03 May 2021
The prudential regulator has selected ten general insurers to pilot a new risk culture survey ahead of a planned launch of the poll to around 60 financial services institutions across banking, insurance and superannuation from the second half of the year...
03 May 2021
Insurers and other financial institutions must not be “caught unawares” by government policy changes in response to a warming climate, Australian Prudential Regulation Authority Chairman Wayne Byres warns...
03 May 2021
Joseph Longo has been appointed Chairman at the Australian Securities and Investments Commission while Sarah Court takes the role of Deputy Chair...
03 May 2021
The Reserve Bank of New Zealand has outlined cyber resilience guidelines targeted at raising awareness amongst boards and senior management in financial services...
26 April 2021
The competition watchdog has dropped May 27 as the date to announce the outcome of its findings looking at how the proposed Aon-Willis Towers Watson merger may affect commercial insurance broking in Australia...
26 April 2021
Brokers who provide claims handling and settling services on behalf of insurers need to be licensed to do so under new laws passed in December, the National Insurance Brokers Association says, but other brokers will not be “caught” by the new regime...
26 April 2021
Insurers plan to work with the corporate regulator to ensure that support of consumers who suffered financial hardship during the pandemic is rolled forward...
26 April 2021
The Australian Securities and Investments Commission is seeking feedback on breach reporting guidance as it prepares for the start of strengthened obligations...
26 April 2021
Consumer groups have called for the Australian Financial Complaints Authority compensation cap to be raised to equal the monetary ceiling on matters it can handle, while also proposing scrapping the non-financial compensation limit...
26 April 2021
The Australian Prudential Regulation Authority has released draft guidance on managing the risks of climate change following industry requests for greater clarity on expectations...
26 April 2021
Australia’s lack of any formal system for assessing a building’s resilience to natural disasters is making it difficult for insurers to set the most appropriate premiums, the Insurance Council of Australia says...
19 April 2021
The Australian Financial Complaints Authority has supported consideration of a UK-style legal test case model for issues with wide-ranging impacts, amid scrutiny over the insurance industry’s approach to business interruption matters...
19 April 2021
The corporate regulator says nine cases of enforcement litigation regarding misconduct in insurance were underway at the start of the year as part of its push to pursue more court action...
19 April 2021
The Australian Law Reform Commission will host two webinars next month related to its work around simplifying corporate and financial services regulation...
19 April 2021
The third in a series of Building Stronger Homes roundtables will be held in Sydney tomorrow, exploring the role of construction standards in national natural disaster resilience...
19 April 2021
Four-wheel-drive vehicle hire business Smart Corporation, which previously traded as Australian 4WD Hire and is now in liquidation, has been fined $1.2 million after making false and misleading representations to consumers about insurance cover...
19 April 2021
The NSW State Insurance Regulatory Authority has extended the role of psychologists and physiotherapists in certifying an injured person’s fitness for work after the change was introduced last year due to the COVID-19 pandemic...
19 April 2021
Plans by the owner of Compare the Market to raise its stake in iSelect look set to go ahead after the competition watchdog says it “will not oppose” the move...
19 April 2021
Rates for compulsory workers’ compensation insurance in WA are set for an overall increase of 4% for the next financial year...
12 April 2021
The Australian Securities and Investments Commission has warned “time is running out” for insurance claims handling firms to apply for licences, which are mandatory by January 1 next year under new laws that were passed last December...