ASIC’s funding formulas scrutinised
08 May 2017
Insurers and brokers are reviewing draft Treasury regulations that impose levies to fund the Australian Securities and Investments Commission…
Regulatory & Government
NZ taxpayers slam emergency services levy
08 May 2017
New Zealand’s Taxpayers’ Union has attacked a 40% rise in insurance levies to fund the new national emergency service, echoing the claim that policyholders are unfairly penalised…
icare helps expands recovery program for police
08 May 2017
NSW has added a mental health and resilience component to its police force’s reconditioning, rehabilitation and fitness program…
QBE misses out as icare puts faith in EML
01 May 2017
Insurance & Care NSW has selected EML as its sole workers’ compensation agent for new claims from next January 1…
Insurers sign ESL removal pledge
01 May 2017
Insurance company CEOs have signed a declaration vowing they will not apply the emergency services levy on NSW policies after its required removal in July…
ARPC hosts terror risk seminar
01 May 2017
Security experts will discuss current and emerging threats at the Terrorism Risk Insurance Seminar on October 5…
NZ insurers ‘prepared for catastrophe’
01 May 2017
Most New Zealand insurers assess and manage catastrophe risk appropriately, according to a report from the nation’s central bank…
Queensland CTP ‘in good health’
01 May 2017
An independent review has concluded Queensland’s compulsory third party insurance scheme is strong and does not require major reform…
Consumer law review recommends insurance contract reform
24 April 2017
A review of consumer law has recommended applying unfair contract terms to insurance contracts – a move the insurance industry has consistently argued against…
ESL monitor to hold emergency levy removal inquiry
24 April 2017
NSW Emergency Services Levy Insurance Monitor Allan Fels has called a public inquiry requiring companies to explain how they calculate property premiums and outline their plans for removing the levy…
Owners’ corporations ‘ultimate winners’ under ESL reform
24 April 2017
The move to a property-based emergency services funding regime in NSW on July 1 will level the playing field for owners’ corporations, according to Strata Community Insurance MD Paul Keating…
Industry attacked at Senate hearings
24 April 2017
General insurance was described as “a stitch-up” during two days of public hearings in the ongoing Senate inquiry into the industry…
ASIC seeks feedback on peer disciplinary panel
24 April 2017
The Australian Securities and Investments Commission is seeking feedback on a proposed financial services panel responsible for determining if errant individuals should be banned from the industry…
NTC seeks to define ‘control’ in automated cars
24 April 2017
The National Transport Commission wants help defining the terms “control” and “proper control” in road rules relating to automated vehicles…
ASIC co-operates on fintech with Indonesian regulator
24 April 2017
The Australian Securities and Investments Commission has signed a co-operation deal with Indonesian financial services regulator Otoritas Jasa Keuangan to promote financial services innovation…
RBNZ to consult on insurance legislation reform
24 April 2017
The Reserve Bank of New Zealand will hold forums in Auckland and Wellington next month to discuss its review of the Insurance Prudential Supervision Act 2010…
ASIC urges reform on previous premium display
10 April 2017
The Australian Securities and Investments Commission says clearly displaying the previous year’s premium on renewal notices would increase competition and comparability for home and car policies…
NSW gears up for no-fault CTP
10 April 2017
NSW will introduce a hybrid no-fault compulsory third party scheme in December after Parliament last week approved replacing the current at-fault system…
Insurers push for access to driving records
10 April 2017
Drivers with demerit points for speeding and other traffic offences could pay more for insurance, as compulsory third party insurers in NSW push for access to policyholders’ records…
ASIC revokes Pratten brokerage’s licence
10 April 2017
The Australian Securities and Investments Commission has cancelled Rural & General Insurance Broking’s financial services licence, which was suspended last October…