ICA content with ASIC levy calculations
01 April 2019
The Insurance Council of Australia has “no issue” with Australian Securities and Investments Commission estimated sector levies published under its new industry funding regime…
Regulatory & Government
Insurers join sustainable finance group
01 April 2019
Senior executives from insurance companies, banks and other organisations have joined a new sustainable finance group to plan for climate change risks and other social and environmental issues…
Roma flood defences reach next level
01 April 2019
Roma in southwest Queensland officially opened the second phase of its flood mitigation scheme last week…
APRA consults on guide to cyber defences
01 April 2019
The Australian Prudential Regulation Authority is accelerating implementation of a new information security standard amid a growing threat to the financial sector…
ICA warns on coverage under child abuse compo reform
01 April 2019
Childcare organisations already regarded as high underwriting risks face a rising premium burden under reforms to improve access to compensation for sexual abuse survivors, the Insurance Council of Australia says…
ACT calls for feedback on bushfire plan
01 April 2019
The ACT is seeking stakeholder and public input on its Strategic Bushfire Management Plan, which is reviewed every five years…
ACC plugs into tech platform
01 April 2019
New Zealand’s Accident Compensation Corporation is partnering with an innovation platform to access global insurtechs that can help improve its services…
Rehab providers seek NSW workers' comp reform
01 April 2019
The NSW Government has been urged to mandate rehabilitation referrals for employees not likely to return to work within four weeks…
ICA renews call to Berejiklian on mitigation, taxes
25 March 2019
The Insurance Council of Australia has called on the re-elected NSW Coalition to protect flood-prone towns through disaster mitigation and to abolish the emergency services levy and insurance stamp duties…
Claims reform may ‘end cash settlements’
25 March 2019
Post-disaster cash settlements could become a thing of the past after a Treasury consultation on removing the claims handling exemption from the financial services definition…
Insurers raising their game on climate risks
25 March 2019
A regulator’s survey shows general insurers are increasing their understanding of and response to financial risks from climate change, while most life insurers are sitting idle on the threat…
ACT injury scheme reform splits industry, lawyers
25 March 2019
Suncorp and IAG have welcomed the ACT’s shift to a no-fault compulsory third party scheme, but lawyers say reforms introduced in the Legislative Assembly mainly benefit insurers…
Federal Court wins funding for corporate crime operation
25 March 2019
The Morrison Government will give $35 million to the Federal Court so it can begin to prosecute corporate crime…
APRA flags changes to prudential framework
25 March 2019
The Australian Prudential Regulation Authority plans changes to the prudential framework to implement a cross-industry appointed actuary standard…
NZ’s contentious fire levy to get a ‘clean-slate’ review
18 March 2019
The New Zealand Government plans to issue a discussion paper that may lead to removal of the controversial insurance-based fire and emergency services funding levy…
Consultation begins on code enforcement
18 March 2019
Treasurer Josh Frydenberg has issued a consultation paper on the controversial Hayne royal commission recommendation to make parts of industry codes of conduct enforceable by law…
IAG supports motor repair information sharing
18 March 2019
IAG has backed a proposed Australia-wide mandatory scheme for the sharing of motor vehicle service and repair information…
Warming poses threat to ‘coverage, financial stability’
18 March 2019
Climate change-fuelled extreme weather events may affect “access to insurance”, Reserve Bank of Australia Deputy Governor Guy Debelle warns…
APRA review panel outlines key issues
18 March 2019
Treasury has released terms of reference for a capability review of the Australian Prudential Regulation Authority…
State to help flood-hit business owners
18 March 2019
Recovery efforts are continuing in flood-stricken Townsville, with the Queensland Government sending outreach teams to help businesses in the area with financial matters including insurance…