Regulatory & Government
Industry must show it is passing on mitigation benefits: minister
21 October 2024
Insurers are well placed to advise on risk reduction spending but must ensure consumers see premium benefits from public resilience projects, Emergency Management Minister Jenny McAllister says...
APRA reflects on affordability, business resilience efforts
21 October 2024
The Australian Prudential Regulation Authority continued to work with insurers and the government to address insurance affordability and availability last financial year, according to its annual report...
State finds legal fix after worker claims faced axe
21 October 2024
The WA government has rushed through legislation after a surprise court decision disqualified hundreds of workers’ compensation claimants from being awarded damages...
NSW names next building commissioner
21 October 2024
Transport for NSW head of commercial, performance and strategy James Sherrard will become the state’s building commissioner on December 2...
Cybercrime laws to make victims report ransom payments
14 October 2024
Businesses with more than $3 million a year in revenue will be obliged to reveal any ransoms paid to cybercriminals under proposed new laws...
Disaster resilience funding round oversubscribed
14 October 2024
The federal government’s flagship disaster resilience program received more applications than it had funds available in its most recent round, a National Emergency Management Authority executive has told a Senate inquiry...
M&A reforms to introduce targeted checks
14 October 2024
The federal government has introduced a mergers reform bill that includes a mandatory notification system and a focus on serial acquisitions...
NZ regulator files action over ASB Bank discount issues
14 October 2024
New Zealand’s Financial Markets Authority has filed High Court proceedings against ASB Bank for alleged insurance product multipolicy discount failures...
Crawford offers stone ban tips to avoid ‘skyrocketing’ claims
14 October 2024
Crawford & Company has urged insurers to be aware of nuances in new engineered stone regulations, to avoid unnecessary costs...
State’s deal with embattled builder clears way for home claims
14 October 2024
The WA government has reached an agreement with Nicheliving that provides a “pathway” for the builder’s customers to access home indemnity insurance for their unfinished properties...
Collaboration key on premiums, QBE tells Senate probe
07 October 2024
QBE executives championed the Hazards Insurance Partnership as key to limiting price increases at last week’s session of the Senate inquiry into the impact of climate risk on premiums...
Cyclone pool to introduce strata mitigation discounts
07 October 2024
Cyclone pool premium pricing will include strata mitigation discounts from next April following feedback obtained during a consultation...
Australia backs global ransomware guidance as sanctions hit Evil Corp trio
07 October 2024
Australia and 38 countries including the US and Britain have agreed new guidance to support organisations hit by ransomware attacks and strengthen cyber resilience...
ICNZ backs action to ‘stop building in dumb places’
07 October 2024
The Insurance Council of New Zealand says a new national direction to councils should stipulate that they avoid building in locations at high risk of natural hazards...
icare structural changes start next week
30 September 2024
Proposed structural changes at icare are expected to get underway on October 8, a spokesperson for the NSW insurer tells insuranceNEWS.com.au...
Opposition criticises pace of advice reforms
30 September 2024
Shadow Minister for Financial Services Luke Howarth has hit out at the Albanese government over its advice reform agenda...
NSW prepares ahead of potentially active bushfire season
30 September 2024
NSW residents have been urged to reduce their property’s fire risk as the state prepares for its bushfire season...
WA delivers revised bushfire policy
30 September 2024
The WA government has released a revised bushfire policy that will remove more than 4500 urban properties from a list of bushfire-prone areas...
NSW flags further strata crackdown
23 September 2024
The NSW government says there is “more to come” on strata reforms after last week passing legislation to improve disclosure and toughen penalties...
Minister limits NZ fire levy rise
23 September 2024
Fire and Emergency New Zealand will raise its insurance levy rate by 2.2% from July 2026, instead of 5.2% as proposed in a public consultation...