22 March 2021
Claimants in compulsory third party or workers’ compensation schemes for longer periods are more likely to report poorer experience and outcomes and a lesser sense of justice or trust, a first report from long-term research commissioned by the NSW State Insurance Regulatory Authority says...
22 March 2021
The Australian Senate last week voted to “expand the scope and length” of the Fintech Select Committee to further strengthen the country’s position as a global financial and technology hub...
22 March 2021
The NSW State Insurance Regulatory Authority has put quarterly audits of icare on hold until the second half of this year as a new leadership team settles into top positions at the insurer and moves ahead with reforms...
22 March 2021
New Zealand’s Financial Markets Authority is searching for a new CEO to take over from Rob Everett, who has resigned and will leave the regulator towards the end of the year...
15 March 2021
Allianz Australia will complete a series of “transformation programs” to improve its handling of risk maturity, compliance, conduct and culture as part of a court enforceable undertaking with the prudential regulator...
15 March 2021
Consultation papers over the implementation of the deferred sales model for add-on insurance, which will start on October 5, have been released by the Australian Securities and Investments Commission...
15 March 2021
The Australian Financial Complaints Authority has warned financial firms must continue to resolve issues quickly as some customers face increasing pressures with the winding back of Government COVID-19 support measures...
15 March 2021
The Financial Markets Authority has warned companies that they face court action and severe financial penalties for misconduct, after successfully initiating proceedings against ANZ New Zealand...
15 March 2021
The Australian Prudential Regulation Authority has pushed back its timetable for cyber and management liability data collection in response to insurance industry feedback...
08 March 2021
The corporate regulator expects to bill the insurance industry - both general and life - about $16.44 million in funding levies to pay for the cost of its regulatory activities in the last financial year...
08 March 2021
The Australasian Institute of Chartered Loss Adjusters is developing guidelines for members on licensing requirements under new claims handling and settlement legislation passed late last year...
08 March 2021
NSW state-owned insurer icare has reduced the size of its Home Building Compensation Fund panel to nine distributors after completing a tender process...
08 March 2021
The Association of Litigation Funders of Australia has described as “legislative assault” the plans by the Federal Government to permanently ease the disclosure rules for listed companies...
08 March 2021
An independent review into icare has submitted its final report to the state insurer’s board, tabling 76 proposals to strengthen the organisation...
08 March 2021
The Reserve Bank of New Zealand has released revised principles for its Insurance Solvency Standards review that it says are more “fit for purpose” following feedback from the industry and other groups...
01 March 2021
The Australian Securities and Investments Commission will offer immunity to people who inform the regulator about misconduct they have engaged in with others and are prepared to co-operate on investigations and court action...
01 March 2021
The corporate regulator has pressed ahead with criminal proceedings against Allianz and its subsidiary AWP for allegedly making false or misleading statements to customers who were sold travel insurance products between 2016 and 2018...
01 March 2021
The Wivenhoe and Somerset class action has been partially settled for $440 million after a compensation agreement was reached with the Queensland Government and its statutory body, SunWater, law firm Maurice Blackburn announced last week...
01 March 2021
The NSW Personal Injury Commission has officially started operation, creating a new tribunal and “one-stop shop” for disputes related to the workers’ compensation and compulsory third party insurance schemes...
01 March 2021
A detailed study of the ten years since the Canterbury earthquake sequence that devasted New Zealand a decade ago has revealed insurers struggle to accurately estimate claim costs and to quantify uncertainty...