Businesses pay high price as scammers set record
29 April 2019
Australian businesses lost $60 million through scams last year, according to the Australian Competition and Consumer Commission…
Regulatory & Government
NZ consults on builders’ warranty cover
29 April 2019
Major changes to New Zealand’s building laws are being considered, including requiring builders to offer insurance to homeowners…
‘Less patient’ APRA adopts tougher stance
29 April 2019
The Australian Prudential Regulation Authority will be “less patient” with financial services groups – including insurers – that refuse to co-operate with it…
Property group joins call for cladding register
29 April 2019
The Australian Property Institute has backed calls for a public register to improve transparency around buildings affected by the flammable cladding crisis…
Broker jailed for taking customers’ cash
15 April 2019
Former Phoenix Insurance broker Sergio Amaranti has been jailed for two years and nine months after diverting client refunds totalling about $200,000 to his own accounts…
ICA warns of repairer exodus under claims reform
15 April 2019
Builders, smash repairers and other suppliers may withdraw their services if claims handling regulatory reforms are applied too broadly, the Insurance Council of Australia warns…
Fels maintains push for premium details disclosure
15 April 2019
Providing details of the components that determine premiums will improve transparency and enable consumers to understand what policies cover, NSW Emergency Services Levy Insurance Monitor Allan Fels says…
AFCA consults on naming and shaming
15 April 2019
The Australian Financial Complaints Authority will “run a limited consultation” with stakeholders on its plan to reveal the names of businesses involved in consumer disputes…
Queensland unveils floodplain management plan
15 April 2019
Queensland has introduced a long-term flood resilience plan, building on work undertaken since the 2011 Brisbane floods…
EQC inquiry calls for submissions
15 April 2019
Earthquake Commission public inquiry chairman Silvia Cartwright has called for submissions on ways to improve the state-owned insurer’s response to natural disasters…
APRA calls for industry leadership on compliance
15 April 2019
The Australian Prudential Regulation Authority has called on the general insurance industry to show “greater leadership” in responding to consumer concerns…
ASIC lays fewer charges
15 April 2019
The number of charges laid in criminal cases brought by the Australian Securities and Investments Commissions plunged in the second half of last year…
Comcare names new CEO
15 April 2019
The Federal Government has appointed Sue Weston as Comcare CEO for a five-year term…
WA workers’ comp rates increase 3.7%
15 April 2019
WA workers’ compensation premiums are set to increase 3.7% on average next financial year…
ICA to meet ASIC over product law fears
08 April 2019
The Insurance Council of Australia will voice its concerns over new product design and distribution laws to the Australian Securities and Investments Commission…
Industry attacks ‘short-sighted’ budget over mitigation spend
08 April 2019
The Morrison Government’s budget has left the industry fuming at a lack of new mitigation spending, despite repeated pleas for investment in disaster-prone areas…
Frydenberg acts to mandate AFCA co-operation
08 April 2019
Businesses failing to co-operate with the Australian Financial Complaints Authority may face civil penalties under regulatory changes made by the Federal Government…
Four charged over alleged CTP fraud ring
08 April 2019
Investigations into an alleged NSW compulsory third party fraud syndicate continue, with four more people arrested and charged…
ASIC, UK regulator agree on post-Brexit ties
08 April 2019
The Australian Securities and Investments Commission and its UK counterpart have agreed on ways to support post-Brexit bilateral co-operation…
Consumer data right draft rules published
08 April 2019
The Australian Competition and Consumer Commission is seeking company feedback on consumer data right draft rules published last week…