NSW, Queensland relax PI conditions for surveyors
08 July 2019
Building certifiers and surveyors in Queensland and NSW have been granted temporary exemptions to practice with cladding exclusions on their professional indemnity cover...
Regulatory & Government
Hostile investigators ‘kill legitimate car claims’
08 July 2019
The corporate regulator has warned legitimate car insurance claims are being withdrawn due to hostile claims investigation practices...
RBNZ accepts findings of CBL review
08 July 2019
The Reserve Bank of New Zealand has acknowledged being overly lenient in its handling of failed insurer CBL and admits it should have acted more urgently in addressing concerns...
Inquiry targets building industry regulation
08 July 2019
A NSW parliamentary committee will examine insurance arrangements as part of an inquiry into the troubled building industry, with plans to produce a final report by February...
EQC inquiry hears from insurers, consumers
08 July 2019
New Zealand’s Earthquake Commission public inquiry is engaging with insurers to discuss the future of the private market and how insurers can scale up to meet natural disaster costs...
Ex-ACCC legal adviser returns as Commissioner
08 July 2019
Treasurer Josh Frydenberg has appointed Stephen Ridgeway as an Australian Competition and Consumer Commission Commissioner for a term of five years...
ASIC chief flags court action on ‘wrongdoers’
01 July 2019
Insurers that mis-sell products to vulnerable customers will face court after the Australian Securities and Investments Commission (ASIC) warned it will use litigation to crack down on concerning industry practices...
Choice weighs in on ASIC product powers
01 July 2019
Choice wants the Australian Securities and Investments Commission to use its new product intervention powers to curb sales of “outright rip-offs” such as consumer credit insurance, funeral insurance and “tricky” life insurance policies...
Industry rebukes Fels’ fresh ‘loyalty tax’ claims
01 July 2019
The Insurance Council of Australia has rejected NSW Emergency Services Levy Insurance Monitor Allan Fels’ latest claim that premium discounts are a “deceptive loyalty tax” insurers employ to attract new customers...
APRA publishes guidance on cyber security
01 July 2019
The Australian Prudential Regulation Authority has released updated guidance on managing cyber crime and other information security risks...
Building reform paper flags insurance requirement
01 July 2019
The NSW Government has released a discussion paper seeking feedback on its proposals to reform the building industry...
Industry told to step up on climate risk analysis
24 June 2019
The insurance industry has been urged to play a leading role in capturing data to show how the costs of transitioning to a low-carbon economy will evolve...
Cyclone-prone communities gain $100 million infrastructure fund
24 June 2019
The Federal and Queensland governments have agreed on a $100 million fund to repair and build resilient roads and other public infrastructure in the cyclone-prone northern region...
AR banned over factory fire claim
24 June 2019
A Victorian authorised representative has been permanently banned from the financial services industry for dishonest conduct...
Add-on cover refunds pass $130 million
24 June 2019
The Australian Securities and Investments Commission has announced further repayments of $14.7 million for consumers sold “worthless” add-on insurance cover at car yards...
ASIC gives AFCA the nod on legacy complaints
24 June 2019
The Australian Securities and Investments Commission has approved rule changes that allow the Australian Financial Complaints Authority to investigate matters dating back to 2008...
$8.6b burden: NSW insurance taxes keep growing
24 June 2019
The NSW Government will reap $8.6 billion from insurance taxes and levies over the next four years, the latest state budget shows...
SA rakes in more insurance taxes
24 June 2019
The SA Government expects to collect $486.3 million in insurance taxes this financial year, up 5.7% on the previous year, state budget figures released last week show...
ARPC audit suggests alternatives to premium rises
24 June 2019
An Australian Reinsurance Pool Corporation audit has suggested examining options to minimise premium rises if there is a need to rebuild capital after a terrorist attack...
Tribunal to hear Canterbury quake claim disputes
24 June 2019
New Zealand has created an insurance tribunal to resolve outstanding claims relating to the 2010/11 Canterbury earthquakes, providing $NZ3.39 million in funding...