21 November 2022
The Australian Financial Complaints Authority says its process of allocating general insurance complaints to the case management stage has been delayed by a “sudden and significant increase in insurance claims”...
21 November 2022
The Insurance Council of Australia has supported a Quality of Advice review proposal to continue the general insurance exemption from the ban on conflicted remuneration, while consumer groups are calling for an end to commissions...
21 November 2022
A Bushfire Resilience Star Rating App will be rolled out nationally next year following a recent pilot with the Shoalhaven community, which was severely affected by the Black Summer bushfires...
21 November 2022
The Reserve Bank of New Zealand has proposed requiring insurers to seek its approval for appointments of “relevant” officers, including CEO, director and CFO, in a consultation paper focused on improving the Insurance Prudential Supervision Act 2010...
14 November 2022
The Federal Government says it will launch a “standing operation” to investigate and disrupt the practices of cyber crime syndicates, with a focus on ransomware threat groups in the light of the Optus and Medibank data breaches...
14 November 2022
The icare board says performance incentives will be removed from executive remuneration reward arrangements following a comprehensive review to ensure its framework is “fair competitive and transparent”...
14 November 2022
The NSW Government announced today CTP Care – a program to provide long-term support for road accident survivors – will formally commence on December 1, following a pilot run that has been operating since October 2020...
14 November 2022
The Australian Law Reform Commission will host a webinar on Wednesday on proposals to develop more “user-friendly” legislation and regulation covering financial services...
14 November 2022
The Insurance Council of Australia has welcomed reforms from the WA Government requiring tow truck operators to disclose maximum towing and storage fees...
14 November 2022
The Australian Reinsurance Pool Corporation has launched a new website as it embarks on a “major strategic project” to support insurers, policyholders and other stakeholders...
07 November 2022
The Australian Securities and Investments Commissions says the industry may have to reconsider its claim handling approach as “serial” severe weather events become normal...
07 November 2022
The Federal Government has committed $50 million on 34 projects including seawalls and breakwaters to reduce the risks from storm surges and coastal inundation and erosion...
07 November 2022
Financial regulators are turning their attention to an assessment of insurance climate vulnerability impacts following the completion of a project examining banking...
07 November 2022
NSW’s State Insurance Regulatory Authority has established a new team of inspectors to ensure employers are fulfilling requirements for workers returning from injury...
07 November 2022
The Australian Prudential Regulation Authority has set out its expectations on capital calls after seeing “uneconomic” requests to redeem existing instruments and replace them with new ones that come with higher interest servicing costs...
07 November 2022
The NT Government says works in Katherine North are now complete as the Katherine Flood Mitigation Project progresses to better protect the town from flooding...
31 October 2022
The Federal Government says it will move ahead on the development of standard definitions for “certain natural hazards” in insurance contracts, reviving a proposal that has been recommended in inquiries over recent years...
31 October 2022
The Federal and NSW Governments will provide $800 million to the Northern Rivers region for home-raising, retrofitting and buy backs following the devastating flooding earlier this year, while Prime Minister Anthony Albanese says National Cabinet will take a closer look at planning issues...
31 October 2022
General insurance has the second highest number of self-reported breaches after credit activity, according to the Australian Securities and Investments Commission...
31 October 2022
The Australian Prudential Regulation Authority has voiced concerns over the industry’s risk governance process after a review of 10 insurers revealed varying weaknesses such as lack of accountability, ad hoc and poorly coordinated risk control measures and inadequate attention paid to strong control effectiveness testing...