SIRA report reveals CTP insurers' claims performance
07 June 2021
The NSW State Insurance Regulatory Authority has released its compulsory third party claims experience and customer feedback comparison report...
Regulatory & Government
NSW study flags insurance options to protect farmers
07 June 2021
A $2 million NSW government-funded farm risk management study has flagged some insurance-related tools for the agricultural sector to consider while dismissing the viability of using public finances to set up a farm income protection insurance market...
NSW floodplain reforms an important step: IAG
07 June 2021
IAG has welcomed NSW Government reforms to land use planning for flood-prone areas, which the insurer says will help to protect lives, property and infrastructure...
RBNZ says Accellion cyber attack cost $3.3 million
07 June 2021
The Reserve Bank of New Zealand calculates the final cost of its response to a cyber attack in December will be around $NZ3.5 million and says it was “over reliant” on file transfer system provider Accellion to alert it to vulnerabilities...
'Scrapping' schedule can help underinsured property investors
07 June 2021
A tax depreciation schedule can help property investors claw back thousands of dollars after natural disasters and provide some relief for many who are currently underinsured, according to BMT Tax Depreciation...
AFCA names new insurance lead ombudsman
31 May 2021
Emma Curtis is to take the role of Lead Ombudsman, Insurance at the Australian Financial Complaints Authority, effective August 9...
Federal Government to finalise class action response
31 May 2021
The Federal Government will finalise a response on litigation funding and class action reform proposals after completing further consultations this year...
NZ delays decision on Aon, WTW merger to July
31 May 2021
New Zealand’s Commerce Commission has extended a deadline for a decision on Aon’s merger with Willis Towers Watson until July 2...
NSW issues new flood-prone land planning rules
31 May 2021
The NSW Government will host two webinar sessions next month outlining new flood-prone land planning rules and guidelines which it says will promote “safety and certainty”...
Principles approach weighed in Corporations Act review
31 May 2021
The Australian Law Reform Commission is considering whether a more principles-based approach should be applied to financial services regulation in a bid to remove confusing complexity...
WorkSafe Victoria recovers $18,000 from worker who hid delivery income
31 May 2021
A Victorian man has been convicted of fraudulently receiving more than $18,000 in injury compensation payments and ordered to pay back the full amount to WorkSafe Victoria...
SIRA appoints new CEO
31 May 2021
The NSW State Insurance Regulatory Authority has appointed Adam Dent as its new CEO, starting July 5...
Government backing of locally-led recovery 'vital' for disaster resilience
31 May 2021
A virtual panel urges that disaster management for resilience be a core concern for leaders and says locally-led recovery from natural disasters, supported by state and federal governments, is key to improving hazard resilience within Australian communities...
Reinsurance pool feedback due mid-June
24 May 2021
A Federal Treasury-led taskforce examining the design of a northern Australia reinsurance pool has called for feedback by June 18 as it works toward having the program in place by the middle of next year...
Treasury proposes industry levy of $28.7 million
24 May 2021
About $28.7 million in total levies is set to be recovered from the general insurance industry to support the prudential supervision of the sector, according to a discussion paper from Treasury...
Financial law complexity 'affects us all', ALRC warns
24 May 2021
Financial services legislation and regulatory complexity is making it difficult for people to understand their legal obligations, the Australian Law Reform Commission has warned...
Victoria's insurance tax revenue forecast 'disappointing': ICA
24 May 2021
The Victorian Government predicts revenue from insurance taxes will increase by 7.2% to $1.6 billion in the next financial year...
NZ considers unemployment insurance scheme
24 May 2021
New Zealand is designing a social unemployment insurance scheme to enable workers who lose their job to retain about 80% of their income for a period of time...
Adviser's licence cancelled after failing to pay AFCA ruling
24 May 2021
ASIC has cancelled the Australian financial services licence of Robert Starky, a financial services provider based in Stanwell Tops, NSW, after he failed to pay as directed in a ruling by the Australian Financial Complaints Authority...
WA issues insurance guidance for property owners affected by Pindan administration
24 May 2021
The WA Government has advised property owners who may be affected by the closure of Pindan Group to immediately contact their home indemnity insurance provider, QBE Insurance...