Canberra revises flood risk mapping
10 December 2018
A Canberra flood mapping overhaul has updated the risk assessment for a one-in-100 year event, reducing uncertainty and allowing insurers to fine-tune premiums…
Regulatory & Government
EML secures ACT workers’ comp deal
10 December 2018
EML will provide workers’ compensation services for the ACT Government’s self-insurance program under a four-year deal signed last week…
Exclusions, conditions drive early AFCA complaints
10 December 2018
Claim denials due to exclusions and conditions topped the list of general insurance matters reported to the Australian Financial Complaints Authority in its first month of operation…
icare funds wheelchair tech
10 December 2018
State insurer icare is funding an innovative sensor-app platform to improve life for NSW wheelchair users…
NSW ESL reform ‘likely to return’
03 December 2018
Reforms to the NSW emergency services levy on insurance are likely to return, according to a new report…
ACCC submits northern Australia report
03 December 2018
The Australian Competition and Consumer Commission has submitted an interim report from its northern Australia insurance inquiry to the Federal Government, a spokeswoman has confirmed…
WA wants national smash repair probe
03 December 2018
MPs in WA have called for an Australian Competition and Consumer Commission inquiry into claims of “market abuse” involving insurers in the smash repair industry…
Storms, fires ‘show danger of climate inaction’
03 December 2018
Failure to act on climate change will cost Australia dearly as droughts, flooding and other natural disasters become more frequent and intense, a new report says…
icare opens dust disease testing centre
03 December 2018
State insurer icare has opened a dust disease clinic for NSW workers exposed to hazardous airborne material…
Insurers complete transition to AFCA
03 December 2018
All insurers that were members of the Financial Ombudsman Service have successfully shifted to the Australian Financial Complaints Authority, a spokeswoman for the new dispute body says…
CBA faces new wave of credit cover remediation
26 November 2018
Commonwealth Bank is still processing remediation for customers mis-sold consumer credit insurance and is reviewing an EY paper that may lead to further payments, the Hayne royal commission heard last week…
ASIC weighs action on CBA, ClearView breaches
26 November 2018
The Australian Securities and Investments Commission has flagged enforcement action against Commonwealth Bank and ClearView as it takes a tougher approach to breaches…
NSW spends $40 million on climate risk measures
26 November 2018
The NSW Government is to invest $40 million on climate change measures including action to improve community disaster resilience…
States to apply automated vehicle safety system
26 November 2018
State transport ministers will apply a safety assurance system to all imported automated vehicles, the National Transport Commission has announced…
NSW greenslip prices hit seven-year low
26 November 2018
NSW compulsory third party premiums will fall to an average of $501 next year, the lowest since 2011…
Canberra relaxes foreign ownership laws
26 November 2018
Foreign companies can now own more than 20% of a local insurer after legislation was passed relaxing restrictions…
RBNZ amends insurance solvency standards
26 November 2018
The Reserve Bank of New Zealand has amended general and life insurance solvency standards…
Backing for contract terms reform as Hayne reopens
19 November 2018
Policy submissions to the Hayne royal commission have shown “substantial agreement” on extending unfair contract terms to insurance and introducing disclosure reforms, Counsel Assisting, Rowena Orr, told the opening of the final round of hearings today…
IAG steps up to protest ‘unfair’ CTP proposals
19 November 2018
IAG has taken an unusual step for an insurer by warning against ACT compulsory third party (CTP) draft laws that may make it more difficult for low-income earners to have their injuries independently assessed…
IASB mulls delay on accounting standard
19 November 2018
The start date for a new insurance accounting standard may be deferred by a year pending the outcome of a public consultation, which is expected next year…