ICA backs APRA data collection tool
30 April 2018
The Australian Prudential Regulation Authority’s proposed new data collection tool is more efficient and user-friendly than the present system, the Insurance Council of Australia says…
Regulatory & Government
Driverless car trial tests human reactions
30 April 2018
A driverless vehicles trial in Canberra will examine how quickly humans can resume control of automated vehicles…
Councils’ flood data ‘can bring down’ northern premiums
23 April 2018
Sharing flood data between councils and insurers can help address the higher premiums facing consumers in the north, Floodplain Management Australia says…
Consumer groups want tougher response on add-on sales
23 April 2018
Consumer advocates have called for an end to the sale of some add-on insurance products…
Reform forces builders to fix cladding ‘defects’
23 April 2018
NSW has changed home building laws to classify unsafe external wall cladding as a major defect, requiring builders to pay for rectification work…
Canberra toughens up corporate crime penalties
23 April 2018
Penalties for corporate misconduct will be strengthened and the Australian Securities and Investments Commission given enhanced powers to investigate and punish white-collar crime, the Government says…
QBE defends LMI’s role helping home-buyers
23 April 2018
Lenders’ mortgage insurance enhances competition for high loan-to-value ratio customers, which includes many first-time home buyers, QBE says…
WA bushfire defences gain budget boost
23 April 2018
WA will allocate $80 million to its new Rural Fire Division – funded through a rise in the emergency services levy on council rates – and take further steps to reduce risks as it continues to respond to deadly bushfires two years ago…
ASIC steps up co-operation with jobs department
23 April 2018
The Australian Securities and Investments Commission (ASIC) and Department of Jobs and Small Business have signed a memorandum of understanding to foster closer co-operation…
ARPC streamlines its leadership structure
23 April 2018
The Australian Reinsurance Pool Corporation has made changes that will see two members of its senior executive team leave…
ACCC appoints Deputy Chairman
23 April 2018
The Australian Competition and Consumer Commission has appointed Mick Keogh as Deputy Chairman for a five-year term, starting from the end of next month…
WA seeks feedback on injury scheme
23 April 2018
The Insurance Commission of WA will hold a forum with service providers to discuss ways to improve the Motor Vehicle Catastrophic Injuries Support scheme, which started in 2016…
Allianz floats ‘subsidy arrangement’ for north
16 April 2018
A “subsidy arrangement” to fund a government-backed insurance pool is the long-term solution to addressing the north’s premium woes, Allianz says…
Lack of pricing transparency hurts consumers, ACCC told
16 April 2018
Insurers’ refusal to provide more clarity on how premiums are calculated makes it difficult for consumers to take the right risk decisions, according to the Financial Rights Legal Centre…
Mandatory reporting brings spike in breach notifications
16 April 2018
A wave of companies have reported data breaches since the introduction of mandatory reporting…
NZ fire levy changes put back
16 April 2018
Controversial plans to change the way the New Zealand fire service levy is calculated have been delayed…
ASIC seeks feedback on fees-for-service reform
16 April 2018
The Australian Securities and Investments Commission is calling for comments on revised bills and regulations to introduce its fees-for-service funding model…
Suncorp seeks greater context on renewal price disclosure
09 April 2018
Displaying previous-year premiums on renewal notices without context may encourage customers to make price-based decisions rather than considering if they have the right cover, Suncorp warns…
ASIC backs deferred sales across all add-on cover
09 April 2018
The Australian Securities and Investments Commission has welcomed a Productivity Commission proposal that may extend a deferred sales model to all add-on insurance…
ICA defends lenders’ mortgage cover
09 April 2018
The Insurance Council of Australia has rejected suggestions lenders’ mortgage insurance is unnecessary and could be replaced with increased interest rates on loans that require the cover…