Canberra extends unfair contract terms consultation
16 July 2018
The Federal Government has extended a deadline for submissions on controversial proposals to make insurance subject to unfair contract terms legislation…
Regulatory & Government
ACCC chief Sims warns on corporate misbehaviour
16 July 2018
Australian Competition and Consumer Commission Chairman Rod Sims says companies too often behave badly and regulators must act to reveal and avert actions that harm customers…
SA council body revamps insurance scheme oversight
16 July 2018
The Local Government Association of SA has established a subsidiary to oversee its insurance schemes, following an Auditor-General’s report recommending changes…
ACCC to consult on consumer data right
16 July 2018
A consultation paper on rules for the proposed consumer data right program will be released next month…
NZ accident scheme tests automated claims process
16 July 2018
New Zealand’s Accident Compensation Corporation expects faster processing of simple claims when a new system is introduced later this year…
NT reviews WorkSafe practices
16 July 2018
The NT Government has begun a six-month review of workplace regulator WorkSafe…
Indigenous customers ‘being fleeced by funeral insurers’
09 July 2018
Some indigenous customers of funeral insurers have been paying for up to five insurance policies for their families, according to the indigenous representative body National Congress…
NSW injury tribunal plan worries icare
09 July 2018
NSW Government-owned Insurance & Care has expressed concerns over a parliamentary committee’s suggestion to set up a personal injury tribunal to oversee disputes in compulsory third party and workers’ compensation…
Brokers warned to take care with ‘independent’ wording
09 July 2018
Brokers have been urged to be careful about using the word “independent” after the Australian Securities and Investments Commission rebuked four financial advice firms for misleading consumers…
Asbestos health fallout inflicts huge economic toll
09 July 2018
Asbestos-related diseases continue to impose a “substantial burden” on the economy, the Asbestos Safety and Eradication Agency says in an executive summary report…
Commission submits competition report to Government
09 July 2018
The Productivity Commission has handed its final report on competition in the financial system to the Federal Government, with add-on insurance, lenders’ mortgage cover and state-based taxes expected to feature…
Guide advises on bushfire ember attacks
09 July 2018
The Victorian Building Authority has published a guide on how to retrofit public buildings to guard against bushfire ember attack…
NZ central bank consults on solvency standards
09 July 2018
The Reserve Bank of New Zealand is seeking feedback on proposed changes to the insurance solvency standards for a new class of assets and liabilities that have arisen from a new accounting standard for lease contracts…
ICA challenges unfair contract terms plan
02 July 2018
The Insurance Council of Australia says a proposed model for extending unfair contract terms to the sector would have a major impact on premiums and the scope of cover offered…
Royal commission delays Suncorp, Youi evidence
02 July 2018
The Hayne royal commission has delayed an examination of Suncorp and Youi’s response to natural disasters until September, when it expects to consider a range of general and life insurance issues.
Ex-broker guilty of taking clients’ money
02 July 2018
Former Perth broker Sergio Amaranti has pleaded guilty to seven charges of dishonest conduct and will face a sentence hearing next month in the WA District Court…
Tasmania makes progress on post-flood reforms
02 July 2018
The Tasmanian Government has met five of 24 recommendations arising from a report following devastating floods two years ago, including applying state planning codes to flood-prone areas…
Medical panel speeds icare treatment access
02 July 2018
Insurance & Care NSW’s medical support panel has reduced waiting periods for injured workers needing treatment approval…
Parliament passes ASIC funding legislation
02 July 2018
The Australian Securities and Investments Commission’s fees-for-service funding scheme began on Saturday after Parliament passed the bill last week…
New WA workers’ comp regime kicks in
02 July 2018
New WorkCover WA legislation to improve the compensation scheme for family members of workers killed at work came into effect this month…