Rehab providers seek NSW workers' comp reform
01 April 2019
The NSW Government has been urged to mandate rehabilitation referrals for employees not likely to return to work within four weeks…
Regulatory & Government
ICA renews call to Berejiklian on mitigation, taxes
25 March 2019
The Insurance Council of Australia has called on the re-elected NSW Coalition to protect flood-prone towns through disaster mitigation and to abolish the emergency services levy and insurance stamp duties…
Claims reform may ‘end cash settlements’
25 March 2019
Post-disaster cash settlements could become a thing of the past after a Treasury consultation on removing the claims handling exemption from the financial services definition…
Insurers raising their game on climate risks
25 March 2019
A regulator’s survey shows general insurers are increasing their understanding of and response to financial risks from climate change, while most life insurers are sitting idle on the threat…
ACT injury scheme reform splits industry, lawyers
25 March 2019
Suncorp and IAG have welcomed the ACT’s shift to a no-fault compulsory third party scheme, but lawyers say reforms introduced in the Legislative Assembly mainly benefit insurers…
Federal Court wins funding for corporate crime operation
25 March 2019
The Morrison Government will give $35 million to the Federal Court so it can begin to prosecute corporate crime…
APRA flags changes to prudential framework
25 March 2019
The Australian Prudential Regulation Authority plans changes to the prudential framework to implement a cross-industry appointed actuary standard…
NZ’s contentious fire levy to get a ‘clean-slate’ review
18 March 2019
The New Zealand Government plans to issue a discussion paper that may lead to removal of the controversial insurance-based fire and emergency services funding levy…
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…
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…