WA budgets $1.4 million for bushfire risks
12 February 2018
The WA Government has allocated $1.47 million to managing bushfire risks under its new $15 million Mitigation Activity Fund…
Regulatory & Government
APRA flags news on actuarial changes
05 February 2018
Proposed changes to the role of appointed actuaries in insurance will be finalised in the first half of this year, the Australian Prudential Regulation Authority says in a paper outlining its policy priorities this year…
ICA seeks more time on actuary changes
05 February 2018
The Insurance Council of Australia says members may need more time to adjust to new regulatory standards covering appointed actuaries…
NSW opens home building cover to private insurers
05 February 2018
Private insurers can now provide protection for NSW homeowners against incomplete and defective construction work, under changes to the Home Building Compensation Fund program…
icare revamps self-insurance operation
05 February 2018
Insurance & Care NSW has renamed its government agencies self-insurance service, as it proceeds with a three-year strategy to improve its offering…
ICA wants exemption from national security drive
05 February 2018
The Insurance Council of Australia has asked to be exempted from the Foreign Influence Transparency Scheme, which is part of the Turnbull Government’s crackdown on espionage and other activities that jeopardise national security…
icare backs support scheme for injured workers
05 February 2018
Craig’s Table, a social enterprise to help injured workers return to employment, will open in western Sydney this month after the icare Foundation provided seed funding of $500,000…
ESL failure cost insurers $40 million: ICA
29 January 2018
Failure to remove the emergency services levy in NSW cost insurers more than $40 million and saw funds spent “to no purpose”, the Insurance Council of Australia says in a submission to a parliamentary inquiry…
icare appoints acting chief after Bhatia’s departure
29 January 2018
Insurance & Care NSW has appointed John Nagle as Interim CEO to replace Vivek Bhatia, who begins work at QBE this week as CEO of its Australian and New Zealand operations…
Royal commission to hold February hearing
29 January 2018
The royal commission into misconduct in the banking, superannuation and financial services industry will hold an initial public hearing in Melbourne in two weeks…
ASIC puts insurers on notice over add-on cover
29 January 2018
Australian Securities and Investments Commission Acting Chairman Peter Kell says insurers that provide so-called add-on insurance should be taking active steps to change deficient products…
Suspect to face court over car repair ‘fraud’
29 January 2018
A Victorian man faces fraud charges over allegations he posed as an insurance representative or broker to collect payments from the car repair industry…
ICA suggests transition period for ASIC fee reform
29 January 2018
Treasury should consider an “appropriate” transition period for implementation of the fee-for-service funding model that takes effect on July 1, the Insurance Council of Australia says in a submission…
RBNZ fills insurance supervision role
29 January 2018
The Reserve Bank of New Zealand has appointed Richard Dean as Manager Insurance Oversight following the retirement last Friday of Pete Brady…
Guidance issued on SME duty exemption
29 January 2018
Revenue NSW has issued a practice note relating to the general insurance small business exemption, which became available on January 1…
icare trials mental health strategy for SMEs
29 January 2018
Insurance & Care NSW and national mental health group Everymind will trial an innovative digital strategy to help improve wellbeing among small businesses in Parramatta, Lake Macquarie and Singleton…
One-stop dispute resolution scheme moves closer
11 December 2017
Legislation to establish a new one-stop dispute resolution body has passed the Senate…
ICA seeks brake on proposed ASIC directions power
11 December 2017
Stronger powers proposed for the Australian Securities and Investments Commission should not be introduced unless accompanied by checks and balances, the Insurance Council of Australia has warned…
Regulator looks at boosting telematics uptake
11 December 2017
The National Transport Commission will review telematics use for regulatory purposes, to find ways of encouraging further take-up…
Draft sandbox rules ‘need more flexibility’
11 December 2017
Proposed fintech “sandbox” regulations will help insurers test innovations but should be further refined so market benefits can be better assessed, according to the Insurance Council of Australia…