insuranceNEWS.com.au - Regulatory & Government

Watchdog eyes stock trades by two Steadfast staff

Mon, 16 Dec 2024 03:26:11 GMT

The Australian Securities and Investments Commission has sought information from Steadfast in connection with trading in the company’s shares by two employees...

ASIC cuts cost-recovery levies after running numbers

Mon, 16 Dec 2024 03:25:54 GMT

The Australian Securities and Investments Commission says regulatory costs to be recovered through funding levies for last financial year will be less than previously estimated...

NZ injury scheme reviewed after ‘decade of decline’

Mon, 16 Dec 2024 03:25:41 GMT

The New Zealand government has ordered an independent review of the Accident Compensation Corporation amid concerns about declining rehabilitation rates and increasing costs, and says levies will rise over the next three years...

Jasper recovery efforts gain $200 million injection

Mon, 16 Dec 2024 03:25:28 GMT

The federal and Queensland governments will provide more than $206 million to help communities hit by Ex-Cyclone Jasper last summer, in a package that includes funds to boost resilience...

ASIC finds flaws in complaints management culture

Mon, 09 Dec 2024 03:43:37 GMT

The Australian Securities and Investments Commission says an improvement in complaints handling culture is needed to address insurer failings in responding to dissatisfied customers...

Industry weighs ‘implications’ of advice shake-up

Mon, 09 Dec 2024 03:43:26 GMT

The federal government’s latest advice reforms, including a plan to let insurers give “simple” guidance, should lead to better consumer outcomes, according to the Insurance Council of Australia...

APRA to publish insurers’ 2050 affordability projections

Mon, 09 Dec 2024 03:43:11 GMT

The nation’s biggest insurers are modelling premium affordability under different climate scenarios for the prudential regulator...

AFCA hails ‘mature’ status as review process closes

Mon, 09 Dec 2024 03:42:37 GMT

The Australian Financial Complaints Authority says it has completed a three-year program to deliver on 13 recommendations made in an independent review of its operations...

New construction watchdog aims to build on ‘momentum shift’

Mon, 09 Dec 2024 03:42:24 GMT

NSW’s new building commissioner says further reforms are a priority as he begins his tenure...

Parliament passes merger law overhaul

Mon, 02 Dec 2024 03:46:55 GMT

The federal parliament has passed merger law reforms that require the competition watchdog to be notified of all deals above a certain transaction threshold...

No let-up in builder claims pressure as insolvencies surge

Mon, 02 Dec 2024 03:23:42 GMT

The State Insurance Regulatory Authority says claims pressure on the NSW builders’ warranty scheme will persist as the construction industry grapples with rising costs and labour shortages...

Builder fined over fake insurance documents

Mon, 02 Dec 2024 01:36:09 GMT

A WA construction business has been fined $5000 for producing a false home indemnity insurance certificate when applying for a building permit...

Insurers told to learn from banks on accountability overhaul

Mon, 02 Dec 2024 01:35:37 GMT

Regulators have urged insurers to note possible gaps in the way banks have handled the introduction of the Financial Accountability Regime...

Current advice regime constrains industry, ICA says

Mon, 25 Nov 2024 04:09:59 GMT

The Insurance Council of Australia has backed advice law changes that “enhance the quality” of customer engagement, as the federal government prepares its next tranche of reforms...

ASIC releases guidance on commission consent

Mon, 25 Nov 2024 03:11:28 GMT

The Australian Securities and Investments Commission has released guidance on commission consent laws that take effect on July 10 next year...

State moves on further strata reforms

Mon, 25 Nov 2024 03:11:09 GMT

The NSW government has introduced more strata legislation into parliament, with the latest reforms flowing from a 2021 statutory review...

ASIC expands emergency payout system

Mon, 25 Nov 2024 03:10:54 GMT

The Australian Securities and Investments Commission has extended an arrangement that helps insurers quickly pay consumers small cash sums in emergency situations...

APRA reinsurance reform impacts ‘unclear’

Mon, 25 Nov 2024 03:10:35 GMT

Proposed prudential changes that would encourage the industry to explore alternative reinsurance options such as catastrophe bonds come with trade-offs, according to Fitch Ratings...

Labor calls for pre-budget submissions

Mon, 25 Nov 2024 03:10:06 GMT

The federal government has invited submissions from individuals, community groups and businesses on ideas and priorities for the next budget...

State publishes strata guide for residents

Mon, 18 Nov 2024 02:51:12 GMT

NSW has released a strata living guide for residents that includes details of law changes taking effect in February to strengthen disclosure obligations...