icare return to work rate declines, liability decisions improve
06 April 2020
NSW state insurer icare says its 26-week return to work rate saw a slight decline at the end of last year while the pace of liability decisions has improved...
Regulatory & Government
Industry urges NSW to scrap ESL
06 April 2020
The NSW Government has again been urged to reconsider funding the state’s emergency services via a broad property-based levy...
Building guidelines support continuation of catastrophe repairs
06 April 2020
New guidelines set by the housing industry body will enable insurers to continue with ongoing repairs and rebuilding of insured properties, the Insurance Council of Australia says...
Pragmatism rules at ASIC over AGM changes
30 March 2020
Arrangements and management of AGMs is usually carefully monitored by government regulators, but the Australian Securities and Investments Commission says it is being "flexibly pragmatic" in light of the coronavirus crisis...
Bushfire inquiry seeks digital solution for feedback
30 March 2020
The first hearing for the bushfire royal commission, originally scheduled to take place in Canberra on Tuesday, has been delayed to minimise the risk of exposure to coronavirus...
icare says premiums to adjust to wage changes
30 March 2020
NSW state insurer icare has warned that injured workers wanting to return to work may find accessing medical treatment and support is "strained" as Australia’s health system battles the COVID-19 outbreak...
Keep your distance: SIRA allows telephone consultations
30 March 2020
Consultations between injured workers and health service providers can be conducted by telephone under new rules from the NSW regulator to foster social distancing and relieve pressure on the health system...
AFCA sets up COVID-19 hotline, information hub
30 March 2020
The Australian Financial Complaints Authority has set up a support hotline to ensure priority service is provided for those impacted by the COVID-19 pandemic...
NZ delays start of new financial advice regime until 2021
30 March 2020
A new financial advice regime to be introduced in New Zealand has been postponed until next year as advisers battle volatile financial markets caused by the COVID-19 outbreak...
Regulators fix their focus on COVID-19
23 March 2020
Australia’s corporate and prudential regulators announced today they will adjust their regulatory efforts to focus on the challenges of the coronavirus pandemic...
APRA steps up scrutiny in response to pandemic
23 March 2020
The Australian Prudential Regulation Authority questioned insurers about their pandemic business continuity plans in early February and has more recently requested an update...
AFCA responds to 'extraordinary times'
23 March 2020
The Australian Financial Complaints Authority has adjusted its complaint resolution processes, saying it will tailor support and may allow firms more time to respond as they battle the fallout from the COVID-19 pandemic...
APRA's data transparency plan meets resistance
23 March 2020
The Insurance Council of Australia is concerned plans by the prudential regulator to increase the transparency of published data could lead to a "weakening of competition and greater concentration" in certain product classes...
Bushfire royal commission hearing set for next week
23 March 2020
A ceremonial hearing for the bushfire royal commission will be held in Canberra on Friday next week ahead of formal hearings in April...
Unfair contracts: industry concerned over protection plan
23 March 2020
The Insurance Council of Australia is concerned over Treasury’s proposed measures to enhance existing unfair contract terms protections for small businesses...
Constructive approach sought on product rules enforcement
23 March 2020
The Insurance Council of Australia has suggested the regulator should avoid a “hard-line” enforcement approach to new product design and distribution obligations when they first come into effect...
AFCA reveals cost of dispute intervention
16 March 2020
The Australian Financial Complaints Authority received 7114 complaints against general insurers in the second half of last year, while $23.9 million in compensation was paid to complainants...
ACT builders' warranty scheme faces potential class action
16 March 2020
NSW-based property specialist Kerin Benson Lawyers says it is investigating a potential class action against the trustees of the ACT’s Master Builders Fidelity Fund Scheme...
icare underpayments may have totalled $40 million
16 March 2020
Underpayments of statutory benefit entitlements to workers by NSW state insurer icare are estimated to have totalled as much as $40 million...
Former QBE COO becomes APRA executive director
16 March 2020
The Australian Prudential Regulation Authority has appointed Renee Roberts as Executive Director of its Policy and Advice Division...