AFCA activates significant event response plan for floods
11 July 2022
The Australian Financial Complaints Authority has activated its significant event response plan for the NSW storms and floods...
Regulatory & Government
FMA confirms new enforcement head
11 July 2022
New Zealand regulator the Financial Markets Authority has promoted Acting Head of Enforcement Margot Gatland to the position permanently...
WA funds hazard reduction activity to cut bushfire risk
11 July 2022
The WA government has provided nearly $5 million to local governments to fund the building of fire breaks, reduction of fuel loads and hazard reduction burns during the cooler months...
APRA finalises cyclone pool standard amendments
04 July 2022
The Australian Prudential Regulation Authority has finalised capital adequacy standard amendments required as a result of the new government-backed cyclone reinsurance pool for northern Australia...
icare changes home warranty process for small builders
04 July 2022
NSW state-owned insurer icare has changed its home warranty scheme process to make purchasing the cover simpler for small builders...
New Zealand insurers get set for new conduct regime
04 July 2022
New Zealand’s Parliament has passed legislation for the establishment of a new conduct regime to shore up consumer protections across the insurance and banking sectors...
Queensland Government backs building regulator reforms
04 July 2022
The Queensland Government has accepted recommendations that aim to improve the performance of the state building and construction industry regulator, while also underscoring its disaster resilience role...
NZ review recommends class action reforms
04 July 2022
A New Zealand Law Commission report has proposed that new class actions legislation should be developed to improve access to justice, with the review unconvinced about adverse implications for insurance...
SA lawyers seek changes to 'flawed' workers' compensation bill
04 July 2022
The Australian Lawyers Alliance says a South Australian Government workers’ compensation bill, introduced into Parliament after a previous version was withdrawn, is flawed and ambiguous and will create uncertainty...
Man pleads guilty to workers' compensation fraud
04 July 2022
A man has pleaded guilty to defrauding the NSW workers’ compensation scheme after a State Insurance Regulatory Authority investigation...
'Unfair': NSW budget ignores ESL
27 June 2022
The NSW budget missed the opportunity to tackle unfair insurance taxes and levies, the Insurance Council of Australia says...
ICA endorses Queensland Government's flood relief fund
27 June 2022
The Insurance Council of Australia praised the Queensland Government’s budget commitments to address community resilience to extreme weather events...
SIRA imposes conditions on Racing NSW workers' comp licence
27 June 2022
NSW’s State Insurance Regulatory Authority has imposed special conditions on Racing NSW’s workers’ compensation insurance licence after performance issues were found...
New Queensland law bans 'insidious practice' of claim inducement
27 June 2022
Queensland has banned the “farming” of personal injury claims, with new laws prohibiting anyone soliciting another person to make a claim, paying for details of potential claimants, or receiving payment for a claim referral...
NSW Parliament floods inquiry seeks questionnaire input
27 June 2022
The NSW Parliament Select Committee inquiry into this year’s floods has invited community feedback through an online questionnaire that closes on Thursday...
icare liabilities rise, improvement plans move ahead
20 June 2022
Liabilities for the icare NSW workers’ compensation scheme increased in the second half of last calendar year compared to six months earlier as the insurer continues work on a performance improvement program amid headwinds...
NSW expands insurance regulatory body and injury compensation laws
20 June 2022
The NSW parliament has passed changes to existing motor accident and worker compensation laws to increase coverage for victims, and has strengthened the State Insurance Regulatory Authority’s jurisdiction...
Experts provide input on financial services rules
20 June 2022
The Australian Law Reform Commission has received input from international experts at a webinar as it works on a second interim report for a three-year review into the simplification and rationalisation of financial services regulation...
SA makes workers' comp changes after key court case
20 June 2022
The SA Government will lift the “seriously injured” threshold for workers’ compensation as part of a compromise on reforms required to prevent the state scheme falling into a financial black hole due to a landmark Supreme Court decision...
NIBA backs home warranty return in Tasmania
20 June 2022
A submission by the National Insurance Brokers Association to the Tasmanian Government’s Home Warranty Insurance consultation supports reintroduction of the scheme, alongside complementary reforms to reduce risk and ensure its long-term viability...