ASIC zeroes in on cyber resilience
19 March 2018
Companies are still not spending enough to protect their assets from cyber threats, according to the Australian Securities and Investments Commission…
Regulatory & Government
NSW a step closer to raising dam wall
19 March 2018
WaterNSW has awarded a $14.5 million contract to engineering consultant GHD and joint venture partner Stantec to create a design for raising the Warragamba Dam…
ICA targets new SA Government on stamp duties
19 March 2018
The Insurance Council of Australia has called on the newly elected SA Government to axe state insurance taxes, calling them “inefficient, unfair and inequitable”…
Asbestos removers back incentives to act
19 March 2018
Asbestos remediation companies favour a government incentive to encourage short-term methods of dealing with the material before it is removed, according to a report…
FMA investigation draws guilty plea
19 March 2018
New Zealand’s Financial Markets Authority says Garry James Patterson has pleaded guilty to two charges related to providing insurance policies…
ARPC works on risk mitigation guidebook
19 March 2018
The Australian Reinsurance Pool Corporation plans to produce an anti-terrorism guide for businesses…
APRA demands focus on cyber security
12 March 2018
The Australian Prudential Regulation Authority says insurers and other financial institutions need to lift their cyber-security efforts to comply with a new standard…
ASIC calls for action on CCI products
12 March 2018
Insurers should improve the value of consumer credit products and ensure they are offered only when there are clear benefits, Australian Securities and Investments Commission Deputy Chairman Peter Kell says…
NZ reviews ‘antiquated’ insurance contract law
12 March 2018
New Zealand’s insurance contract law is to be reviewed, with the Government describing current arrangements as “antiquated and fragmented”…
Victoria bans flammable cladding
12 March 2018
The Victorian Government will ban the most dangerous types of combustible cladding from being used on high-rise buildings…
ICA urges NT to ditch ‘regressive’ stamp duty
12 March 2018
The Insurance Council of Australia wants The NT Government to scrap insurance levies as it looks to improve its revenue base…
Inquiry probes Southern Response ‘spying’
12 March 2018
New Zealand’s State Services Commission says it will investigate whether Southern Response breached standards of integrity and conduct following allegations of spying from earthquake claimants…
icare hails success of new claims model
12 March 2018
Insurance & Care NSW says its new workers’ compensation claims model is performing well…
APRA must prepare to use new crisis powers: Byres
05 March 2018
Australian Prudential Regulation Authority Chairman Wayne Byres says more work is needed to ensure new financial crisis management tools are used effectively if triggered…
Industry’s ‘special status’ brings responsibility: PC Chairman
05 March 2018
The special status of banks and insurance companies within economies must come with regulation and an unwritten expectation of social responsibility, Productivity Commission Chairman Peter Harris says…
ASIC consults on AFCA oversight
05 March 2018
The Australian Securities and Investments Commission has released an updated draft regulatory guide on oversight of the Australian Financial Complaints Authority, the new government-appointed disputes resolution body…
Disputes rise further, FOS data shows
05 March 2018
The Financial Ombudsman Service received about 13,200 general insurance disputes last financial year, up from 10,588 the previous year…
ASIC chief highlights ‘tailored approach’ to competition
05 March 2018
Australian Securities and Investments Commission Chairman James Shipton says the recent action on add-on insurance sold through car yards illustrates the preferred approach to competition problems…
Credit reporting changes help LMI sector: ICA
05 March 2018
Credit reporting rules due to take effect in July will help lenders’ mortgage insurers price risk and facilitate home ownership, the Insurance Council of Australia says…
ASIC forces $94 million in payouts for half-year
05 March 2018
About $94.4 million was paid to investors and consumers in compensation and remediation as part of Australian Securities and Investments Commission enforcement activities in the six months to December 31…