Key facts sheets may be extended: Treasury
03 September 2018
The insurance industry is questioning Federal Government plans to extend the controversial key facts sheet regime beyond home insurance policies…
Regulatory & Government
Queensland tests WorkCover claims scheme
03 September 2018
WorkCover Queensland is piloting a new approach to managing workplace injury claims, under a drive to achieve better return-to-work outcomes…
ICNZ welcomes regulator’s pragmatism
03 September 2018
The Insurance Council of New Zealand has welcomed the central bank’s accommodating approach to industry concerns over insurance solvency standards and lease requirements…
APRA to widen risk supervision
03 September 2018
The Australian Prudential Regulation Authority will broaden its risk-based supervision to cover threats that could affect financial system stability…
WA motor injury scheme records profit
03 September 2018
The WA Insurance Commission’s Motor Vehicle Fund, which backs the state’s catastrophic injuries support program, recovered from a large loss to hit the black last financial year…
Frydenberg adds to ASIC team
03 September 2018
Tabcorp Group General Counsel Sean Hughes and former Equipsuper CEO Danielle Press have been appointed full-time members of the Australian Securities and Investments Commission, on five-year terms…
APRA issues reporting guidance
03 September 2018
The Australian Prudential Regulation Authority has provided general insurers with guidance for reporting large exposures on forms GRF 117.0 and GRF 117.0…
Portfolio goes missing in ministry shuffle
27 August 2018
The Coalition Government seems to have dropped the financial services portfolio from its ministerial line-up…
Fels hits back at ICA
27 August 2018
NSW Emergency Services Levy Insurance Monitor Allan Fels has hit back at the Insurance Council of Australia’s call for a rethink of his role…
icare recruits in-house claims team
27 August 2018
Insurance & Care NSW is recruiting a 30-strong workers’ compensation claims team to offer an enhanced service for customers…
ICA offers alternative to unfair contract terms model
27 August 2018
The Insurance Council of Australia has offered a counter-proposal to Canberra’s plans to extend unfair contract terms legislation to the sector…
NZ compensates uninsured residents
27 August 2018
The New Zealand Government will pay about $NZ12 million to uninsured former Christchurch “red-zone” residents…
ASIC sets deadline for submitting business info
27 August 2018
Insurers, compliance officers and registered agents need to submit details of their operations to the Australian Securities and Investments Commission by September 27…
Defective products harming 10 people a day
27 August 2018
About half of Australian households are exposed to faulty products, the Australian Competition and Consumer Commission warns…
O’Dwyer unveils new financial literacy program
27 August 2018
The Government has launched the National Financial Capability Strategy, which aims to improve Australians’ understanding of money matters and help them make informed decisions…
Insurers back class action reform
20 August 2018
Insurers have pushed for litigation funder licensing and other changes to the class action regime in submissions to an Australian Law Reform Commission inquiry…
Builder ‘broke law’ over cladding
20 August 2018
A director of building firm LU Simon broke the law by installing flammable cladding on the Lacrosse apartments in Melbourne, the Building Practitioners Board has found…
Policymakers push for cladding standard
20 August 2018
Ministers have asked Standards Australia to develop an Australian Standard for permanent labelling of aluminium composite panels…
ICA raises concern over distribution bill
20 August 2018
The Insurance Council of Australia remains sceptical that the Treasury’s revised draft product design and distribution bill can be applied to the industry…
Coalition silent as senators split on climate change
20 August 2018
A Senate committee tasked with reviewing climate change impacts has failed to find common ground on an action plan…