Gallagher Bassett wins icare contract
11 December 2017
Gallagher Bassett has won a contract to be the new general claims management services provider for Insurance & Care NSW (icare)…
Regulatory & Government
ASIC bans ‘unfit’ director over contract referrals
11 December 2017
The Australian Securities and Investments Commission has permanently banned Landlord Protection Group director Tracey Joanne Burnell after investigating her role arranging insurance contracts…
Canberra moves to protect corporate whistleblowers
11 December 2017
The Federal Government has introduced a bill to create stronger protections for whistleblowers who expose corporate misconduct…
APRA recruits Deutsche Bank exec for strategy role
11 December 2017
Therese McCarthy Hockey has been appointed to the new role of EGM Strategy/Chief Risk Officer for the Australian Prudential Regulation Authority, effective from February 1…
IAIS seeks feedback on systemic risk approach
11 December 2017
The International Association of Insurance Supervisors has produced an interim public consultation paper on an activities-based approach to systemic risk in the sector…
Global warming already affecting economy: APRA
04 December 2017
Climate change and society’s response to it are already reshaping the global economy, according to the Australian Prudential Regulation Authority…
Businesses falling short on cyber resilience: ASIC
04 December 2017
A cyber-resilience self-assessment conducted in the financial markets sector shows room for improvement, the Australian Securities and Investments Commission says…
Youi to pay back $164,000 over sales practices
04 December 2017
Youi will pay $164,000 in compensation for its poor sales behaviour, as CEO Frank Costigan vows to avoid a repeat of the lapses…
Credit hire business ‘misled customers’
04 December 2017
Credit hire company Compass Claims will change its advertising and sales practices after an Australian Competition and Consumer Commission investigation…
Kaikoura, Canterbury dominate as EQC pays $680 million
04 December 2017
New Zealand’s Earthquake Commission (EQC) paid $NZ760.26 million ($687 million) in claim settlements and handling costs in the year to June 30…
ICA welcomes ‘fairer’ NSW CTP scheme
04 December 2017
NSW compulsory third party reforms that took effect last Friday will bring lower average premiums and allow faster payment of claims, the Insurance Council of Australia says…
icare publishes spinal injury guidance
04 December 2017
Insurance & Care NSW has produced the third edition of its guidance on the needs of adults with spinal cord injuries…
NIBA warns of NSW ‘bill shock’ after levy reinstatement
27 November 2017
Property insurance policyholders may experience “bill shock” next year after the NSW Government dropped plans to remove the emergency services levy, the National Insurance Brokers Association says…
Dangerous materials inquiry calls for mandatory recall cover
27 November 2017
Canberra should consider requiring importers and suppliers to hold recall insurance in case they supply materials containing asbestos, the Senate inquiry into non-conforming building products says…
NSW lawyers reject ‘unfair’ CTP regulations
27 November 2017
New compulsory third party regulations that take effect in NSW on Friday will erode the rights of many innocent car crash victims, state Bar Association President Arthur Moses warns…
AAMI pays $43,000 over misleading adverts
27 November 2017
AAMI has paid $43,200 in penalties after the Australian Securities and Investments Commission found it made false or misleading statements in some adverts for home insurance…
ICA supports tough stance on misconduct penalties
27 November 2017
The Insurance Council of Australia has backed plans by the Australian Securities and Investments Commission to strengthen penalties for corporate and financial sector misconduct…
ASIC clarifies limited licensee obligations
27 November 2017
The Australian Securities and Investments Commission has published a “quick guide” on key obligations for limited Australian financial services licensees and their representatives…
ASIC blocks unlicensed prize indemnity providers
27 November 2017
The Australian Securities and Investment Commission has stopped two unlicensed companies in Queensland from selling insurance and providing financial services…
Literacy strategy should target high-risk consumers: ICA
27 November 2017
Disaster-prone communities should be added to the National Financial Literacy Strategy’s list of priority audiences, the Insurance Council of Australia says…