04 April 2022
The “shifting sands” of regulatory approaches have resulted in financial services legislation that is unwieldy and extraordinarily complex, the Australian Law Reform Commission says in a background paper...
04 April 2022
The Australian Prudential Regulation Authority has appointed Sean Carmody as Executive Director, Insurance, who starts today in his new role...
28 March 2022
The Insurance Council of Australia says action is needed to create a “viable and sustainable” cyber insurance market...
28 March 2022
A Senate committee review of the cyclone and related flooding reinsurance pool bill says it is satisfied the scheme will deliver improved insurance access and affordability in targeted regions, while future reviews will provide the opportunity to make improvements...
28 March 2022
An issues paper seeking feedback on the conflicted remuneration exemption for general insurance and other issues has been released by Treasury as the Quality of Advice review gets underway...
28 March 2022
A proposal to simplify the retail client definition as part of changes to remove financial services regulation complexity could backfire when it comes to general insurance, an industry submission to the Australian Law Reform Commission says...
28 March 2022
The Australian Financial Complaints Authority says it can no longer work on complaints about any of the Aboriginal Community Benefit Funds that are now in liquidation and have ceased operating...
21 March 2022
Federal Treasurer Josh Frydenberg is open to further action to address insurance affordability and availability, following the introduction of the cyclone reinsurance pool, The Guardian has reported...
21 March 2022
The Queensland Government will provide funding for house raising, retrofitting and voluntary buybacks of properties at risk from future floods as part of a $741 million resilience funding package...
21 March 2022
The Federal Government says it will draw down on the Emergency Response Fund to inject an additional $150 million into flood-affected communities in NSW and Queensland...
21 March 2022
An independent inquiry into the NSW flooding catastrophe will examine factors contributing to the disaster as well as land use planning and building standards in exposed locations, Acting Premier Paul Toole said today...
21 March 2022
The Federal Government has appointed lawyer Fiona Crosbie to the Financial Regulator Assessment Authority, established last year following a Hayne royal commission recommendation...
14 March 2022
Financial services, life insurance and superannuation lawyer Michelle Levy will lead the Federal Government Quality of Advice review...
14 March 2022
Australian Prudential Regulation Authority (APRA) Deputy Chairman Helen Rowell says a lack of national data on underinsurance or non-insurance has become apparent as the regulator has examined cover availability issues beyond the cyclone-related problems...
14 March 2022
The Australian Financial Complaints Authority is consulting on a new user-pays funding model, which it says will be fairer and more transparent...
14 March 2022
Voluntary administrators have been appointed to funeral insurer Youpla Group Pty Ltd while a number of related businesses are in liquidation, Australian Securities and Investments Commission notices show...
14 March 2022
A New Zealand interim solvency standard for insurers will come into effect next year after feedback suggested a proposed earlier start date was unnecessary and unworkable...
07 March 2022
The National Insurance Brokers Association says key concerns with the cyclone reinsurance pool should be addressed before the proposed scheme is implemented...
07 March 2022
The Australian Securities and Investments Commission will step-up its enforcement of design and distribution obligations after taking a “best-efforts” approach during a transition phase.
07 March 2022
Insurers can apply to make immediate $5000 emergency payments to consumers impacted by the current catastrophic flooding in Queensland and NSW after the Australian Securities and Investments Commission issued legislative relief...