Stephen Jones becomes Financial Services Minister
06 June 2022
Prime Minister Anthony Albanese’s new ministry has been sworn into office, with Stephen Jones becoming Assistant Treasurer and Financial Services Minister...
Regulatory & Government
SIRA looks at icare processes for Metricon
06 June 2022
The State Insurance Regulatory Authority is looking at icare processes in relation to home building compensation cover and construction company Metricon...
AFCA launches new fee model
06 June 2022
The Australian Financial Complaints Authority’s new “user pays” fee structure kicks in on July 1...
ASIC urged to pursue action against Youpla officers
06 June 2022
A coalition of consumer groups has written to the Australian Securities and Investments Commission urging it to hold Youpla directors and other office holders accountable for financial harm caused to First Nations people who purchased worthless funeral plans...
RBNZ releases review version of interim solvency standard
06 June 2022
The Reserve Bank of New Zealand has published a review version of an insurance interim solvency standard and says it expects the finalised document will be released by the end of September...
Deadline nears for advice review submissions
30 May 2022
Submissions on a consultation paper released by the Quality of Advice review, which is looking at issues including broker commissions, are due by Friday...
Insurers push for NSW action on managed retreats
30 May 2022
The Insurance Council of Australia has encouraged the NSW Government to look at a retreat of homes and businesses from areas such as North and South Lismore, as highlighted in the city council’s discussion paper, and says it’s important decisions aren’t delayed...
NSW flood inquiries hold community meetings
30 May 2022
An independent NSW flood inquiry and a separate parliamentary select committee inquiry into the catastrophe response are both holding community meetings in affected areas over the next few weeks...
Subsidies required to boost home resilience: Swiss Re
30 May 2022
Governments should offer subsidies to homeowners so they can afford to pay for flood mitigation measures, Swiss Re says...
RBNZ undecided on merits of policy guarantee scheme
30 May 2022
The Reserve Bank of New Zealand says it is still considering whether or not to proceed with further work on a policy guarantee scheme after industry submissions were “universally against” while policyholder focus group views were mixed...
Treasury, finance ministers sworn in after Labor victory
23 May 2022
Jim Chalmers has been sworn in as Treasurer and Katy Gallagher as Finance Minister following the Australian Labor Party’s victory in Saturday’s federal election...
NSW floods inquiry extends submissions deadline
23 May 2022
The deadline for submissions to the NSW inquiry into the state’s flooding has been extended by five weeks to ensure everyone affected has the opportunity to contribute...
icare announces new education program for workers' compensation
23 May 2022
NSW state insurer icare has partnered with the Personal Injury Educational Foundation to establish an educational scheme for workers’ compensation claim professionals as part of its Professional Standards Framework...
Victoria steps up workplace silica protection measures
23 May 2022
New obligations in Victoria aimed at protecting workers from exposure to deadly crystalline silica dust have commenced this month...
Insurers seek more time on NZ natural hazards bill reforms
23 May 2022
Insurers have called for more time to introduce changes that will be needed under proposed legislation to reform the Earthquake Commission...
APRA flags 'poor product design' in affordability debate
16 May 2022
The Australian Prudential Regulation Authority says “poor product design” is contributing to insurance affordability issues, and has pledged to work with insurers to make improvements...
AFCA work aims for clarity around key fairness role
16 May 2022
The Australian Financial Complaints Authority has completed a program of work to provide greater clarity around its fairness responsibilities while providing tools to assist all parties involved in the disputes process...
NSW launches investigation over Mascot Towers
16 May 2022
The NSW Government is launching an investigation into the conduct of the former City of Botany Bay regarding Mascot Towers, which was evacuated in 2019 after fears the building was unsafe...
Queensland launches $740 million home resilience scheme
16 May 2022
Queensland’s Resilient Homes Fund is open, with residents invited to apply for buy-backs or grants to raise, repair, or retrofit their home...
ICNZ seeks graduated climate change reporting
16 May 2022
The Insurance Council of New Zealand has proposed a more graduated approach to reporting climate change impacts on financials, as disclosure rules are considered ahead of new reforms coming into effect...