Treasury examining natural hazard definition priorities
11 September 2023
Federal Treasury says it is looking at which natural hazard definitions are most in need of standardisation and has flagged future public consultations...
Regulatory & Government
Industry set for tough new accountability regime after FAR passed
11 September 2023
The Financial Accountability Regime, the last final major Hayne royal commission recommendation, is set to commence after securing passage in the Senate last week...
SA reviews builders’ warranty scheme after insolvencies
11 September 2023
The SA Government expects to start consultation soon on ways to strengthen the state’s builders’ warranty insurance scheme after the collapse of construction firms exposed cracks in the current setup...
NSW invests more funds in reconstruction authority
11 September 2023
The NSW Government has announced an additional $115 million investment to the NSW Reconstruction Authority...
APRA review finds ‘step change’ in remuneration practices
11 September 2023
Australian Prudential Regulation Authority-regulated entities are making efforts to improve remuneration practices, according to a review by the regulator...
NZ governance review finds room for improvement
11 September 2023
A sample review of 29 New Zealand-regulated entities including insurers has found a number of good governance practices as well as some that were below expectations...
NZ Government to buy back Nelson homes
11 September 2023
The NZ Government has announced it will provide buybacks for a small group of homeowners within the Nelson region, pending an agreement with the local council...
Governments set for bushfire summit, back disaster risk reduction plan
04 September 2023
Federal and state governments will hold an inaugural two-day National Bushfire Preparedness Summit this month as weather forecasters warn this summer will likely be drier and hotter, raising the risk of fires breaking out...
DDO, technology risks among ASIC priorities
04 September 2023
The Australian Securities and Investments Commission will focus on technology risks and design and distribution practices as part of strategic priorities, the regulator’s latest corporate plan says...
Floods inquiry invites feedback through online survey
04 September 2023
The Parliamentary Committee inquiry into insurers’ responses to last year’s floods has invited people affected by the natural disasters to share their experiences through an online survey...
APRA corporate plan lists disasters, premium affordability as focus areas
04 September 2023
The Australian Prudential Regulation Authority has listed increased natural disaster frequency and severity as among its focus areas for the next four years...
Queensland offers third set of coastal grants
04 September 2023
The Queensland Government will provide $3.3 million in funding for 10 coastal councils for projects to help protect against rising sea levels...
ARPC sets direction after ‘pivotal period’
04 September 2023
The Australian Reinsurance Pool Corporation says the formal launch of the cyclone pool introduced a pivotal period for the organisation and refining the scheme’s operations across multiple functions is among key focus areas...
ASIC seeks IAG financial penalty over loyalty discounts
28 August 2023
The Australian Securities and Investments Commission has asked the Federal Court to impose financial penalties against IAG over alleged harm resulting from home insurance loyalty discount representations that it says were misleading...
Suncorp blocked bank sale appeal warns on implications
28 August 2023
Suncorp has warned in an appeal to the Australian Competition Tribunal over the blocked sale of its bank to ANZ that a proposed investment in a Queensland disaster recovery centre would not be possible to the same extent if the deal doesn’t proceed...
SIRA launches builder insurance audit
28 August 2023
The NSW State Insurance Regulatory Authority is launching an audit of residential building businesses to ensure they have compulsory home building compensation insurance...
ASIC welcomes three commissioner appointments
28 August 2023
The head of the Australian Securities and Investments Commission has welcomed the appointment by Treasurer Jim Chalmers of three new Commissioners to the financial regulator...
RBNZ says action required on industry’s climate approach
28 August 2023
A survey from the Reserve Bank of New Zealand – Te Putea Matua has highlighted climate-related risks are at the forefront of financial service firms’ concerns, but indicates activity on tackling the issue has been limited...
NSW names disaster recovery leader
28 August 2023
A NSW state MP who lives in the Northern Rivers, which was ravaged by unprecedented floods in early 2022, has been named Parliamentary Secretary for Disaster Recovery...
APRA warns of technology threat
28 August 2023
The Australian Prudential Regulation Authority has highlighted the need for financial firms to manage risks stemming from an increased reliance on new technologies...