15 February 2021
The corporate regulator has disqualified Adrian Christopher Coronno and Domenico Luvera of Queensland-based Pacific Pines from managing corporations for five years after they failed to properly carry out their duties as directors in four failed businesses that provided a range of services including insurance...
08 February 2021
The Australian Prudential Regulation Authority has listed business interruption insurance as one of its key focus areas in an information paper outlining its Supervision Priorities for the next 12-18 months...
08 February 2021
A High Court ruling that found two Westpac subsidiaries breached financial services laws when they went beyond their licence and provided personal advice is being examined by the National Insurance Brokers Association...
08 February 2021
A man caught driving taxis while receiving weekly payments from Victoria's workers’ compensation scheme after he injured his arm while working as a mechanic will repay more than two years of benefits...
08 February 2021
The Actuaries Institute has urged the government to fund mitigation works and the strengthening of building codes in a pre-Budget submission to Federal Treasury in which it addresses climate change and the need for measures to help Australians develop greater resilience to extreme weather...
08 February 2021
Queensland’s Commissioner for Body Corporate and Community Management has introduced strata insurance regulation changes that will come into effect next month...
08 February 2021
The Tasmanian Association of Tourist Railways is to be supported by the state government via contributions to the cost of insurance...
01 February 2021
Plaintiff law firm Maurice Blackburn has called on the Government not to delay the implementation of a compensation scheme of last resort and other outstanding proposals recommended by the Hayne royal commission report two years ago...
01 February 2021
Australian Securities and Investments Commission Chairman James Shipton has resumed in the role today after he was cleared of misconduct over relocation-related expenses, but he will step down in coming months...
01 February 2021
icare’s new CEO Richard Harding has committed to improving the performance of the NSW state-owned insurer after scrutiny of its operations last year led to the departure of previous head John Nagle...
01 February 2021
Victoria’s ban on the use of high-risk cladding products in new multi-storey buildings takes effect today, with the move expected to produce a net economic benefit of $1 million annually from reduced insurance costs...
01 February 2021
Exemptions to the new deferred sales model for add-on insurance will be considered by a Treasury consultation...
01 February 2021
Rules governing the Australian Financial Complaints Authority’s jurisdiction to deal with disputes about authorised representatives have been amended in the wake of a court case last November that went against it...
01 February 2021
Australia has announced it will be joining the Coalition for Climate Resilient Investment initiative, a United Nations-backed program to foster more accurate pricing of physical climate risks in investment decision-making...
14 December 2020
Passage of the Financial Sector Reform Bill 2020 through Parliament is a “major step forward” in implementing the recommendations of the Hayne royal commission, the Federal Government says...
14 December 2020
The insurance industry has cautioned against making changes to the Privacy Act in a submission to an issues paper seeking feedback on whether the scope of the legislation and its enforcement mechanisms remain fit for purpose in the digital age...
14 December 2020
The Australian Securities and Investments Commission has set out its expectations for determining target markets for retail products and distributing them appropriately in a regulatory guide for new laws that aim to drive a consumer-centric approach...
14 December 2020
The Australian Prudential Regulation Authority will reduce a $250 million additional capital requirement applied to Allianz Australia last year to $150 million, saying the insurer has made progress in “addressing issues”...
14 December 2020
The COVID-19 outbreak has compressed a decades’ change into a few years and will lead to lasting impacts on the ways insurers do business, Australian Prudential Regulation Authority (APRA) Executive Board Member Geoff Summerhayes says in comments made as his term concludes.
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...