DMF reporting to continue
04 February 2013
Discretionary mutual funds must submit another year of financial returns to the Australian Prudential Regulation Authority while consideration of how to regulate them remains “in progress”…
Regulatory & Government
ICA comments on LAGIC
04 February 2013
The Insurance Council of Australia has recommended changes to proposed internal capital adequacy assessment reviews in a response to the Australian Prudential Regulation Authority’s draft prudential practice guide…
APRA releases consultation paper on data risk
04 February 2013
The Australian Prudential Regulation Authority is seeking feedback by March 29 to its draft Prudential Practice Guide 235 on managing data risk…
Vehicle repair inquiry finds no harm to consumers – yet
04 February 2013
Customers are not being disadvantaged by vehicle manufacturers restricting repair information – but that could change, according to a report by the Commonwealth Consumer Affairs Advisory Council…
APRA consults on level-three conglomerates
04 February 2013
The Australian Prudential Regulation Authority consultation on level-three conglomerates will close on March 1, after it released its proposed regulatory requirements…
NSW to review CTP pricing
04 February 2013
The NSW Government has issued terms of reference for its review of the compulsory third-party pricing strategy…
NZ maintains ACC levies, introduces risk pricing
04 February 2013
The New Zealand Government has maintained some Accident Compensation Corporation levies at current rates for the next financial year, while changing risk pricing for heavy vehicles…
Victoria establishes emergency management authority
10 December 2012
A single authority charged with ensuring emergency authorities work together and share resources will manage all major disasters in Victoria from next year…
Watchdog sends warning to aggregators
10 December 2012
The Australian Securities and Investments Commission is threatening insurance and credit comparison websites with regulatory action if they fail to comply with consumer laws…
ICA squares up for SA tax battle
10 December 2012
The Insurance Council of Australia is ready for the next round in its fight against taxes, with South Australia its next target…
Insurers warned on NDIS
10 December 2012
National Disability Insurance Scheme agencies will have the power to recover payments from general insurers…
ICA denies age barrier claims
10 December 2012
The Insurance Council of Australia has challenged the Australian Law Reform Commission over its “intrusive reform of some aspects of the general insurance industry, including commercial matters…
NZ weighs up single dispute resolution scheme
10 December 2012
The New Zealand Government is considering merging the country’s four external dispute resolution schemes, in a move that would affect the Insurance and Savings Ombudsman…
Insurers say no to mandatory breach reports
10 December 2012
Australian insurers do not support a mandatory privacy breach notification regime, according to the Insurance Council of Australia…
Report brings builders’ warranty revamp closer
10 December 2012
Reform of the Victorian builders’ warranty insurance system will move a step closer next week when State Ombudsman George Brouwer is expected to table his report on the Victorian Building Commission…
Government tries again with Insurance Contracts Act reform
03 December 2012
The Federal Government has reintroduced a draft bill amending the Insurance Contracts Act, after its previous attempt expired because of the 2010 election…
SA to proceed with ‘no-fault’ CTP scheme
03 December 2012
South Australia’s fault-based compulsory third party scheme is to be overhauled amid claims it is unfair and increasingly unaffordable…
FSL monitor to report quarterly
03 December 2012
Victoria’s new Fire Services Levy Monitor Allan Fels will start work as soon as legislation establishing his office becomes law…
Earthquake commission presents findings
03 December 2012
The Canterbury Earthquakes Royal Commission has delivered its final report to the New Zealand Government and its public release is expected by Christmas…
Air crash compensation cap rises
03 December 2012
A bill raising the cap on air accident payments from $500,000 to $750,000 for domestic flights has passed Parliament…