Young NSW drivers to trial telematics
09 April 2018
NSW will trial telematics to improve young drivers’ safety and reduce the state’s compulsory third party insurance costs…
Regulatory & Government
ASIC sets out obligations for cost-recovery regime
09 April 2018
The Australian Securities and Investments Commission says companies must access an online portal between July and September to submit or validate their business activity metrics, as part of its new cost-recovery program…
RAA fined over misleading advert
09 April 2018
RAA Insurance has been fined $43,200 by the Australian Securities and Investments Commission over misleading representations about car insurance in TV advertising…
Royal commission hears scale of CBA credit cover failures
26 March 2018
Commonwealth Bank mis-sold consumer credit insurance to about 64,000 customers who did not meet employment eligibility criteria for claims, the royal commission into financial services misconduct heard last week…
ICNZ calls for further reform after EQC changes
26 March 2018
The Insurance Council of New Zealand will continue to seek improvements to the Earthquake Commission Act after welcoming changes announced by the Government last week…
Choice demands abolition of lenders’ mortgage cover
26 March 2018
Consumer group Choice has called for lenders’ mortgage insurance to be abolished in response to the Productivity Commission’s draft report on competition in the financial system…
ICA backs advice overhaul to assist consumers
26 March 2018
The Insurance Council of Australia has strongly supported “comprehensive reforms” to improve the quality of advice given to retail consumers…
PetSure rejects brand transparency proposal
26 March 2018
Hollard-owned PetSure has defended its underwriting dominance in pet insurance and says Productivity Commission draft recommendations to improve competition could have the opposite effect and disadvantage consumers…
ACT chooses new CTP scheme
26 March 2018
A citizens’ jury tasked with picking a new compulsory third party scheme for the ACT has chosen a model that covers all regardless of who is negligent…
ASIC and UK regulator step up fintech co-operation
26 March 2018
The Australian Securities and Investments Commission and its UK counterpart the Financial Conduct Authority have agreed to extend their co-operation on fintech innovation…
icare backs ‘non-medical’ recovery trial
26 March 2018
The Insurance & Care NSW Foundation will give $1.4 million to a recovery program that helps injured workers by addressing their social and mental needs…
WA raises workers’ comp premium rate
26 March 2018
WorkCover WA has announced an overall 3.9% rise in premium rates for compulsory workers’ compensation insurance next financial year…
ASIC to gain competition mandate, second deputy
19 March 2018
The Australian Securities and Investments Commission will have a competition mandate added to its role and appoint a second deputy chairman, Revenue and Financial Services Minister Kelly O’Dwyer said today…
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…
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…