Queensland launches Suncorp-backed Get Ready storm campaign
11 October 2021
The Queensland government has launched a six-week Get Ready advertising campaign urging communities in the state to prepare for this year’s natural disaster season..
Regulatory & Government
Industry backs 'once in a generation' reforms
04 October 2021
The industry is ready for a raft of new regulations that are commencing this month, having made “sweeping” changes to their systems and processes in readiness for the Hayne-backed reforms...
Class action funders set for further restrictions
04 October 2021
Class action funders and lawyers face further restrictions under draft legislation that the Federal Government has released following recommendations from a Parliamentary committee inquiry...
New Zealand EQC damage cap set to double
04 October 2021
The New Zealand Earthquake Commission cap for residential building cover will double to $NZ300,000 from October next year as the Government takes on a larger share of the risk...
Warragamba EIS to face inquiry scrutiny
04 October 2021
The Chairman of an NSW Parliamentary Inquiry into plans to raise the height of the Warragamba Dam wall says future hearings will examine an Environmental Impact Statement released for consultation last week...
NSW bolsters SES storm rescue capabilities
04 October 2021
The NSW Government says the State Emergency Service will be bolstered by a $4.6 million investment in prototype rescue vehicles including six “unimogs” that can operate in flood waters up to 1.2 metres deep...
Hawking guide switches to home insurance example
27 September 2021
Finalised anti-hawking regulatory guidance has removed a travel insurance example in favour of a home purchase scenario and has provided more information on how to determine if a consumer would “reasonably expect” to be offered a particular product...
'Difficult to navigate': NSW CTP under scrutiny
27 September 2021
The NSW State Insurance Regulatory Authority is looking at options to improve legal support and assistance for people injured in motor accidents after a review found some claimants may need more help navigating the scheme following reforms...
icare appoints Willment, Malley as board members
27 September 2021
NSW state-owned insurer icare has appointed Kylie Willment and Virginia Malley as non-executive directors as a board renewal process continues...
NZ regulator flags concerns over 'poor value' credit card repayment insurance
27 September 2021
Credit card repayment insurance is a “poor value” product that is often sold with numerous exclusions and very prescriptive conditions, resulting in consumers not receiving the benefits they expected, according to New Zealand’s Financial Markets Authority...
APRA sets out fourth quarter policy priorities
27 September 2021
The prudential regulator says consultation on reforms to the insurance capital framework to reflect changes in new accounting standard AASB 17 is among its policy priorities in the fourth quarter...
Deferred sales model regulations finalised after consultations
20 September 2021
The Federal Government has finalised deferred sales model exemption regulations for the new regime aimed at preventing high pressure sales tactics...
CBA will plead guilty to consumer credit mis-selling charges
20 September 2021
Commonwealth Bank of Australia says it will plead guilty to 30 criminal charges filed by the corporate regulator alleging the business mis-sold consumer credit insurance products between 2011 and 2015...
VBA funds solar panel fire risk research
20 September 2021
The Victorian Building Authority is supporting research by RMIT University into fire safety and solar panels installed on multi-storey building facades to harvest energy without extensive roof space...
ARPC board adds new member
20 September 2021
Julie-Anne Schafer has been appointed to the board of the Australian Reinsurance Pool Corporation by the Federal Government for a three-year term...
APRA releases FAQs on capital treatment of investments in overseas insurance arms
20 September 2021
The Australian Prudential Regulation Authority has released a new set of frequently asked questions to clarify the regulatory capital treatment of investments in overseas deposit-taking and insurance subsidiaries...
ASIC says burden eased in breach reporting guidance
13 September 2021
The Australian Securities and Investments Commission has released finalised guidance for breach reporting obligations after making some changes resulting from industry feedback...
Allianz and subsidiary hit with $1.5 million penalty
13 September 2021
The Federal Court has ordered Allianz Australia and its subsidiary AWP to pay $1.5 million in penalties for mis-selling travel insurance policies through Expedia websites...
ASIC enforcement work secures $29.6 million in civil penalties
13 September 2021
The corporate regulator has provided a half-year update of its enforcement work, including about $29.6 million in civil penalties imposed by the courts as a result of actions it has taken on compliance failures...
APRA's COVID response backed by insurers
13 September 2021
The Australian Prudential Regulation Authority’s 2021 Stakeholder Survey reveals measures brought in to address risks from COVID have been given the thumbs up by insurers and other regulated financial service entities...