APRA removes remaining capital penalty on Allianz
18 July 2022
The Australian Prudential Regulation Authority has removed the remaining $150 million additional capital penalty it imposed on Allianz Australia for lapses in risk governance...
Regulatory & Government
SIRA cuts workers' compensation surgeon fees
18 July 2022
The NSW State Insurance Regulatory Authority has introduced workers’ compensation changes to reduce costly surgeon fees to market rates...
NSW announces support for Mascot Tower owner-investors
18 July 2022
The NSW Government will extend financial aid to eligible apartment owner-investors of the turbulent Mascot Towers building...
icare targets relief for flood-hit areas
18 July 2022
Five northern NSW local government areas affected by this year’s flooding catastrophe will benefit from fast-tracked eligibility applications for home building compensation insurance...
AFCA expands internal leave scheme
18 July 2022
The Australian Financial Complaints Authority has announced extensions to its parental leave policy and the introduction of gender affirmation leave for its employees...
NSW consults on proposed home building scheme reforms
11 July 2022
NSW’s State Insurance Regulatory Authority has released a discussion paper in relation to its proposed measures to improve the home building compensation insurance scheme...
APRA seeks insurer executive package disclosure feedback
11 July 2022
The Australian Prudential Regulation Authority has opened consultation on new remuneration disclosure and reporting requirements it wants to introduce for insurers...
AFCA activates significant event response plan for floods
11 July 2022
The Australian Financial Complaints Authority has activated its significant event response plan for the NSW storms and floods...
FMA confirms new enforcement head
11 July 2022
New Zealand regulator the Financial Markets Authority has promoted Acting Head of Enforcement Margot Gatland to the position permanently...
WA funds hazard reduction activity to cut bushfire risk
11 July 2022
The WA government has provided nearly $5 million to local governments to fund the building of fire breaks, reduction of fuel loads and hazard reduction burns during the cooler months...
APRA finalises cyclone pool standard amendments
04 July 2022
The Australian Prudential Regulation Authority has finalised capital adequacy standard amendments required as a result of the new government-backed cyclone reinsurance pool for northern Australia...
icare changes home warranty process for small builders
04 July 2022
NSW state-owned insurer icare has changed its home warranty scheme process to make purchasing the cover simpler for small builders...
New Zealand insurers get set for new conduct regime
04 July 2022
New Zealand’s Parliament has passed legislation for the establishment of a new conduct regime to shore up consumer protections across the insurance and banking sectors...
Queensland Government backs building regulator reforms
04 July 2022
The Queensland Government has accepted recommendations that aim to improve the performance of the state building and construction industry regulator, while also underscoring its disaster resilience role...
NZ review recommends class action reforms
04 July 2022
A New Zealand Law Commission report has proposed that new class actions legislation should be developed to improve access to justice, with the review unconvinced about adverse implications for insurance...
SA lawyers seek changes to 'flawed' workers' compensation bill
04 July 2022
The Australian Lawyers Alliance says a South Australian Government workers’ compensation bill, introduced into Parliament after a previous version was withdrawn, is flawed and ambiguous and will create uncertainty...
Man pleads guilty to workers' compensation fraud
04 July 2022
A man has pleaded guilty to defrauding the NSW workers’ compensation scheme after a State Insurance Regulatory Authority investigation...
'Unfair': NSW budget ignores ESL
27 June 2022
The NSW budget missed the opportunity to tackle unfair insurance taxes and levies, the Insurance Council of Australia says...
ICA endorses Queensland Government's flood relief fund
27 June 2022
The Insurance Council of Australia praised the Queensland Government’s budget commitments to address community resilience to extreme weather events...
SIRA imposes conditions on Racing NSW workers' comp licence
27 June 2022
NSW’s State Insurance Regulatory Authority has imposed special conditions on Racing NSW’s workers’ compensation insurance licence after performance issues were found...