ARPC names COO
28 November 2022
The Australian Reinsurance Pool Corporation has appointed Victoria Simpson as COO...
Regulatory & Government
NSW Government expands bushfire education program
28 November 2022
The NSW Government has announced a $400,000 boost for its school bushfire education program to improve preparedness for future events...
AFCA apologises for general insurance complaint delays
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”...
ICA backs advice review proposal on conflicted remuneration
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...
Bushfire resilience app to be rolled out nationally
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...
NZ regulator proposes approval measure for 'relevant' officers appointment
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...
Federal Government to launch international taskforce against cyber crime
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...
icare board removes executive performance incentives
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”...
NSW launches long-term care program for accident survivors
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...
ALRC to host webinar on financial laws renovation
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...
ICA applauds improvements to WA tow truck pricing transparency
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...
ARPC launches new website
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...
Claims handling on regulator's radar after catastrophes
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...
Federal Government commits $50 million for coastal mitigation
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...
Insurance flagged for next climate risk assessment
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...
SIRA launches return to work inspectorate
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...
APRA reiterates capital calls criteria as interest rates rise
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...
Katherine North flood mitigation levee works complete
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...
Federal Government revives push for perils standard definitions
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...
Flood-hit Northern Rivers region gains $800 million funding
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...