09 November 2020
Consultations have restarted on increasing the transparency of insurance data published by the Australian Prudential Regulation Authority after activity on the issue was suspended in March due to the COVID-19 pandemic...
09 November 2020
The Australian Prudential Regulation Authority plans to collect data on cyber and management liability insurance products following interest from insurers in separate reporting of the information...
02 November 2020
The Australian Securities and Investments Commission has warned insurers and brokers will need to be ready for design and distribution obligations from “day one” following a delay in their introduction due to the COVID-19 pandemic...
02 November 2020
The Administrative Appeals Tribunal has affirmed an Australian Securities and Investments Commission decision to ban an insurance provider who operated without a licence...
02 November 2020
New Zealand private insurers will handle claims for policyholders following natural disasters under a partnership model agreed with the Earthquake Commission to simplify and speed the process...
02 November 2020
Allianz Australia and subsidiary AWP Australia have repaid $10 million to 31,500 customers who were “mis-sold” travel insurance...
02 November 2020
The Australian Prudential Regulation Authority has warned the economic fallout from the coronavirus crisis will continue to pose material risks to the financial services sector including insurance...
26 October 2020
Australian Securities and Investments Commission Chairman James Shipton has stood aside and Deputy Chairman Daniel Crennan has resigned following revelations relating to relocation expenses paid to the pair...
26 October 2020
The Australian Securities and Investments Commission has written to insurance and broking firms advising they should be ready to respond to the outcome of the NSW Court of Appeal business interruption test case...
26 October 2020
The Federal Government’s proposed changes to the insolvency framework, which will commence on January 1 if legislation is passed, could result in an “unprecedented number of possible claim events” for trade credit insurers, Lockton Companies Australia has warned...
26 October 2020
The Australian Securities and Investments Commission has released information sheets on new unfair contract term rules and is undertaking “targeted supervisory work” as it prepares for the start of the controversial laws...
26 October 2020
Australian Prudential Regulation Authority Chairman Wayne Byres says increased funding from this year’s Federal Budget will help boost regulatory oversight in areas including cyber resilience as next year looms as another difficult period following the COVID-19 outbreak..
26 October 2020
The Australian Reinsurance Pool Corporation says its financial performance last year was better than expected due to rate rises in underlying commercial insurance premiums...
26 October 2020
New Zealand’s Commerce Commission is examining Aon’s proposal to acquire Willis Towers Watson after receiving a clearance application...
26 October 2020
The NSW State Insurance Regulatory Authority has extended the consultation period for a review of legal support for injured people accessing compulsory third party insurance...
26 October 2020
Collaboration between regulators and the financial institutions they oversee is critical as economies respond to and recover from the COVID-19 pandemic, the Reserve Bank of New Zealand says...
19 October 2020
Insurance affordability and availability risks are set to rise with more intense and frequent natural disasters, strengthening the economic case for greater investment in mitigation, Australian Prudential Regulation Authority Executive Board Member Geoff Summerhayes says...
19 October 2020
The NSW State Insurance Regulatory Authority has taken action to ensure employers are not operating without workers’ compensation cover...
19 October 2020
The Australian Prudential Regulation Authority has stepped up its focus on general insurers in response to the economic fallout from COVID-19 and last summer’s natural disasters, the regulator says in its 2019/20 annual report...
19 October 2020
The Australian Financial Complaints Authority has warned that a temporary time extension for handling complaints during the COVID-19 pandemic is set to come to an end...