-fault compulsory third party scheme for people catastrophically injured in motor accidents…
Productivity watchdog urges lawyers’ PI review
08 December 2014
The Productivity Commission has called for an independent review of lawyers’ professional indemnity insurance…