Industry granted four-week extension to report data
25 September 2023
The Australian Prudential Regulation Authority has given insurers a four-week extension to submit insurance data for the September and December quarters...
Regulatory & Government
Insurer CEOs, Assistant Treasurer visiting London, Munich
18 September 2023
Insurance Council of Australia representatives will join Federal Assistant Treasurer Stephen Jones in London and Munich this week in a high-level dialogue with global sector leaders described as the first of its kind...
ICWA contacts claimants affected by cyber attack
18 September 2023
The Insurance Commission of WA says it is working with just over 300 motor injury insurance claimants affected by a cyber attack earlier this year...
icare finalises introduction of six claims service providers
18 September 2023
NSW state-owned insurer icare says six claims service providers are now supporting workers and employers following changes announced last year to expand choice and improve the performance of the scheme...
Cyber breach notification rate drops 16%
18 September 2023
There were 409 notifications of data breaches lodged in Australia in the six months to June, the Office of the Australian Information Commissioner says, down 16% from 486 in the corresponding period a year earlier...
ASIC to host annual forum in November
18 September 2023
The Australian Securities and Investments Commission will host this year's forum and annual dinner on November 21-22 at the Sofitel Melbourne on Collins...
Treasury examining natural hazard definition priorities
11 September 2023
Federal Treasury says it is looking at which natural hazard definitions are most in need of standardisation and has flagged future public consultations...
Industry set for tough new accountability regime after FAR passed
11 September 2023
The Financial Accountability Regime, the last final major Hayne royal commission recommendation, is set to commence after securing passage in the Senate last week...
SA reviews builders’ warranty scheme after insolvencies
11 September 2023
The SA Government expects to start consultation soon on ways to strengthen the state’s builders’ warranty insurance scheme after the collapse of construction firms exposed cracks in the current setup...
NSW invests more funds in reconstruction authority
11 September 2023
The NSW Government has announced an additional $115 million investment to the NSW Reconstruction Authority...
APRA review finds ‘step change’ in remuneration practices
11 September 2023
Australian Prudential Regulation Authority-regulated entities are making efforts to improve remuneration practices, according to a review by the regulator...
NZ governance review finds room for improvement
11 September 2023
A sample review of 29 New Zealand-regulated entities including insurers has found a number of good governance practices as well as some that were below expectations...
NZ Government to buy back Nelson homes
11 September 2023
The NZ Government has announced it will provide buybacks for a small group of homeowners within the Nelson region, pending an agreement with the local council...
Governments set for bushfire summit, back disaster risk reduction plan
04 September 2023
Federal and state governments will hold an inaugural two-day National Bushfire Preparedness Summit this month as weather forecasters warn this summer will likely be drier and hotter, raising the risk of fires breaking out...
DDO, technology risks among ASIC priorities
04 September 2023
The Australian Securities and Investments Commission will focus on technology risks and design and distribution practices as part of strategic priorities, the regulator’s latest corporate plan says...
Floods inquiry invites feedback through online survey
04 September 2023
The Parliamentary Committee inquiry into insurers’ responses to last year’s floods has invited people affected by the natural disasters to share their experiences through an online survey...
APRA corporate plan lists disasters, premium affordability as focus areas
04 September 2023
The Australian Prudential Regulation Authority has listed increased natural disaster frequency and severity as among its focus areas for the next four years...
Queensland offers third set of coastal grants
04 September 2023
The Queensland Government will provide $3.3 million in funding for 10 coastal councils for projects to help protect against rising sea levels...
ARPC sets direction after ‘pivotal period’
04 September 2023
The Australian Reinsurance Pool Corporation says the formal launch of the cyclone pool introduced a pivotal period for the organisation and refining the scheme’s operations across multiple functions is among key focus areas...
ASIC seeks IAG financial penalty over loyalty discounts
28 August 2023
The Australian Securities and Investments Commission has asked the Federal Court to impose financial penalties against IAG over alleged harm resulting from home insurance loyalty discount representations that it says were misleading...