ARPC reduces terror retrocession
03 March 2025
The Australian Reinsurance Pool Corporation has reduced its terrorism retrocession program for this year, partly reflecting risk assessment changes...
Regulatory & Government
Drone sniffs out danger at fire sites
03 March 2025
Fire and Rescue NSW has launched drones that can “smell” fire...
Grant scheme to bolster Queensland coastal defences
03 March 2025
The Queensland government has launched a $6 million fund for coastal councils to protect against ocean-driven erosion, storm tide inundation and rising sea levels...
Coalition flags cuts to capital, regulatory burden
24 February 2025
The Insurance Council of Australia has backed the Coalition’s pre-election pledge to ease the industry’s capital requirements and compliance costs...
Henry slams Labor, Libs over ‘nuts’ approach to tax reform
24 February 2025
Former Treasury secretary Ken Henry has repeated his call for the scrapping of “nuisance” taxes such as those levied on insurance...
ASIC consults on reduced reporting burden for minor breaches
24 February 2025
The Australian Securities and Investments Commission is seeking feedback on a plan to reduce the reporting burden on financial services licensees...
State urged to toughen planned claims farming ban
24 February 2025
The NSW government’s proposed ban on claims farming does not go far enough, the Insurance Council of Australia says...
SCA proposes WA strata commissioner
24 February 2025
Strata Community Association WA has called for $10 million of funding over four years for a state strata commissioner, and has urged all sides of politics to continue legislative reform...
Taskforce to oversee NSW strata rule changes
24 February 2025
A strata and property services taskforce will enforce a suite of NSW reforms taking effect this year, the state government says...
NSW battery standards kick in
24 February 2025
NSW has implemented its Australian-first information standard for lithium-ion battery mobility products and the first stage of product safety standards to help address fire risks...
State insurer takes over home construction claims from GB
17 February 2025
NSW state insurer icare is bringing builders’ warranty claims handling in-house in a bid to create a “more efficient, personalised, and streamlined” service...
SIRA puts ‘customers at centre’ of three-year plan
17 February 2025
NSW’s State Insurance Regulatory Authority has outlined its aims for the next three years...
Queensland to step up dangerous battery collections
17 February 2025
The Queensland government has launched a $2 million program to increase battery collection points and address growing fire risks...
SIRA cracks down on builders amid coverage probe
17 February 2025
The NSW insurance regulator has issued a penalty notice and 43 cautions over compulsory home building cover breaches...
Cyclone pool extension ‘would go beyond overseas model’
10 February 2025
An extension of the cyclone reinsurance pool cut-off to seven days after an event is downgraded could create a longer period of cover than is typical in international markets, federal MPs have heard...
Jones says advice reforms a priority as election looms
10 February 2025
Assistant Treasurer Stephen Jones has reiterated the Albanese government’s commitment to advancing the next stage of financial advice reforms, which include allowing insurers to provide simple guidance...
Commission calls for feedback on insurers’ motor club moves
10 February 2025
IAG and Allianz’s plans to take over motor club insurance operations are under scrutiny by the competition watchdog, which is canvassing the market about the potential impacts on pricing and smash repair services...
WA builder fined over insurance breach
10 February 2025
A Perth builder that started work on a house without acquiring mandatory home indemnity insurance has been fined $3500 and ordered to pay $736 in costs....
Workers’ comp self-insurer rapped over compliance issues
10 February 2025
NSW’s State Insurance Regulatory Authority has placed special conditions on a property business’ workers’ compensation self-insurer licence after an audit found compliance and claims management issues...
Industry lauds outgoing minister Jones
03 February 2025
The insurance industry has hailed Assistant Treasurer and Financial Services Minister Stephen Jones, who announced last week he will not stand for re-election...