APRA tells industry to check outsourcing practices
24 March 2025
The prudential regulator has urged insurers to review their outsourcing practices in preparation for the start of CPS 230 Operational Risk Management on July 1...
Regulatory & Government
NSW tables ban on ‘abhorrent’ claims farming
24 March 2025
The NSW government has taken another step towards introducing a ban on claims farming...
Super fund penalised $10.5 million over greenwashing
24 March 2025
The Federal Court has ordered Active Super to pay $10.5 million for making misleading claims about its green credentials...
State adds car mechanics to skill recognition program
24 March 2025
Vehicle repairers will be added to a NSW skills recognition scheme that streamlines the movement of workers between states, in a move welcomed by the Insurance Council of Australia...
Reform to make battery suppliers ‘take accountability’
24 March 2025
The NSW government has introduced legislation targeting suppliers’ handling and disposal of lithium-ion batteries and other products that pose safety and the environmental threats...
State grant scheme backs early action on mental injuries
24 March 2025
Return to Work Victoria will provide grants of up to $500,000 for new programs to help mentally injured people re-enter the workforce quicker...
Watchdog consults on guidelines for merger reform
24 March 2025
The Australian Competition and Consumer Commission is consulting on draft assessment guidelines for new merger notifications laws that will apply from next year...
Uninsured builder fined in ‘cowboy’ clampdown
17 March 2025
A Sydney builder has been hit with a $473,000 fine for more than 40 offences relating to uninsured work, unlicensed jobs and excessive deposits...
Storm-hit state names disaster recovery co-ordinators
17 March 2025
Queensland has appointed recovery co-ordinators to help communities clean up and rebuild after Ex-Tropical Cyclone Alfred...
Queensland offers resilient rebuild grants
17 March 2025
The Queensland government has introduced resilience-focused rebuilding grants for flood-hit homeowners in the state’s north...
Victoria spreads word after killer stone ban
17 March 2025
The Victorian government says it has advised more than 1100 construction and stonemason industry operators on adapting to the recent crackdown on engineered stone...
APRA consults on governance changes for insurers
10 March 2025
The Australian Prudential Regulation Authority is seeking submissions on proposed changes to its governance standards for insurers, banks and super trustees...
Coalition backtracks on break-up threat
10 March 2025
Shadow treasurer Angus Taylor says the Coalition’s divestment plans don't include the insurance industry, backing away from leader Peter Dutton’s comments last month...
ACCC prepares for merger rule reform
10 March 2025
The competition watchdog had released guidance ahead of tougher merger notification laws, and has warned it will be on the lookout for anti-competitive acquisitions during the transition period...
Assessor signs off icare’s three-year reform program
10 March 2025
Independent assurer Promontory Australia has issued a closure memo for NSW state insurer icare’s program to improve accountability, culture, performance and other areas...
Victoria lines up workers’ comp overhaul
10 March 2025
The Victorian government has introduced a bill to strengthen its workers’ compensation scheme following an independent review of the state’s claims management...
NSW sets up silica taskforce for tunnel works
10 March 2025
The NSW government will create an expert taskforce to address silica-related risks to workers on tunnelling projects...
Cyclone pool coverage tops 3 million buildings
03 March 2025
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
03 March 2025
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
03 March 2025
Former CBL Group CFO Carden Mulholland breached market continuous disclosure laws, New Zealand’s High Court has found in a landmark decision...