25 October 2021
The Australian Prudential Regulation Authority says insurance accessibility and affordability challenges for parts of the community are likely to be exacerbated by increases in the frequency and severity of natural catastrophes, and the issue is a key focus...
25 October 2021
The NSW Government aims to “weed out” untrustworthy apartment developers with the introduction of decennial liability insurance to guarantee against major defects for up to 10 years and provide a safety net for consumers which is currently lacking in the multi-unit high rise sector...
25 October 2021
The Australian Prudential Regulation Authority says finalised guidance for a new remuneration standard developed to rein in poor practices has been released, allowing insurers and other firms plenty of time to put in place required arrangements...
25 October 2021
The Australian Reinsurance Pool Corporation has reported a better-than-expected operating result of $84.9 million due to rate increases in underlying commercial insurance premiums...
25 October 2021
Communities across NSW have been warned against bushfire complacency and to make preparations as the high-risk period arrives...
18 October 2021
Two major reports last week criticised the payment of ransoms to cyber criminals, putting pressure on the insurance industry for reimbursing clients under attack...
18 October 2021
Uncertainty around business interruption cover during the pandemic has persisted for too long and has stemmed from insurers’ inadequate systems and risk management processes, Australian Securities and Investments Commission Deputy Chairman Karen Chester said...
18 October 2021
Insurers should seek to limit pricing cycle volatility and look beyond significant premium increases and withdrawal of cover in responding to market issues, Australian Prudential Regulation Authority Deputy Chairman Helen Rowell says...
18 October 2021
A consultation process is settling the final details for a cyclone reinsurance pool that is on track to take effect next July, Assistant Treasurer Michael Sukkar says...
18 October 2021
The Victorian government has accepted all 15 recommendations from the final phase of an independent inquiry into 2019/20 bushfires that devasted large parts of the state’s North East, Gippsland and Alpine regions...
11 October 2021
The Australian Financial Complaints Authority says it will work “constructively” with the insurance industry, following the start this month of new internal dispute resolution obligations as set out by the corporate regulator...
11 October 2021
Consumer Action Law Centre says the Hayne-backed reforms that commenced this month will help improve conduct in the financial services sector...
11 October 2021
New research from Deloitte Access Economics quantifies the cost of natural disasters and recommends national investment in disaster resilience and mitigation as the most effective way to protect people and communities...
11 October 2021
The NSW State Insurance Regulatory Authority is consulting on workers’ compensation reforms recommended by the McDougall review and on possible COVID-related changes as pandemic impacts continue...
11 October 2021
The Queensland government has launched a six-week Get Ready advertising campaign urging communities in the state to prepare for this year’s natural disaster season..
04 October 2021
The industry is ready for a raft of new regulations that are commencing this month, having made “sweeping” changes to their systems and processes in readiness for the Hayne-backed reforms...
04 October 2021
Class action funders and lawyers face further restrictions under draft legislation that the Federal Government has released following recommendations from a Parliamentary committee inquiry...
04 October 2021
The New Zealand Earthquake Commission cap for residential building cover will double to $NZ300,000 from October next year as the Government takes on a larger share of the risk...
04 October 2021
The Chairman of an NSW Parliamentary Inquiry into plans to raise the height of the Warragamba Dam wall says future hearings will examine an Environmental Impact Statement released for consultation last week...
04 October 2021
The NSW Government says the State Emergency Service will be bolstered by a $4.6 million investment in prototype rescue vehicles including six “unimogs” that can operate in flood waters up to 1.2 metres deep...