insuranceNEWS.com.au https://www.insurancenews.com.au/ General insurance and financial services news from Australia and around the world en-au admin@insurancenews.com.au Copyright 2019 'The age of disclosure is over' https://www.insurancenews.com.au/regulatory-government/the-age-of-disclosure-is-over https://www.insurancenews.com.au/regulatory-government/the-age-of-disclosure-is-over Financial services product disclosure laws have failed to protect consumers as intended, a study by the Australian Securities and Investments Commission has found...

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Mon, 21 Oct 2019 13:43:00 +1100
Insurers fear 'consumer detriment' from draft product laws https://www.insurancenews.com.au/regulatory-government/insurers-fear-consumer-detriment-from-draft-product-laws https://www.insurancenews.com.au/regulatory-government/insurers-fear-consumer-detriment-from-draft-product-laws The Insurance Council of Australia has submitted proposals to avert “significant consumer detriment” it believes could arise from the draft Product Design and Distribution Obligations Regulations...

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Mon, 21 Oct 2019 13:42:00 +1100
New accounting rule 'gives more transparency': EY https://www.insurancenews.com.au/regulatory-government/new-accounting-rule-gives-more-transparency-ey https://www.insurancenews.com.au/regulatory-government/new-accounting-rule-gives-more-transparency-ey More financial details over how an insurer performed can be expected when the International Accounting Standards Board’s new IFRS 17 rule kicks in, according to global audit firm EY...

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Mon, 21 Oct 2019 13:41:00 +1100
NSW councils declare climate emergency https://www.insurancenews.com.au/regulatory-government/nsw-councils-declare-climate-emergency https://www.insurancenews.com.au/regulatory-government/nsw-councils-declare-climate-emergency Local councils in NSW have voted to declare a climate emergency and will urge state and federal governments to develop climate risk standards, such as providing more renewable energy for all new infrastructure and property projects...

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Mon, 21 Oct 2019 13:40:00 +1100
Consultation opens on draft privacy rules https://www.insurancenews.com.au/regulatory-government/consultation-opens-on-draft-privacy-rules https://www.insurancenews.com.au/regulatory-government/consultation-opens-on-draft-privacy-rules The Office of the Australian Information Commissioner is seeking feedback over its draft Privacy Safeguard Guidelines...

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Mon, 21 Oct 2019 13:39:00 +1100
NSW draft building bill may keep out insurers: ICA https://www.insurancenews.com.au/regulatory-government/nsw-draft-building-bill-may-keep-out-insurers-ica https://www.insurancenews.com.au/regulatory-government/nsw-draft-building-bill-may-keep-out-insurers-ica The Insurance Council of Australia says the NSW Government’s draft Design and Building Practitioners bill may not ease the insurance problem facing the construction industry...

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Mon, 21 Oct 2019 13:38:00 +1100
Victoria promises to pursue dodgy builders https://www.insurancenews.com.au/regulatory-government/victoria-promises-to-pursue-dodgy-builders https://www.insurancenews.com.au/regulatory-government/victoria-promises-to-pursue-dodgy-builders The Victorian Government has pledged to chase “dodgy building practitioners” through the courts on behalf of owners of apartments covered in combustible cladding...

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Mon, 21 Oct 2019 13:35:00 +1100
icare aims to improve return to work rates https://www.insurancenews.com.au/regulatory-government/icare-aims-to-improve-return-to-work-rates https://www.insurancenews.com.au/regulatory-government/icare-aims-to-improve-return-to-work-rates NSW state insurer icare has pledged to work closely with partners to improve return to work under its workers’ compensation scheme...

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Mon, 21 Oct 2019 13:35:00 +1100
ASIC enforcement action jumps https://www.insurancenews.com.au/regulatory-government/asic-enforcement-action-jumps https://www.insurancenews.com.au/regulatory-government/asic-enforcement-action-jumps Enforcement action by the Australian Securities and Investments Commission was “significantly increased and accelerated” in the 2019 fiscal year, the regulator reveals in its latest annual report...

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Mon, 21 Oct 2019 13:32:00 +1100