14 December 2020
Australian Reinsurance Pool Corporation CEO Christopher Wallace says extending the mandate of terrorism pools to pandemics could assist the insurance industry as its reputation is hit by COVID-19 related claim denials...
14 December 2020
Parliament has passed the legislation for new insolvency laws that could potentially impact trade credit insurers...
14 December 2020
The Insurance Council of Australia has proposed an accreditation process for rehabilitation providers in the NSW compulsory third party scheme in a submission to the State Insurance Regulatory Authority...
14 December 2020
The Queensland Government has partnered with CSIRO to develop a guide for improving the bushfire resilience of new and existing homes...
07 December 2020
The Australian Securities and Investments Commission is inviting financial services industry feedback on proposed changes to its consumer remediation guidance...
07 December 2020
The Council of Financial Regulators has called on insurers to move as quickly as possible to resolve uncertainty around business interruption cover and to make payments on claims where policies respond...
07 December 2020
Former Suncorp CEO Michael Cameron has joined the board of NSW state-owned insurer icare as it introduces reforms to improve its performance and overhauls its leadership...
07 December 2020
Lawyers have weighed in on a recent court case where it emerged the Australian Financial Complaints Authority apparently breached rules which state disputes must be handled fairly and impartially...
07 December 2020
Climate change risks, sometimes dubbed “green swan” events, must be thoroughly understood to protect the health of financial systems, Australia’s corporate regulator says...
07 December 2020
Pacific International Insurance has been issued “formal directions” by the Reserve Bank of New Zealand after it repeatedly failed to comply with its reporting and disclosure obligations...
30 November 2020
Applications for claims handling licences will be accepted by the Australian Securities and Investments Commission from January 1, if the Bill for the Hayne royal commission proposal is passed in Parliament before the end of this year...
30 November 2020
The Australian Securities and Investments Commission has sent a warning that firms must handle claims fairly after the Federal Court last week ruled Youi breached utmost good faith requirements under the Insurance Contracts Act on five occasions...
30 November 2020
NSW state insurer icare will conduct a workers’ compensation claims services tender next year after extending the contract of current provider EML for 12 months, while making changes to improve performance...
30 November 2020
The Australian Prudential Regulation Authority has warned it will take enforcement action against insurers and other financial services providers that fail to comply with their cyber security obligations...
30 November 2020
Complaints about insurance have jumped 104% so far this year, the Australian Competition and Consumer Commission reveals...
30 November 2020
The Australian Prudential Regulation Authority is reviewing reporting and capital frameworks as part of preparations for new accounting standards...
30 November 2020
Treasury is currently seeking submissions from industries and other stakeholders on their priorities for the 2021/22 budget...
23 November 2020
The National Insurance Brokers Association has repeated its concern about the NSW Emergency Services Levy and the amount that taxes on insurance add to premiums...
23 November 2020
The Australian Securities and Investments Commission is reviewing rules that have acted as a disincentive for brokers and advisers to provide personal advice across a limited range of areas...
23 November 2020
NSW state insurer icare says the “sheer volume” of information required by legislation and the complexity of calculations was behind the errors in pre-injury average weekly earnings paid to many workers...