insuranceNEWS.com.au - Regulatory & Government

Cyclone pool coverage tops 3 million buildings

Mon, 03 Mar 2025 03:45:10 GMT

The cyclone reinsurance pool provides cover for 3.1 million buildings with a total exposure of almost $2.17 trillion, a quarterly report shows...

Workers’ comp scammer forced to repay $114k

Mon, 03 Mar 2025 03:44:59 GMT

A Victorian man who took a $200,000-a-year business manager role while receiving $114,952 in workers’ compensation has been convicted of fraud and told to repay the money...

CBL finance head breached disclosure laws

Mon, 03 Mar 2025 03:44:33 GMT

Former CBL Group CFO Carden Mulholland breached market continuous disclosure laws, New Zealand’s High Court has found in a landmark decision...

ARPC reduces terror retrocession

Mon, 03 Mar 2025 03:44:18 GMT

The Australian Reinsurance Pool Corporation has reduced its terrorism retrocession program for this year, partly reflecting risk assessment changes...

Drone sniffs out danger at fire sites

Mon, 03 Mar 2025 03:44:02 GMT

Fire and Rescue NSW has launched drones that can “smell” fire...

Grant scheme to bolster Queensland coastal defences

Mon, 03 Mar 2025 03:41:12 GMT

The Queensland government has launched a $6 million fund for coastal councils to protect against ocean-driven erosion, storm tide inundation and rising sea levels...

Coalition flags cuts to capital, regulatory burden

Mon, 24 Feb 2025 03:13:56 GMT

The Insurance Council of Australia has backed the Coalition’s pre-election pledge to ease the industry’s capital requirements and compliance costs...

Henry slams Labor, Libs over ‘nuts’ approach to tax reform

Mon, 24 Feb 2025 03:13:22 GMT

Former Treasury secretary Ken Henry has repeated his call for the scrapping of “nuisance” taxes such as those levied on insurance...

ASIC consults on reduced reporting burden for minor breaches

Mon, 24 Feb 2025 03:13:06 GMT

The Australian Securities and Investments Commission is seeking feedback on a plan to reduce the reporting burden on financial services licensees...

State urged to toughen planned claims farming ban

Mon, 24 Feb 2025 03:12:48 GMT

The NSW government’s proposed ban on claims farming does not go far enough, the Insurance Council of Australia says...

SCA proposes WA strata commissioner

Mon, 24 Feb 2025 03:12:18 GMT

Strata Community Association WA has called for $10 million of funding over four years for a state strata commissioner, and has urged all sides of politics to continue legislative reform...

Taskforce to oversee NSW strata rule changes

Mon, 24 Feb 2025 03:12:02 GMT

A strata and property services taskforce will enforce a suite of NSW reforms taking effect this year, the state government says...

NSW battery standards kick in

Mon, 24 Feb 2025 03:11:36 GMT

NSW has implemented its Australian-first information standard for lithium-ion battery mobility products and the first stage of product safety standards to help address fire risks...

State insurer takes over home construction claims from GB

Mon, 17 Feb 2025 03:53:09 GMT

NSW state insurer icare is bringing builders’ warranty claims handling in-house in a bid to create a “more efficient, personalised, and streamlined” service...

SIRA puts ‘customers at centre’ of three-year plan

Mon, 17 Feb 2025 03:52:54 GMT

NSW’s State Insurance Regulatory Authority has outlined its aims for the next three years...

Queensland to step up dangerous battery collections

Mon, 17 Feb 2025 03:52:25 GMT

The Queensland government has launched a $2 million program to increase battery collection points and address growing fire risks...

SIRA cracks down on builders amid coverage probe

Mon, 17 Feb 2025 03:52:08 GMT

The NSW insurance regulator has issued a penalty notice and 43 cautions over compulsory home building cover breaches...

Cyclone pool extension ‘would go beyond overseas model’

Mon, 10 Feb 2025 02:45:12 GMT

An extension of the cyclone reinsurance pool cut-off to seven days after an event is downgraded could create a longer period of cover than is typical in international markets, federal MPs have heard...

Jones says advice reforms a priority as election looms

Mon, 10 Feb 2025 02:36:07 GMT

Assistant Treasurer Stephen Jones has reiterated the Albanese government’s commitment to advancing the next stage of financial advice reforms, which include allowing insurers to provide simple guidance...

Commission calls for feedback on insurers’ motor club moves

Mon, 10 Feb 2025 02:33:58 GMT

IAG and Allianz’s plans to take over motor club insurance operations are under scrutiny by the competition watchdog, which is canvassing the market about the potential impacts on pricing and smash repair services...