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Regulatory & Government

New Zealand consults on income insurance scheme

07 February 2022

New Zealand has started consultations on a proposed income insurance scheme that would support workers made redundant, laid off or forced to step aside because of a health condition or disability...

SIRA releases CTP, workers' comp action plan

07 February 2022

The NSW State Insurance Regulatory Authority has released its roadmap for driving better outcomes and value for money from the workers’ compensation and compulsory third party schemes...

Competition lawyer appointed as ACCC Chair

31 January 2022

Law firm Gilbert + Tobin Senior Partner Gina Cass-Gottlieb will start her five-year term as Australian Competition and Consumer Commission Chair on March 21...

Mitigation, ACCC review backed by bushfires inquiry

13 December 2021

A Senate committee inquiry triggered by the Black Summer catastrophe has backed increased mitigation and resilience spending and an Australian Competition and Consumer Commission examination of insurance cover as part of actions to help lessen the impact of future bushfires...

Cyclone expertise proposed for ARPC board

13 December 2021

The Australian Reinsurance Pool Corporation should appoint a board member familiar with insurance issues facing residents in cyclone-prone areas if a proposed extension of its responsibilities goes ahead, a Triennial review has recommended...

ASIC releases JobKeeper payment details

13 December 2021

The Australian Securities and Investments Commission has released details of JobKeeper payments received by listed companies and their subsidiaries  including insurance businesses...

ASIC cyber resilience report flags room for improvements

13 December 2021

The Australian and Securities Investments Commission has urged financial market firms to strengthen their defences to address the growing cyber threat after its latest report found improvements made in the last two years failed to meet expectations...

ALRC proposes key financial law changes

06 December 2021

The Australian Law Reform Commission has proposed changing the wording of the obligation to act “efficiently, honestly and fairly” and has suggested amending the retail client definition and improving advice terms...

Court to consider $113 million penalty for Westpac

06 December 2021

The Federal Court will be asked to impose penalties of $113 million on Westpac for breaches including systems failings that caused customers to pay for unnecessary duplicate general insurance policies...