NSW workers’ comp review ‘an important step’
10 August 2020
The State Insurance Regulatory Authority says a review of icare by retired Supreme Court judge Robert McDougall will be an important opportunity to consider the performance of the scheme...
Regulatory & Government
APRA to resume consultations and issue new insurance licences
10 August 2020
Public consultations on key policy areas such as insurance capital reforms, suspended since late March because of the pandemic, will resume, the Australian Prudential Regulation Authority announced today...
APRA watching for 'severe stress' as crisis drags on
10 August 2020
Australian Prudential Regulation Authority Chairman Wayne Byres has warned the worst from the pandemic is not over, revealing it remains on the alert for potential “severe stress” on the insurance and broader financial services sector...
ASIC product intervention submissions window closing
10 August 2020
Stakeholders have been invited to provide feedback on proposed product intervention measures relating to add-on insurance sold with motor vehicles by August 19...
NSW to set up new injury scheme complaints body
10 August 2020
Dispute resolution for the NSW workers’ compensation and compulsory third party schemes will be handled by a single tribunal in a change to simplify the system...
AFCA appoints head of membership services
10 August 2020
The Australian Financial Complaints Authority has appointed Campbell Daff to the newly created position of Head of Membership Services...
SIRA CEO condemns icare at NSW Parliamentary inquiry
03 August 2020
State Insurance Regulatory Authority CEO Carmel Donnelly has condemned the performance of icare in an appearance before a NSW Parliamentary inquiry and says she is concerned over the lack of progress on an action plan set out last year to improve performance...
ICA renews push for tax reform
03 August 2020
The Insurance Council of Australia says tax reform will help consumers as the nation’s economy adjusts to the impact of COVID-19...
ASIC demands faster complaints handling
03 August 2020
The Australian Securities and Investments Commission will require faster handling of consumer complaints under new rules that also demand proactive responses to issues raised on companies’ social media sites...
Industry pushes for reform of class action laws
03 August 2020
The insurance industry has made its case before a parliamentary inquiry into the class action system, pushing for reforms to arrest the sharp escalation in directors’ and officers’ premiums...
APRA drops blanket advice to defer dividends
03 August 2020
The Australian Prudential Regulation Authority has written to insurers to update its capital management guidance, easing restrictions around paying dividends...
Government extends pre-budget input
03 August 2020
The Federal Government has extended the deadline for submissions from individuals, businesses and community groups on priorities for the 2020-21 Budget...
SIRA conducts customer experience survey
03 August 2020
The NSW State Insurance Regulatory Authority is seeking customer feedback on the state’s workers’ compensation, compulsory third party and home building compensation insurance schemes...
NZ regulator lists priority COVID risks
03 August 2020
New Zealand’s Financial Markets Authority has outlined six priorities for the next three to six months as it continues to respond to COVID-19 issues...
icare review to improve vulnerable customer support
27 July 2020
NSW state insurer icare aims to improve its support of vulnerable customers through an upcoming review...
Bushfire inquiry deadline extended to October
27 July 2020
The Royal Commission into National Natural Disaster Arrangements will deliver its findings on October 28 after being granted a two-month extension...
APRA extends capital guidelines for rest of 2020
27 July 2020
The Australian Prudential Regulation Authority will this week update its capital management guidance for insurers, extending special COVID guidelines it issued in April to the end of the year, though making the rules more “flexible.”..
‘Save CTP’ campaign underway in Queensland
27 July 2020
Lawyers and unions have kicked off a “Save our CTP” campaign in Queensland and are seeking support from politicians to prevent changes to the state’s compulsory third party insurance scheme after the next election...
ACT cracks down on ‘shifty’ construction work
27 July 2020
A new team of government building certifiers in the ACT will break the link between building firms and inspectors in a further crackdown on “dodgy” property developers...
Industry pushes for bushfire risk rating transparency
20 July 2020
Greater access to bushfire attack level ratings could help tackle the underinsurance problem in at-risk areas, industry representatives have told a Senate inquiry...