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Regulatory & Government

Weather changes 'loading the dice' for bushfire risk

25 May 2020

Climate change and drier weather conditions are "loading the dice" as Australia’s bushfire risk increases, a Bureau of Meteorology scientist told the Royal Commission into National Natural Disaster Arrangements today...

'All hands on deck' virus response delaying APRA agenda

25 May 2020

Australian Prudential Regulation Authority Chairman Wayne Byres says much of the planned policy and supervisory agenda for this year is likely to be pushed into 2021 as the COVID-19 response requires "all hands on deck"...

Government acts to oversee litigation funders

25 May 2020

Class action litigation funders will come under increased regulatory scrutiny following a Federal Government decision requiring that they hold an Australian Financial Services Licence...

Home cyclone defence project gains extra funding

25 May 2020

A Queensland cyclone resilience program that has strengthened more than 1700 homes and reduced premiums will receive an extra $21.25 million in a funding extension supported by insurers and brokers...

ASIC maintains focus on credit insurance

18 May 2020

The Australian Securities and Investments Commission says it is continuing to investigate the suspected misconduct of "several entities" involved in the consumer credit insurance market, with a view to taking enforcement action...

icare's active claims continue to drop

18 May 2020

NSW state-insurer icare says the number of active workers’ compensation insurance claims has continued to decline after rising last year amid a technology upgrade and an adjustment in weekly payments...

ASIC delays product design rule reforms by six months

11 May 2020

The Australian Securities and Investments Commission will delay the start of product design and distribution rules by six months following the Federal Government’s decision to defer the implementation of Hayne royal commission reforms...

NSW building inquiry targets cladding in final report

11 May 2020

A NSW Upper House inquiry into the state’s troubled building industry has made 22 recommendations in its final report, including 11 that outline how the Government should handle the flammable cladding crisis...

Slavery reporting deadline extended for companies

11 May 2020

The Federal Government has given companies including insurers a three-month deadline extension for reporting on actions to address modern slavery risks, while calling for increased vigilance on the issue during the COVID-19 pandemic...

SIRA draft standard seeks fast COVID-19 responses

11 May 2020

The NSW State Insurance Regulatory Authority wants insurers working within the state’s workers’ compensation scheme to be "flexible and adaptable" in handling claims involving healthcare workers suffering from COVID-19...

Workers’ comp schemes clarify JobKeeper payment status

11 May 2020

Workers’ compensation scheme regulators in NSW, Victoria, Queensland and SA have provided clarity on the status of payments received from the $130 billion JobKeeper wage subsidy program, Willis Towers Watson says...

ASIC flags intention to collect COVID claims data

04 May 2020

The Australian Securities and Investments Commission has flagged its intention to collect data on insurance claims related to the coronavirus outbreak once immediate pressures subside...