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Regulatory & Government

RBNZ undecided on merits of policy guarantee scheme

30 May 2022

The Reserve Bank of New Zealand says it is still considering whether or not to proceed with further work on a policy guarantee scheme after industry submissions were “universally against” while policyholder focus group views were mixed...

AFCA work aims for clarity around key fairness role

16 May 2022

The Australian Financial Complaints Authority has completed a program of work to provide greater clarity around its fairness responsibilities while providing tools to assist all parties involved in the disputes process...

NSW launches investigation over Mascot Towers

16 May 2022

The NSW Government is launching an investigation into the conduct of the former City of Botany Bay regarding Mascot Towers, which was evacuated in 2019 after fears the building was unsafe...

ICNZ seeks graduated climate change reporting

16 May 2022

The Insurance Council of New Zealand has proposed a more graduated approach to reporting climate change impacts on financials, as disclosure rules are considered ahead of new reforms coming into effect...

APRA plans deeper dive into detailed data

09 May 2022

The Australian Prudential Regulation Authority plans to enhance its data collection to gain greater insights into the performance of products and emerging risks, the Actuaries Institute summit has heard...

AFCA adopts merit test after pilot

09 May 2022

The Australian Financial Complaints Authority has made early “merit assessment” a permanent feature of its process, saying a pilot program showed this made complaints handling faster, cheaper and fairer...

APRA letter outlines cyclone pool treatment

02 May 2022

The Australian Prudential Regulation Authority has written to general insurers about its plans to clarify capital implications from the new government-backed cyclone reinsurance pool...

NZ launches climate change adaptation plan

02 May 2022

The New Zealand Government has launched a draft National Adaptation Plan aimed at helping communities adapt to the unavoidable impacts of climate change...