icare extends fast-track treatment pilot
23 October 2017
A pilot panel of medical experts has speeded medical decision-making for injured NSW workers from an average of six weeks to six days…
Regulatory & Government
ICA urges class action reform
16 October 2017
The Insurance Council of Australia has called for class action regimes to be made more efficient and cost-effective, as an increase in securities-related claims affects the market for directors’ and officers’ cover…
Terrorism expert urges focus on recovery
16 October 2017
Terrorist attacks can’t always be prevented, so authorities must also focus on resilience and recovery, a strategic analyst says…
NSW plans CTP refunds
16 October 2017
Most NSW motorists can expect a compulsory third party refund next year as part of government reforms aimed at making the scheme fairer and more affordable…
APRA earns positive scorecard from industry
16 October 2017
General insurers have marked down the Australian Prudential Regulation Authority for its performance on cost consultations, while giving the regulator a mostly positive scorecard in its biennial Stakeholder Survey Report…
Premiums may rise under tax benefit changes: ICA
16 October 2017
Insurers may be forced to raise premiums to offset costs under Treasury’s proposal to remove a “double tax benefit” arising with certain deductible liabilities held by an entity that joins a consolidated group…
Ministers stop short of cladding ban
09 October 2017
The Building Ministers’ Forum has announced measures to prevent the use of flammable cladding on high-rise buildings, but has not recommended a national ban on the product…
ASIC flags $14 million industry regulation cost
09 October 2017
The Australian Securities and Investments Commission estimates it will cost $14.1 million to regulate the life and general insurance sectors this financial year…
icare unveils builders’ warranty claims manager
09 October 2017
Insurance and Care NSW has appointed Gallagher Bassett as the Home Building Compensation Fund claims manager.
NIBA opposes one-stop watchdog bill
09 October 2017
The National Insurance Brokers Association has opposed legislation allowing the Financial Ombudsman Service to be absorbed into a wider complaints authority…
Stronger ASIC banning powers gain industry support
09 October 2017
The Insurance Council of Australia (ICA) supports plans to strengthen Australian Securities and Investments Commission banning powers…
Queensland CTP commission records huge surplus rise
09 October 2017
Queensland’s Motor Accident Insurance Commission achieved an operating surplus of $10.94 million in the year to June 30, up from $361,000 the previous year…
NTC seeks feedback on driverless car laws
09 October 2017
The National Transport Commission wants road transport agencies, police and industry to comment on how driver laws should be changed to allow automated vehicles onto the roads…
Revenue decline dents WorkCover WA surplus
09 October 2017
WorkCover WA recorded a $4.6 million net surplus in the year to June 30, down from $8.5 million the previous year as a decline in revenue outpaced that of key expenses…
Canberra grant boosts cyber research
02 October 2017
The Federal Government will provide $50 million over the next seven years to establish the Cyber Security Co-operative Research Centre…
WA notes rise in ‘claims harvesting’
02 October 2017
The number of WA motor accident victims being encouraged to lodge an exaggerated or false motor injury insurance claim has risen “dramatically” to 322 in the past two years, according to the WA Insurance Commission…
APRA seeks more feedback on actuarial changes
02 October 2017
The Australian Prudential Regulation Authority has released a consultation paper in response to last year’s submissions regarding proposals to improve the functions of insurers’ appointed actuaries…
FMA to release life adviser findings by year-end
02 October 2017
The New Zealand Financial Markets Authority says it will release findings from a targeted review of 24 life insurance advisers with a high level of policy churn by the end of this year…
Warranty company promises to be more transparent
02 October 2017
The National Warranty Company has undertaken to amend “potentially misleading” extended warranties it has been selling through new and used-vehicle dealerships nationwide since early 2015…
IAIS provides guidance for supervising mutuals
02 October 2017
Mutuals, co-operatives and community-based organisations have a key role in providing insurance access and should be regulated appropriately, according to a guidance paper from the International Association of Insurance Supervisors…