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Regulatory & Government

Members of ASIC, APRA oversight group appointed

13 September 2021

The Federal Government has appointed the inaugural members of the Financial Regulator Assessment Authority, which is tasked with reviewing and reporting on Australia’s twin watchdogs...

NIBA urges brokers to review APRA climate paper

06 September 2021

The National Insurance Brokers Association is urging insurance brokers to familiarise themselves with a paper outlining a new Climate Vulnerability Assessment underway at Australia’s largest five banks...

NIBA seeks NSW Finance Minister meeting over ESL issues

06 September 2021

The National Insurance Brokers Association has written to NSW Finance and Small Business Minister Damien Tudehope seeking a meeting over emergency services levy collection difficulties when placing risks with foreign insurers...

icare to start dust care payment remediation

06 September 2021

NSW state insurer icare is set to start remediation payments for dust disease care program participants that have been underpaid after receiving a consultants’ report on the proposed process...

ASIC to remain 'active litigator against misconduct'

30 August 2021

Australian Securities and Investments Commission Chairman Joseph Longo says the regulator will remain an “active litigator against misconduct” to protect consumers from bad corporate behaviour and practices...

NSW panel to report on decennial building defects cover

30 August 2021

The NSW Government says a Ministerial Advisory Panel is expected to report back early next year on options around introducing decennial liability insurance to cover new apartment building defects for up to 10 years...

NIBA welcomes Tasmanian action on fire levy

30 August 2021

The National Insurance Brokers Association has welcomed a Tasmanian government consultation on fire and emergency services reforms that may end a levy on business insurance premiums...

NSW to legislate workers' comp review reforms

30 August 2021

The NSW Government says it will introduce legislation covering a further eight recommendations from the McDougall review into state-owned insurer icare and workers’ compensation regulation...

APRA finalises remuneration standard

30 August 2021

The Australian Prudential Regulation Authority has released its response paper confirming the finalisation of CPS 511, a prudential standard that is designed to strengthen remuneration practices across the insurance, banking, and superannuation industries...

AV self-certification 'not strict enough': IAG

23 August 2021

A self-certification of autonomous vehicles process backed by the National Transport Commission is not rigorous enough to prevent serious safety breaches and, if introduced, must be compensated for in subsequent regulatory stages, IAG warns...