NSW extends its abuse claim cover for care providers
28 November 2022
NSW has extended its indemnity program to cover providers of out of home care for physical and sexual abuse claims...
Regulatory & Government
ICNZ says new bill provides 'greatly improved' natural hazards data
28 November 2022
New Zealand insurers have backed the introduction of the Local Government Official Information and Meetings Amendment Bill...
FAR bill hits snag over civil penalties measures
28 November 2022
Senate passage of the Financial Accountability Regime stalled last week after the Albanese Government decided not to press ahead with an amendment to include civil penalties of up to $1.1 million for individual executive breaches...
NTI welcomes changes to address 'ransom' tow truck costs
28 November 2022
Transport and logistics specialist NTI has praised recently implemented changes to WA tow truck legislation that provide protections to drivers from additional service costs...
ARPC names COO
28 November 2022
The Australian Reinsurance Pool Corporation has appointed Victoria Simpson as COO...
NSW Government expands bushfire education program
28 November 2022
The NSW Government has announced a $400,000 boost for its school bushfire education program to improve preparedness for future events...
AFCA apologises for general insurance complaint delays
21 November 2022
The Australian Financial Complaints Authority says its process of allocating general insurance complaints to the case management stage has been delayed by a “sudden and significant increase in insurance claims”...
ICA backs advice review proposal on conflicted remuneration
21 November 2022
The Insurance Council of Australia has supported a Quality of Advice review proposal to continue the general insurance exemption from the ban on conflicted remuneration, while consumer groups are calling for an end to commissions...
Bushfire resilience app to be rolled out nationally
21 November 2022
A Bushfire Resilience Star Rating App will be rolled out nationally next year following a recent pilot with the Shoalhaven community, which was severely affected by the Black Summer bushfires...
NZ regulator proposes approval measure for 'relevant' officers appointment
21 November 2022
The Reserve Bank of New Zealand has proposed requiring insurers to seek its approval for appointments of “relevant” officers, including CEO, director and CFO, in a consultation paper focused on improving the Insurance Prudential Supervision Act 2010...
Federal Government to launch international taskforce against cyber crime
14 November 2022
The Federal Government says it will launch a “standing operation” to investigate and disrupt the practices of cyber crime syndicates, with a focus on ransomware threat groups in the light of the Optus and Medibank data breaches...
icare board removes executive performance incentives
14 November 2022
The icare board says performance incentives will be removed from executive remuneration reward arrangements following a comprehensive review to ensure its framework is “fair competitive and transparent”...
NSW launches long-term care program for accident survivors
14 November 2022
The NSW Government announced today CTP Care – a program to provide long-term support for road accident survivors – will formally commence on December 1, following a pilot run that has been operating since October 2020...
ALRC to host webinar on financial laws renovation
14 November 2022
The Australian Law Reform Commission will host a webinar on Wednesday on proposals to develop more “user-friendly” legislation and regulation covering financial services...
ICA applauds improvements to WA tow truck pricing transparency
14 November 2022
The Insurance Council of Australia has welcomed reforms from the WA Government requiring tow truck operators to disclose maximum towing and storage fees...
ARPC launches new website
14 November 2022
The Australian Reinsurance Pool Corporation has launched a new website as it embarks on a “major strategic project” to support insurers, policyholders and other stakeholders...
Claims handling on regulator's radar after catastrophes
07 November 2022
The Australian Securities and Investments Commissions says the industry may have to reconsider its claim handling approach as “serial” severe weather events become normal...
Federal Government commits $50 million for coastal mitigation
07 November 2022
The Federal Government has committed $50 million on 34 projects including seawalls and breakwaters to reduce the risks from storm surges and coastal inundation and erosion...
Insurance flagged for next climate risk assessment
07 November 2022
Financial regulators are turning their attention to an assessment of insurance climate vulnerability impacts following the completion of a project examining banking...
SIRA launches return to work inspectorate
07 November 2022
NSW’s State Insurance Regulatory Authority has established a new team of inspectors to ensure employers are fulfilling requirements for workers returning from injury...