23 November 2020
The Australian Securities and Investments Commission has listed misconduct in industries including insurance as one of its key focus areas as the corporate regulator seeks to use its new regulatory powers to protect consumers...
23 November 2020
Insurers must disclose in their December 31 2020 financial reports the impacts of a new accounting standard that will come into effect globally in about two years...
23 November 2020
New Zealand’s Financial Markets Authority has released for consultation its proposed guidance for advertisements of insurance and other financial products...
16 November 2020
The Federal Government will set up a National Resilience, Relief and Recovery Agency as part of its response to the bushfires royal commission…
16 November 2020
The National Insurance Brokers Association is examining a legislative package tabled in Federal Parliament last week that introduces reforms recommended by the Hayne royal commission around add-on sales, hawking and claims handling…
16 November 2020
Unfair contract terms in standard form contracts will be outlawed and courts given powers to impose civil pecuniary penalties for contraventions, Treasury announced last week following a public consultation on ways to improve protections for small businesses and consumers…
16 November 2020
The Australian Prudential Regulation Authority has called for comment on a revised remuneration standard that aims to lift the focus on non-financial performance and improve corporate culture…
16 November 2020
NSW state insurer icare says it is seeking to address concerns raised by the National Insurance Brokers Association over changes to letters of appointment used in the workers’ compensation scheme…
16 November 2020
The NSW State Insurance Regulatory Authority is seeking feedback on plans to spread COVID-19 workers’ compensation costs across the state scheme amid concerns that they may become significant if claims volumes are high…
16 November 2020
The Australian Securities and Investments Commission has extended the deadline for companies to lodge financial reports by one month for certain balance dates…
16 November 2020
The Australian Securities and Investments Commission has released an update on its licensing and professional registration activities for the last financial year…
09 November 2020
The Australian Competition and Consumer Commission is inviting submissions over moves by comparison site Compare the Market to acquire more shares in competitor iSelect...
09 November 2020
Ending the role of brokers in the NSW home defects compensation scheme would disadvantage builders, drive up premiums and create additional issues if icare were to take over distribution, the National Insurance Brokers Association says...
09 November 2020
NSW state insurer icare says historic non-compliance with contract transparency requirements was caused by "underdeveloped systems and internal confusion"...
09 November 2020
Consultations have restarted on increasing the transparency of insurance data published by the Australian Prudential Regulation Authority after activity on the issue was suspended in March due to the COVID-19 pandemic...
09 November 2020
The Australian Prudential Regulation Authority plans to collect data on cyber and management liability insurance products following interest from insurers in separate reporting of the information...
02 November 2020
The Australian Securities and Investments Commission has warned insurers and brokers will need to be ready for design and distribution obligations from “day one” following a delay in their introduction due to the COVID-19 pandemic...
02 November 2020
The Administrative Appeals Tribunal has affirmed an Australian Securities and Investments Commission decision to ban an insurance provider who operated without a licence...
02 November 2020
New Zealand private insurers will handle claims for policyholders following natural disasters under a partnership model agreed with the Earthquake Commission to simplify and speed the process...
02 November 2020
Allianz Australia and subsidiary AWP Australia have repaid $10 million to 31,500 customers who were “mis-sold” travel insurance...