23 August 2021
The Insurance Council of Australia (ICA) is concerned about “key aspects” of the proposed Financial Accountability Regime (FAR) that will impact on the successful implementation of the reforms, the peak body says in a submission to Treasury...
16 August 2021
The Australian Securities and Investments Commission says it will take account of compliance “best efforts” when enforcing a suite of reforms including design and distribution obligations that take effect in October amid ongoing COVID-19 disruptions...
16 August 2021
Federal Parliament has passed legislation that will make temporary changes to stock exchange continuous disclosure rules permanent, reducing the risk of opportunistic class actions...
16 August 2021
The Federal Government will make some last-minute amendments to design and distribution obligations, due to come into effect in October, after potential unintended consequences and issues were pointed out as financial services firms prepared for the new laws...
16 August 2021
National Insurance Brokers Association CEO Dallas Booth has been appointed to an expert panel advising a Treasury taskforce on the planned northern Australia cyclone reinsurance pool...
16 August 2021
The WA Government has released a draft bill to replace “archaic” state worker’s compensation laws that date back 40 years...
09 August 2021
Some of Australia’s largest insurers are keen to set up workplace vaccine programs as the nation races to get jabs in arms to reduce reliance on lockdowns to control the spread of COVID-19...
09 August 2021
The prudential regulator has called on the general insurance industry to improve its internal stress testing capabilities, following an assessment last year to identify ways insurers can enhance their capital management practices and improve adversity resilience...
09 August 2021
The government-backed terrorism insurance scheme is “best placed” to provide property damage cover from cyber attacks launched by extremists, according to the National Insurance Brokers Association...
09 August 2021
NSW state insurer icare says the key 26-week return-to-work rate has held steady while its net promoter score has continued a rise that began last year...
09 August 2021
Building firm Hansen Yuncken has been appointed as managing contractor of NSW’s flammable cladding Project Remediate program, which is removing cladding from affected residential buildings in the state...
02 August 2021
Insurers and financial institutions that discriminate against industries such as coal mining are not supporting the national economy, business representative organisation Townsville Enterprise has told a Parliamentary Committee inquiry hearing...
02 August 2021
The Insurance Council of Australia says it does not see any “real basis” to clarify further the term “utmost good faith” as spelled out in the Insurance Contracts Act in a submission to the Attorney-General’s Department...
02 August 2021
The Australian Securities and Investments Commission has released its regulatory guide and customer information requirements for the new add-on insurance deferred sales model...
02 August 2021
The Federal Government has listed the five projects where it will be investing more than $4.2 million to reduce the risk and impact of natural disasters on Australian communities...
02 August 2021
The Reserve Bank of New Zealand will host a webinar on Thursday to discuss its interim Solvency Standard for insurers...
26 July 2021
The Australian Securities and Investments Commission estimates about $24.702 million in total levy will be recovered from the general and life insurance industries to fund the cost of regulating the sectors in the last financial year...
26 July 2021
New Zealand’s Financial Markets Authority will write to 40 insurers after they lodged “poor” reviews of their own conduct in dealings with consumers...
26 July 2021
Many in the insurance industry are “struggling” to implement the raft of regulatory reforms made by the Hayne royal commission in its final report submitted in 2019 to the government, according to Xceedance...
26 July 2021
The Australian Securities and Investments Commission has posed 12 questions for feedback in a consultation paper released with draft regulation guidance for new hawking reforms...