ASIC instructs on ‘new era’ of cost recovery
30 July 2018
The Australian Securities and Investments Commission has issued instructions to insurers and other companies on ensuring they are correctly invoiced for regulation expenses…
Regulatory & Government
icare backs charity’s tech accelerator
30 July 2018
The Insurance & Care NSW Foundation will provide $1.5 million to a tech accelerator program run by the Cerebral Palsy Alliance…
Canberra revises product rules after criticism
23 July 2018
Treasury has revised draft product design and distribution legislation, proposing measures that could allow the Australian Securities and Investments Commission to intervene on funeral insurance…
ASIC targets ‘recurrent data collection’ under analytics push
23 July 2018
The corporate regulator wants data analytics to play a bigger role in tackling financial sector risks…
Industry faces Hayne spotlight in September
23 July 2018
The insurance sector is expected to be the focus of the Hayne royal commission’s sixth round of hearings from September 10-21…
SA surveys motorists as CTP reform looms
23 July 2018
Injured motorists in SA will be surveyed about their experiences with the state’s compulsory third party insurance scheme before it is opened to competition next year…
NTC calls for help with driver fatigue research
23 July 2018
The National Transport Commission wants truck drivers to take part in research around fatigue…
Canberra extends unfair contract terms consultation
16 July 2018
The Federal Government has extended a deadline for submissions on controversial proposals to make insurance subject to unfair contract terms legislation…
ACCC chief Sims warns on corporate misbehaviour
16 July 2018
Australian Competition and Consumer Commission Chairman Rod Sims says companies too often behave badly and regulators must act to reveal and avert actions that harm customers…
SA council body revamps insurance scheme oversight
16 July 2018
The Local Government Association of SA has established a subsidiary to oversee its insurance schemes, following an Auditor-General’s report recommending changes…
ACCC to consult on consumer data right
16 July 2018
A consultation paper on rules for the proposed consumer data right program will be released next month…
NZ accident scheme tests automated claims process
16 July 2018
New Zealand’s Accident Compensation Corporation expects faster processing of simple claims when a new system is introduced later this year…
NT reviews WorkSafe practices
16 July 2018
The NT Government has begun a six-month review of workplace regulator WorkSafe…
Indigenous customers ‘being fleeced by funeral insurers’
09 July 2018
Some indigenous customers of funeral insurers have been paying for up to five insurance policies for their families, according to the indigenous representative body National Congress…
NSW injury tribunal plan worries icare
09 July 2018
NSW Government-owned Insurance & Care has expressed concerns over a parliamentary committee’s suggestion to set up a personal injury tribunal to oversee disputes in compulsory third party and workers’ compensation…
Brokers warned to take care with ‘independent’ wording
09 July 2018
Brokers have been urged to be careful about using the word “independent” after the Australian Securities and Investments Commission rebuked four financial advice firms for misleading consumers…
Asbestos health fallout inflicts huge economic toll
09 July 2018
Asbestos-related diseases continue to impose a “substantial burden” on the economy, the Asbestos Safety and Eradication Agency says in an executive summary report…
Commission submits competition report to Government
09 July 2018
The Productivity Commission has handed its final report on competition in the financial system to the Federal Government, with add-on insurance, lenders’ mortgage cover and state-based taxes expected to feature…
Guide advises on bushfire ember attacks
09 July 2018
The Victorian Building Authority has published a guide on how to retrofit public buildings to guard against bushfire ember attack…
NZ central bank consults on solvency standards
09 July 2018
The Reserve Bank of New Zealand is seeking feedback on proposed changes to the insurance solvency standards for a new class of assets and liabilities that have arisen from a new accounting standard for lease contracts…