ICA seeks changes to APRA risk standard
17 November 2014
The Insurance Council of Australia wants further changes to an Australian Prudential Regulation Authority risk management standard due to take effect in January…
Regulatory & Government
Axe reinsurance claims reports, says regulator
17 November 2014
The Australian Prudential Regulation Authority has proposed that reinsurers should not be required to report claims data to it…
Mental injuries push up Comcare premiums
17 November 2014
Comcare, the Federal Government’s workers’ compensation scheme, is among the most expensive in the country after premiums were lifted to meet the increasing cost of psychological injury claims…
ICA backs draft towing rules
17 November 2014
The Insurance Council of Australia has given in-principle support to draft recommendations for the NSW tow truck industry…
ASIC opens tenders for north Queensland aggregator
10 November 2014
The Australian Securities and Investments Commission is seeking tenders to create a home and contents insurance comparison website for north Queensland…
Actuary ready to report on north Queensland
10 November 2014
The Australian Government Actuary has finished its report comparing home and contents premiums in north Queensland with the rest of the country…
NSW enhances greenslip data for insurers
10 November 2014
Insurers that supply compulsory third party cover in NSW will have real-time access to Roads and Maritime Services vehicle registration data under plans to improve quoting…
Industry calls for investment in hazard data
10 November 2014
Insurers continue to lobby the Productivity Commission for a national platform for information on natural disaster hazards…
WA tables work health safety bill
10 November 2014
The WA Government has tabled its Work Health and Safety Bill, allowing public consultation until January 30…
ASIC budget cuts to hit surveillance efforts
03 November 2014
The Australian Securities and Investments Commission believes budget cuts imposed by the Federal Government will affect the service it can deliver…
Roundtable wants Canberra to front up on disaster management
03 November 2014
A business group has called on the Federal Government to play a “core role” in natural disaster management and arrangements…
Insurers holding back on home building advice: ASIC
03 November 2014
Consumers risk buying inadequate home building insurance due to a lack of assistance from insurers, according to the Australian Securities and Investments Commission…
NIBA urges open mind on market intervention
03 November 2014
The Productivity Commission should not dismiss the concept of government intervention in property insurance markets based on overseas experience, the National Insurance Brokers Association says…
APRA monitors catastrophe risks, investments
03 November 2014
The Australian Prudential Regulation Authority says catastrophe risk management, pressure from low interest rates and commercial pricing are current areas of focus in its regulation of general insurance…
IAIS sets out five-year plan
03 November 2014
The International Association of Insurance Supervisors approved seven goals in a new five-year plan at its AGM in Amsterdam last week…
Suncorp completes compliance revamp
03 November 2014
Suncorp has upgraded its general insurance compliance system as part of a wider independent review and remediation process ordered by the Australian Securities and Investments Commission…
Terrorism pool posts premium revenue increase
03 November 2014
The Australian Reinsurance Pool Corporation received premium revenue of $129.7 million in the year to June 30, up 1.9% on the previous year and 2.9% better than expected…
Commission aims to right Wrongs Act
03 November 2014
The Victorian Competition and Efficiency Commission recommends reforming the Wrongs Act to improve compensation for claimants…
NZ regulator prepares new insurer survey
03 November 2014
The Reserve Bank of New Zealand will run trials of a new quarterly insurer survey early next year…
Capital adequacy reports leave APRA unimpressed
27 October 2014
Insurers have been told to improve their capital adequacy reports following a review by the Australian Prudential Regulation Authority…