insuranceNEWS.com.au - Regulatory & Government

Industry appreciates depth of cyclone pool inquiry report

Mon, 31 Mar 2025 03:48:52 GMT

The Insurance Council of Australia has welcomed the final report from a parliamentary inquiry into the cyclone reinsurance pool, highlighting its focus on broader affordability measures...

MPs flag insurance vigilance after reviewing ASIC, ACCC reports

Mon, 31 Mar 2025 03:23:28 GMT

Federal MPs have called for a focus on insurance issues such as affordability and pricing practices after reviewing the corporate and competition watchdogs’ annual reports for 2021, 2022 and 2023...

Commission seeks feedback on merger reform guidance

Mon, 31 Mar 2025 03:09:26 GMT

The Australian Competition and Consumer Commission has released draft merger process guidelines for consultation ahead of laws that will begin next year...

NZ ACC begins probe after reports of exec conduct ‘issues’

Mon, 31 Mar 2025 03:08:33 GMT

New Zealand’s Accident Compensation Corporation has ordered an independent review of its workplace culture following allegations about some senior executives’ behaviour...

Industry’s APRA levy to ease

Mon, 31 Mar 2025 02:43:03 GMT

The general insurance industry will pay about $28.6 million to fund Australian Prudential Regulation Authority operational costs next financial year, down from $32.7 million in 2024–25, Treasury calculates...

Regulator outlines expectations for new NZ conduct regime

Mon, 31 Mar 2025 01:59:18 GMT

New Zealand’s Financial Markets Authority says it expects businesses to put consumers at the forefront of decision-making as the Conduct of Financial Institutions regime takes effect...

APRA tells industry to check outsourcing practices

Mon, 24 Mar 2025 04:16:15 GMT

The prudential regulator has urged insurers to review their outsourcing practices in preparation for the start of CPS 230 Operational Risk Management on July 1...

NSW tables ban on ‘abhorrent’ claims farming

Mon, 24 Mar 2025 04:02:37 GMT

The NSW government has taken another step towards introducing a ban on claims farming...

Super fund penalised $10.5 million over greenwashing

Mon, 24 Mar 2025 03:49:45 GMT

The Federal Court has ordered Active Super to pay $10.5 million for making misleading claims about its green credentials...

State adds car mechanics to skill recognition program

Mon, 24 Mar 2025 02:31:00 GMT

Vehicle repairers will be added to a NSW skills recognition scheme that streamlines the movement of workers between states, in a move welcomed by the Insurance Council of Australia...

Reform to make battery suppliers ‘take accountability’

Mon, 24 Mar 2025 02:30:49 GMT

The NSW government has introduced legislation targeting suppliers’ handling and disposal of lithium-ion batteries and other products that pose safety and the environmental threats...

State grant scheme backs early action on mental injuries

Mon, 24 Mar 2025 02:30:37 GMT

Return to Work Victoria will provide grants of up to $500,000 for new programs to help mentally injured people re-enter the workforce quicker...

Watchdog consults on guidelines for merger reform

Mon, 24 Mar 2025 02:30:25 GMT

The Australian Competition and Consumer Commission is consulting on draft assessment guidelines for new merger notifications laws that will apply from next year...

Uninsured builder fined in ‘cowboy’ clampdown

Mon, 17 Mar 2025 03:22:34 GMT

A Sydney builder has been hit with a $473,000 fine for more than 40 offences relating to uninsured work, unlicensed jobs and excessive deposits...

Storm-hit state names disaster recovery co-ordinators

Mon, 17 Mar 2025 03:22:19 GMT

Queensland has appointed recovery co-ordinators to help communities clean up and rebuild after Ex-Tropical Cyclone Alfred...

Queensland offers resilient rebuild grants

Mon, 17 Mar 2025 03:22:06 GMT

The Queensland government has introduced resilience-focused rebuilding grants for flood-hit homeowners in the state’s north...

Victoria spreads word after killer stone ban

Mon, 17 Mar 2025 03:21:49 GMT

The Victorian government says it has advised more than 1100 construction and stonemason industry operators on adapting to the recent crackdown on engineered stone...

APRA consults on governance changes for insurers

Mon, 10 Mar 2025 03:06:45 GMT

The Australian Prudential Regulation Authority is seeking submissions on proposed changes to its governance standards for insurers, banks and super trustees...

Coalition backtracks on break-up threat

Mon, 10 Mar 2025 03:06:33 GMT

Shadow treasurer Angus Taylor says the Coalition’s divestment plans don't include the insurance industry, backing away from leader Peter Dutton’s comments last month...

ACCC prepares for merger rule reform

Mon, 10 Mar 2025 03:06:22 GMT

The competition watchdog had released guidance ahead of tougher merger notification laws, and has warned it will be on the lookout for anti-competitive acquisitions during the transition period...