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Regulatory & Government

Victoria workplace mental health claims set to rise

10 October 2022

Workplace mental health claims in Victoria are projected to worsen further, doubling at current rates to make up a third of all WorkSafe claims by the end of the decade, the state’s workplace health and safety regulator said today to mark World Mental Health Day...

APRA facilitating action to protect Optus customers

10 October 2022

The Australian Prudential Regulation Authority says it is working with the Federal Government, and peer regulators on a regulatory change aimed at protecting financial services customers affected by the Optus data breach...

RBNZ releases interim solvency standard

10 October 2022

The Reserve Bank of New Zealand has released its insurance interim solvency standard, which takes account of upcoming changes to accounting rules...

ARPC releases revised cyclone pool premium rates

03 October 2022

The Australian Reinsurance Pool Corporation has released revised premium rates for the cyclone pool after completing a consultation on initial levels that highlighted concerns in WA and with some strata buildings...

NZ fire services funding bill maintains insurance levy

03 October 2022

New Zealand has called for submissions on proposed legislation introduced into Parliament that maintains an insurance-based levy to fund fire and emergency services while making changes to improve its operation...

ASIC puts onus on financial firms over remediations

03 October 2022

The Australian Securities and Investments Commission says it’s putting the onus on financial firms to improve their performance in delivering fair and timely remediations in cases where money is owed to wronged consumers...

Treasury consults on draft legislation for CDR action

03 October 2022

Treasury has released for consultation its exposure draft legislation for the Consumer Data Right scheme to enable initiation action, which would create a new channel for consumers to instruct a business to initiate actions on their behalf and with their consent...

APRA consults further on new accounting standard

03 October 2022

The prudential regulator has finalised capital and reporting framework changes in response to the introduction of Australian Accounting Standards Board 17 Insurance Contracts, the new accounting rule that will take effect next year...