Royal commission turns attention to SMEs
30 April 2018
The royal commission on financial services misconduct will focus on SMEs when its third round of public hearings starts in Melbourne next month…
Regulatory & Government
ICA backs cooling off-period, disclosure on warranties
30 April 2018
The Insurance Council of Australia has backed a proposal for extended warranty reform that features a 10-day cooling-off period and written disclosure from traders…
Treasury seeks feedback on terrorism insurance scheme
30 April 2018
Treasury has released a consultation paper for its triennial review of the Terrorism Insurance Act…
Victoria allocates more cash for cladding inspections
30 April 2018
The new Victorian budget will include $25 million to step up cladding inspections and crack down on builders who flout the law…
Rules for ASIC’s funding by industries refined
30 April 2018
The Federal Government has released further draft regulations for industry funding of the Australian Securities and Investments Commission…
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…
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…