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…
Regulatory & Government
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…
NZ central bank prepares for actuary probe
18 March 2019
The Reserve Bank of New Zealand will hold feedback forums next month to prepare for its planned thematic review of the appointed actuary regime…
ICA, NIBA support standard cover overhaul
11 March 2019
Insurers and brokers have supported an overhaul of the standard cover regime as part of measures to assist consumers in buying the most suitable policies…
ASIC eyes travel cover review
11 March 2019
The Australian Securities and Investments Commission is considering a review of travel insurance in response to the level of complaints made by consumers…
Labor vows to create NSW strata commissioner
11 March 2019
NSW Labor says it will appoint a strata commissioner to advocate for apartment owners and residents on building defect issues if it wins the state election…
UK regtech targets Australia
11 March 2019
London-based regtech Recordsure is teaming up with KPMG to offer its suite of artificial intelligence-driven solutions to Australian financial institutions including insurers…
WA picks site for bushfire training facility
11 March 2019
An $18 million bushfire training and research facility serving WA will be built about 72km south of Perth…
Treasury starts claims handling consultation
04 March 2019
A Treasury consultation paper proposes a two-pronged approach to making claims handling subject to Corporations Act requirements for financial services to be delivered efficiently, honestly and fairly…
Actuaries, local government renew mitigation calls
04 March 2019
The Actuaries Institute and Australian Local Government Association have pressed the case for increased mitigation spending in their pre-federal budget submissions, while insurance groups have this year opted out of the process…
ASIC slaps life ban on Sydney broker
04 March 2019
Former Sydney insurance broker James Sheehan has been permanently banned from the financial services industry for cheating clients out of more than $300,000…
Lacrosse payout ‘a game-changer’
04 March 2019
A ruling awarding more than $5.7 million to apartment owners hit by a flammable cladding-fuelled fire has been praised for “holding the [building] industry to account”…
Get tougher on dangerous cladding, UK expert warns
04 March 2019
A leading building engineer says replacing non-compliant cladding on residential properties in Victoria should be a priority…
ASIC to report on fraud investigations
04 March 2019
The Australian Securities and Investments Commission will publish a research report on the way insurers handle suspected fraud, after finding many cases of legitimate claims being investigated…
Disclosure rules require script changes: Clyde & Co
25 February 2019
Personal lines insurers should start looking at changes needed to meet disclosure obligation reforms recommended by the Hayne royal commission, law firm Clyde & Co says…
Frydenberg tells ICA to act on code changes
25 February 2019
Treasurer Josh Frydenberg has called on the Insurance Council of Australia to prioritise code of practice changes recommended by the Hayne royal commission…
Canberra to consult on claims exemption
25 February 2019
A consultation paper on removing the insurance claims handling exemption from the financial service definition is to be released this week as part of the Government’s response to the Hayne royal commission’s recommendations…