Facebook probe threatens insurance data: ICA
18 February 2019
The Australian Competition and Consumer Commission has been warned its inquiry into the market power of Facebook and Google could harm the insurance industry…
Regulatory & Government
Tougher misconduct penalties move a step nearer
18 February 2019
New legislation will significantly increase criminal and civil penalties for corporate and financial sector misconduct…
EQC building cap raised
18 February 2019
The New Zealand Earthquake Commission’s cap for residential building cover will increase from $NZ100,000 to $NZ150,000 later this year…
Australia gains top score on driverless car regulations
18 February 2019
Australia has gained the top score for regulations supportive of autonomous vehicles, but ranks 15th overall on a global KPMG readiness index…
ICNZ renews push for action on climate crisis
18 February 2019
The Insurance Council of New Zealand has again called for more funding of mitigation measures as climate change increasingly produces erratic and extreme weather events…
Ministers back combustible cladding ban
11 February 2019
Building ministers at federal and state levels have agreed in principle to ban “unsafe” combustible cladding materials in new construction projects…
ICA calls for uniform surveillance framework
11 February 2019
The Insurance Council of Australia has urged Queensland to work within a national program to streamline privacy and surveillance legislation…
Panel to probe APRA’s ‘readiness to respond’
11 February 2019
A review of the Australian Prudential Regulation Authority’s capability will start next month and report to the Government by June 30…
AFCA names small business disputes head
11 February 2019
The Australian Financial Complaints Authority has appointed a Lead Ombudsman for Small Business…
Accounting rule creates ‘interpretation’ hurdles
11 February 2019
A new accounting standard for insurance contracts poses “numerous issues with interpretation”, the Insurance Council of Australia says…
ICA meets Treasury over NSW fire levy spike
04 February 2019
The Insurance Council of Australia is in talks with NSW Treasury over a surge in the emergency services levy over the next two years…
Canberra to ‘further engage’ on class action reforms
04 February 2019
The Federal Government will consult on “complex issues” raised in an Australian Law Reform Commission report proposing changes to the class action regime…
Treasury consults on disclosure
04 February 2019
The general insurance industry has until the end of this month to respond to a Treasury discussion document on improving disclosure in general insurance…
Review wants ASIC to form name, shame and punish unit
04 February 2019
A new enforcement unit has been proposed as a way of improving the Australian Securities and Investments Commission’s policing of white-collar crime and misconduct…
ICA makes contract terms call for marine cover
04 February 2019
Marine contracts should be included in Canberra’s plans to extend unfair contract terms protection legislation to the sector, the Insurance Council of Australia says…
NSW regulator backs driverless car benchmarks
04 February 2019
The NSW State Insurance Regulatory Authority says introducing minimum national benchmarks could help provide consistency in covering accidents involving driverless cars…
ARPC secures $3 billion reinsurance
04 February 2019
The national terrorism insurance scheme administrator has renewed its retrocessional reinsurance program for this year…
NSW Treasurer hits back after workers' comp criticism
10 December 2018
NSW Treasurer Dominic Perrottet has defended the state’s reformed workers’ compensation scheme following criticism from businesses.…
Building report calls for mandatory recall insurance
10 December 2018
A Senate inquiry report has called for mandatory product recall insurance for high-risk building products to be considered…
Berkshire Hathaway to manage SA CTP claims book
10 December 2018
Berkshire Hathaway will take over management of the SA Motor Accident Commission claims back book after making an unsolicited offer to the Government…