SIRA claws back record $178 million in excess profit from CTP insurers
30 January 2023
NSW State Insurance Regulatory Authority says it will recover a record $178.7 million in excess profit from compulsory third party insurers in 2018 and 2019...
Regulatory & Government
Tasmania releases home warranty scheme draft legislation
30 January 2023
The Tasmanian state government has released draft legislation to reintroduce a home warranty insurance scheme to cover consumers if their builder dies, disappears or becomes insolvent...
Dust disease clinic opens at icare's Sydney headquarters
30 January 2023
NSW’s icare has opened a new clinic offering lung health examinations to employers, workers and retirees exposed to hazardous workplace dust...
NSW Government funds Natural Hazard Research Centre
30 January 2023
The NSW Government has pledged $8 million over five years to establish the state’s Bushfire and Natural Hazard Research Centre...
NSW Motor Traders' Association renews icare partnership
30 January 2023
The Motor Traders’ Association of NSW and icare have renewed a two-year industry partnership. ..
Floodplain development 'needs to end', work starts on national standard
12 December 2022
First Ministers tasked Planning Ministers with developing a national standard to consider disaster and climate risk as part of land use planning reform, at a National Cabinet meeting on Friday...
Consultation begins on mandatory climate disclosures
12 December 2022
Treasury has started a consultation on Federal Government plans to introduce standardised reporting for business climate-related disclosures, with insurers likely to be among large financial institutions initially required to meet new obligations...
Federal Government seeks applications for ARPC Chair, members
12 December 2022
The Federal Government is inviting applications for the role of Australian Reinsurance Pool Corporation Chair as well as for board positions...
Federal Government calls for pre-budget submissions
12 December 2022
The Federal Government has invited individuals, businesses and other groups to make submissions on ideas and priorities for the next budget...
ASIC releases enforcement report
12 December 2022
The Australian Securities and Investments Commission has today released its latest enforcement report, summing up key actions taken from July to September...
icare home warranty fund extends Equifax partnership
05 December 2022
The NSW home warranty scheme has extended a technology partnership with Equifax Australia for two years, effective from the start of this month...
NSW appoints Emergency Management Deputy Commissioner
05 December 2022
The NSW Government has appointed Peter Thurtell to the newly created role of Police Deputy Commissioner Emergency Management...
APRA bank climate assessment points to insurance questions
05 December 2022
The Australian Prudential Regulation Authority banking climate vulnerability assessment has pointed to interconnected financial services issues, including for insurance...
Rival clears ACCC hurdle in takeover bid for iSelect
05 December 2022
The competition watchdog has approved Innovation Holdings Australia’s proposed takeover of rival comparator iSelect, after its examination of the bid concluded the deal was “unlikely” to lead to reduced competition in the sector...
Tasmania says CTP premiums 'remain the lowest'
05 December 2022
Tasmanian compulsory third party premiums remained the lowest in Australia last financial year, Infrastructure and Transport Minister Michael Ferguson has told a hearing...
'Frightened to speak up': APRA raises concerns after risk culture surveys
28 November 2022
Risk culture surveys over the past 18 months have revealed differing views on perceived risk behaviours and effectiveness of management processes, according to the Australian Prudential Regulation Authority...
NSW extends its abuse claim cover for care providers
28 November 2022
NSW has extended its indemnity program to cover providers of out of home care for physical and sexual abuse claims...
ICNZ says new bill provides 'greatly improved' natural hazards data
28 November 2022
New Zealand insurers have backed the introduction of the Local Government Official Information and Meetings Amendment Bill...
FAR bill hits snag over civil penalties measures
28 November 2022
Senate passage of the Financial Accountability Regime stalled last week after the Albanese Government decided not to press ahead with an amendment to include civil penalties of up to $1.1 million for individual executive breaches...
NTI welcomes changes to address 'ransom' tow truck costs
28 November 2022
Transport and logistics specialist NTI has praised recently implemented changes to WA tow truck legislation that provide protections to drivers from additional service costs...