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Regulatory & Government

APRA warns of data back-up weaknesses

17 June 2024

The Australian Prudential Regulation Authority has urged insurers to improve data back-up procedures after it observed common problems that can hamper restoration of hacked operations...

NZ court delays trial over CBL float 

17 June 2024

New Zealand’s High Court has adjourned a trial over documentation supporting CBL Corporation’s initial public offer due to other legal action...

Regulator finalises operational resilience guide

17 June 2024

The Australian Prudential Regulation Authority has finalised its cross-industry guidance on operational resilience after a consultation with insurers, banks, superannuation trustees and other stakeholders...

Queensland backs worker silicosis study

17 June 2024

The University of Queensland will receive almost $600,000 in state government funding to research return to work practices for employees with early-stage lung dust diseases...

Labor rectifies ‘unintended’ commission ban

03 June 2024

The Albanese government has fixed wording errors in a bill that would have accidentally outlawed commissions for general insurance brokers and other intermediaries providing general advice...

Canberra provides detail on affordability taskforce

03 June 2024

The Albanese government says its Insurance Affordability and Natural Hazards Risk Reduction Taskforce will ensure a “cross-government approach” to risk reduction and “other near-term solutions”...

Industry’s APRA levy to top $32 million

03 June 2024

Treasury calculates the general insurance industry will pay about $32.7 million in levies to fund the Australian Prudential Regulation Authority’s operational costs in the coming financial year, rising from $29.5 million in 2023-24...

ICNZ hails budget’s resilience spending 

03 June 2024

The Insurance Council of New Zealand has welcomed the budget’s resilience funding for communities hit by the Auckland flooding and Cyclone Gabrielle, while urging a continued focus on reducing risks...

AI threatens public utility of cover, MP warns 

27 May 2024

Artificial intelligence’s ability to “drill down” to an individual customer’s risk profile and set one-on-one insurance premiums “undermines the whole market model”, Greens MP David Shoebridge says...

Industry braces for another inquiry

20 May 2024

Senators have launched an inquiry into insurance challenges, specifically around the impact of climate risk on premiums and coverage...