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Regulatory & Government

ICA suggests transition period for ASIC fee reform

29 January 2018

Treasury should consider an “appropriate” transition period for implementation of the fee-for-service funding model that takes effect on July 1, the Insurance Council of Australia says in a submission…

RBNZ fills insurance supervision role

29 January 2018

The Reserve Bank of New Zealand has appointed Richard Dean as Manager Insurance Oversight following the retirement last Friday of Pete Brady…

Guidance issued on SME duty exemption

29 January 2018

Revenue NSW has issued a practice note relating to the general insurance small business exemption, which became available on January 1…

icare trials mental health strategy for SMEs

29 January 2018

Insurance & Care NSW and national mental health group Everymind will trial an innovative digital strategy to help improve wellbeing among small businesses in Parramatta, Lake Macquarie and Singleton…

ICA seeks brake on proposed ASIC directions power

11 December 2017

Stronger powers proposed for the Australian Securities and Investments Commission should not be introduced unless accompanied by checks and balances, the Insurance Council of Australia has warned…

Draft sandbox rules ‘need more flexibility’

11 December 2017

Proposed fintech “sandbox” regulations will help insurers test innovations but should be further refined so market benefits can be better assessed, according to the Insurance Council of Australia…

Gallagher Bassett wins icare contract

11 December 2017

Gallagher Bassett has won a contract to be the new general claims management services provider for Insurance & Care NSW (icare)…

IAIS seeks feedback on systemic risk approach

11 December 2017

The International Association of Insurance Supervisors has produced an interim public consultation paper on an activities-based approach to systemic risk in the sector…

Credit hire business ‘misled customers’

04 December 2017

Credit hire company Compass Claims will change its advertising and sales practices after an Australian Competition and Consumer Commission investigation…

ICA welcomes ‘fairer’ NSW CTP scheme

04 December 2017

NSW compulsory third party reforms that took effect last Friday will bring lower average premiums and allow faster payment of claims, the Insurance Council of Australia says…