insuranceNEWS.com.au - Regulatory & Government

ASIC opens consultation on code of practice

Wed, 11 Nov 2026 05:24:15 GMT

The corporate regulator has invited feedback on the proposed redraft of the General Insurance Code of Practice, which the industry last month submitted for approval...

Watchdog finds IAG-RAC deal benefits ‘overstated’

Wed, 11 Nov 2026 04:01:00 GMT

The public benefits of IAG’s proposed acquisition of RAC Insurance are unlikely to outweigh negative impacts, the competition regulator says in a preliminary assessment of additional commitments made by the would-be buyer...

Canberra clamps down on frontier AI after attack

Tue, 10 Nov 2026 05:26:01 GMT

Prime Minister Anthony Albanese today announced a new set of mandatory standards for AI companies following a review of an agent-led infiltration earlier this year...

APRA flags ‘broader consequences’ of AI underwriting

Mon, 09 Nov 2026 03:47:54 GMT

Artificial intelligence raises a “deeper question” around the ways more precise risk assessment will change the nature of insurance, Australian Prudential Regulation Authority member Suzanne Smith says...

Cyclone pool helping but is no cure-all, MPs hear

Mon, 09 Nov 2026 03:47:45 GMT

The cyclone reinsurance pool is delivering measurable reductions in insurance premiums in high-risk areas but affordability and availability challenges remain across northern Australia, a parliamentary inquiry has been told...

ICA and state recovery agency strengthen ties

Mon, 09 Nov 2026 03:47:20 GMT

The Insurance Council of Australia and the NSW Reconstruction Authority have formed a partnership to strengthen co-ordination before, during and after disasters...

ASIC raises PI issue in lead generation probe

Mon, 09 Nov 2026 03:47:12 GMT

An Australian Securities and Investments Commission probe into lead generation services has flagged concerns around professional indemnity insurance...

SIRA demands invoice data in workers’ comp compliance push

Mon, 09 Nov 2026 03:46:53 GMT

The NSW insurance regulator has told a medical imaging practice to provide invoices for all MRIs charged to the state workers’ compensation scheme over a 10-month period...

Minister vows to move with caution on price transparency

Fri, 06 Nov 2026 05:17:28 GMT

Premium transparency reforms could support resilience aims but will be approached carefully, Financial Services Minister Daniel Mulino told the Insurance Council of Australia conference today...

Code review ‘a priority’ as ASIC prepares to canvass views

Fri, 06 Nov 2026 05:17:08 GMT

The Australian Securities and Investments Commission will begin seeking views on the redrafted general insurance code of practice next week and aims to finalise its review process in the new year...

Disaster Ready Fund reveals NSW, ACT cash recipients

Wed, 04 Nov 2026 05:20:15 GMT

The Disaster Ready Fund’s fourth round of grants will support 14 NSW projects and seven in the ACT, with combined federal and local investments across the two regions topping $100 million...

Small business cyber cover now cheaper and easier to buy, MPs hear

Tue, 03 Nov 2026 04:56:57 GMT

Cyber cover prices are falling and insurers are trying to ease the buying process for SMEs to encourage take-up, industry figures have told a parliamentary inquiry...

Tax-free ACT takes top spot in duty ranking

Mon, 02 Nov 2026 03:31:24 GMT

The ACT tops a Business Council of Australia ranking of the lowest insurance duties – because it has none...

Worker sentenced over ‘serious’ compo scam

Mon, 02 Nov 2026 03:31:12 GMT

A workers’ compensation claimant has been convicted after making false statements to the NSW scheme and working while collecting weekly benefits...

Watchdog extends RAC takeover review

Mon, 02 Nov 2026 03:31:04 GMT

The Australian Competition and Consumer Commission has extended a deadline for deciding if IAG’s proposed takeover of RAC Insurance meets a public benefit test...

Bondi a ‘solemn reminder’ as pool reflects on year

Mon, 02 Nov 2026 03:30:39 GMT

Two terrorism incidents were declared last financial year and the cyclone pool had its busiest season with nine events, the Australian Reinsurance Pool Corporation annual report says...

Workers’ comp survey deadline extended

Mon, 02 Nov 2026 03:30:06 GMT

The NSW government has extended the consultation period for its review of workers’ compensation premiums...

Industry calls on Queensland to strengthen planning reforms

Mon, 02 Nov 2026 03:29:54 GMT

Insurers have pressed the country’s most disaster-prone state to take up their recommendations on strengthening housing resilience...

IAG fined $479k over CTP failings

Tue, 27 Oct 2026 05:14:56 GMT

The NSW State Insurance Regulatory Authority has imposed a $479,500 penalty on IAG for customer overcharges and under-refunds at its NRMA Insurance brand...

Small business cover inquiry pushes back report

Tue, 27 Oct 2026 05:14:35 GMT

A federal parliamentary inquiry into small business insurance will table its recommendations in late February after a four-month extension to its reporting timetable...