SIRA releases CTP scheme review discussion paper
12 July 2021
The NSW State Insurance Regulatory Authority is seeking feedback from injured people, organisations and the public on its planned review of the state’s compulsory third party scheme...
Regulatory & Government
NSW sets up online hub to smooth disaster support
12 July 2021
The NSW Government has set up an online hub that includes information from more than 17 state and federal agencies to help communities recovering from bushfires, floods and other natural disasters...
National comparison website 'would fail'
05 July 2021
The Australian Competition and Consumer Commission’s recommendation for a national home insurance comparison website won’t do anything to assist the affordability issue in northern Australia...
Cyber back on ARPC's agenda in triennial review
05 July 2021
The Federal Government will re-examine whether terrorism cover provided by the Australian Reinsurance Pool Corporation should include property damage from cyber attacks after a previous review determined it is not required...
Travel insurance complaints fall 22% as Australians stay home
05 July 2021
Complaints relating to travel insurance fell 22% in the year to June as international and state border rules limited movement and Australians stayed at home instead of holidaying or conducting business trips...
Choice pushes for delayed 'last resort' compo scheme
05 July 2021
Consumer group Choice wants the Federal Government to get on and pass laws to establish a compensation scheme of last resort...
icare contacting workers over payment reassessments
05 July 2021
NSW state insurer icare has written to more than 70,000 workers and plans to send a further 210,000 letters as part of action to correct past workers’ compensation underpayments...
Cyclone pool 'should be extended to all Australian perils'
28 June 2021
Queensland-based RACQ says the scope of the proposed cyclone reinsurance pool announced by the Federal Government should be extended to all major natural perils across the country...
New bill proposes forced ransomware payment disclosure
28 June 2021
Australia’s Shadow Assistant Minister for Cyber Security Tim Watts has put forward a new bill making it compulsory that companies intending to pay a ransomware demand inform the Australian Cyber Security Centre...
NSW Budget projects rise in insurance tax revenue
28 June 2021
The NSW Government has released its 2021/22 Budget, forecasting insurance duty revenue will increase $46.1 million, or 0.9%, over the four years to 2024/25...
Parliament passes bill boosting ASIC, APRA scrutiny
28 June 2021
Federal Parliament has passed legislation to establish a new Financial Regulator Assessment Authority, increasing oversight of Australia’s twin-peak regulators...
Elaine Collins gets new term as ARPC director
28 June 2021
The Federal Government has re-appointed Zurich Australia Insurance Non-Executive Director Elaine Collins to serve another three-year term as board member of the Australian Reinsurance Pool Corporation...
Government drafts bill to modernise business communications
28 June 2021
The Federal Government is seeking feedback on draft legislation aimed at modernising business communications...
NSW to fund robots, space technology for bushfire preparedness
21 June 2021
The NSW government will spend an extra $268.2 million over four years to battle bushfire, funding drones, two black hawk helicopters, strategic fire trails and upgrades to emergency equipment...
VMIA updates list of builders' warranty insurance distributors
21 June 2021
The state-run Victorian Managed Insurance Authority has changed its panel of distributors for compulsory domestic building insurance following a tender process...
SIRA invites submissions as NSW CTP scheme is reviewed
21 June 2021
NSW’s State Insurance Regulatory Authority is inviting public submissions relating to a statutory review of the state’s Compulsory Third Party scheme, which was introduced in 2017...
Queensland Budget 'fails to meet' mitigation, resilience challenges
21 June 2021
The insurance industry has responded with disappointment to the Queensland Government’s 2021/22 Budget, saying it falls short of what is needed to protect the state from extreme weather events...
SIRA appoints motor accidents insurance leader
21 June 2021
The NSW State Insurance Regulatory Authority has appointed Petrina Casey as Executive Director of Motor Accidents Insurance Regulation...
Treasury Taskforce hosts pool details meeting
07 June 2021
Representatives from major insurers and the Insurance Council of Australia have attended a roundtable with a Treasury-led taskforce as part of preliminary consultations on the Federal Government’s cyclone reinsurance pool...
icare cuts jobs, refines roles in latest shake-up
07 June 2021
NSW state-owned insurer icare is completing consultations over a reduction in headcount and is refining workplace roles as it seeks to streamline the organisation and improve efficiency and performance...