NSW businesses call for better workers’ comp scheme
09 October 2023
Business NSW says further reforms, including increased oversight and better claims management, are needed to fix the state workers’ compensation scheme...
Regulatory & Government
Insurance accountability oversight starts in 2025
09 October 2023
The Financial Accountability Regime will come into force on March 15 2025 for the insurance and superannuation industry...
Queensland Government launches disaster preparation event
09 October 2023
The Queensland Government has launched a week-long initiative to help educate and remind its residents of the importance of protecting themselves against the impacts of severe weather...
European delegation returns with ‘strong message’
02 October 2023
Assistant Treasurer Stephen Jones has returned from a trip to Europe with Australia’s insurance leaders with a “strong message” from reinsurers to prioritise mitigation...
Tasmania reforms ‘complex and unfair’ fire service funding
02 October 2023
Tasmania is scrapping a levy on business insurance policies as part of an emergency services funding overhaul of arrangements described as “complex, unfair and unsustainable”...
‘As ready as possible’: national disaster preparedness summit wraps up
02 October 2023
Australia’s inaugural National Disaster Preparedness Summit wrapped up last week in Canberra as the country gets ready for the bushfire season, one that has been forecasted to be more fiery than the last few years because of El Nino...
RBNZ sets out full proposals for more active regulation
02 October 2023
The Reserve Bank of New Zealand has released a full set of legislative proposals, which include introducing a breach reporting regime and a wider range of enforcement tools, as it looks to become a more proactive insurance regulator...
Government assists law firm for 16 weeks after cyber attack
25 September 2023
The Australian Government says it has coordinated assistance for law firm HWL Ebsworth for 16 weeks after it reported a cyber-incident in May that compromised the data of hundreds of motor injury insurance claimants, as well as a large number of private sector clients and 65 public entities...
NSW budget a ‘missed opportunity’: ICA
25 September 2023
The Insurance Council of Australia says last week’s NSW state budget was a “missed opportunity” to cut insurance taxes and encourage greater uptake of cover...
NZ approves home raising plan for North Island communities
25 September 2023
The New Zealand Government will provide $15 million to help raise 200 homes at risk of flooding for the North Island coastline community of Tairawhiti Gisborne...
Industry granted four-week extension to report data
25 September 2023
The Australian Prudential Regulation Authority has given insurers a four-week extension to submit insurance data for the September and December quarters...
Insurer CEOs, Assistant Treasurer visiting London, Munich
18 September 2023
Insurance Council of Australia representatives will join Federal Assistant Treasurer Stephen Jones in London and Munich this week in a high-level dialogue with global sector leaders described as the first of its kind...
ICWA contacts claimants affected by cyber attack
18 September 2023
The Insurance Commission of WA says it is working with just over 300 motor injury insurance claimants affected by a cyber attack earlier this year...
icare finalises introduction of six claims service providers
18 September 2023
NSW state-owned insurer icare says six claims service providers are now supporting workers and employers following changes announced last year to expand choice and improve the performance of the scheme...
Cyber breach notification rate drops 16%
18 September 2023
There were 409 notifications of data breaches lodged in Australia in the six months to June, the Office of the Australian Information Commissioner says, down 16% from 486 in the corresponding period a year earlier...
ASIC to host annual forum in November
18 September 2023
The Australian Securities and Investments Commission will host this year's forum and annual dinner on November 21-22 at the Sofitel Melbourne on Collins...
Treasury examining natural hazard definition priorities
11 September 2023
Federal Treasury says it is looking at which natural hazard definitions are most in need of standardisation and has flagged future public consultations...
Industry set for tough new accountability regime after FAR passed
11 September 2023
The Financial Accountability Regime, the last final major Hayne royal commission recommendation, is set to commence after securing passage in the Senate last week...
SA reviews builders’ warranty scheme after insolvencies
11 September 2023
The SA Government expects to start consultation soon on ways to strengthen the state’s builders’ warranty insurance scheme after the collapse of construction firms exposed cracks in the current setup...
NSW invests more funds in reconstruction authority
11 September 2023
The NSW Government has announced an additional $115 million investment to the NSW Reconstruction Authority...