NSW draft building bill may keep out insurers: ICA
21 October 2019
The Insurance Council of Australia says the NSW Government’s draft Design and Building Practitioners bill may not ease the insurance problem facing the construction industry...
Regulatory & Government
Victoria promises to pursue dodgy builders
21 October 2019
The Victorian Government has pledged to chase “dodgy building practitioners” through the courts on behalf of owners of apartments covered in combustible cladding...
icare aims to improve return to work rates
21 October 2019
NSW state insurer icare has pledged to work closely with partners to improve return to work under its workers’ compensation scheme...
ASIC enforcement action jumps
21 October 2019
Enforcement action by the Australian Securities and Investments Commission was “significantly increased and accelerated” in the 2019 fiscal year, the regulator reveals in its latest annual report...
Insurance not ‘quasi-regulator’ of building standards: NIBA
14 October 2019
Sub-par building quality is the culprit behind the construction industry’s professional indemnity crisis, and governments must focus on the issue...
icare pledges to listen after appointing customer advocate
14 October 2019
NSW state insurer icare has appointed an independent customer advocate to engage with customers and stakeholders to understand workers’ compensation scheme concerns...
Senator pushes for action on premium woes
14 October 2019
Queensland Senator Nita Green has called on the Federal Government to act on the long-running insurance problem besetting northern Australia by adopting controversial measures proposed by the Australian Competition and Consumer Commission...
Insurers welcome quad bike safety move
14 October 2019
QBE and IAG have welcomed moves by the Federal Government to require quad bikes to meet minimum safety standards...
ICA urges rethink of add-on sales deferment model
14 October 2019
The Insurance Council of Australia has voiced concerns “beneficial insurance products” could be forced to observe the four-day pause period Treasury intends to apply to all add-ons available to consumers...
SA orders cladding repairs for risky buildings
14 October 2019
A SA Government cladding audit of buildings has identified 28 private residential blocks in urgent need of remediation works...
Christchurch service resolves 608 claims in first year
14 October 2019
The Greater Christchurch Claims Resolution Service has resolved 608 claims in its first year of operation...
Boards failing to rein in compliance risks: ASIC review
07 October 2019
Financial company managers are operating outside board compliance risk appetites for months and years at a time without serious attempts made to rein them in, an Australian Securities and Investments Commission report has found...
ASIC seeks feedback on add-on reforms
07 October 2019
The Australian Securities and Investments Commission has opened a consultation over a proposal to apply its product intervention power to add-on products sold through car yards...
NSW building reform bill flags insurance requirement for designers
07 October 2019
A registration scheme would be set up for NSW-based design practitioners, who must also be “adequately insured” as part of the state government’s efforts to reform the troubled building industry...
NSW sets PI deadline
07 October 2019
The NSW Government intends to lift the interim measure that allows registered certifiers to hold professional indemnity insurance with conditions...
Council backs AASB submission over new accounting rule
07 October 2019
The Insurance Council of Australia has expressed support for the Australian Accounting Standards Board’s submission over draft changes to a new accounting rule...
icare names excellence award finalists
07 October 2019
Insurance & Care NSW has announced the contenders for its Care and Service Excellence Awards...
APRA creates insurance division in shake-up
07 October 2019
The Australian Prudential Regulation Authority has created a separate insurance division to be led by Brandon Khoo as part of a shake-up of the regulator’s structure following the Hayne royal commission...
FMA appoints ex-UK Treasury official as insurance director
07 October 2019
Former UK Treasury deputy director Clare Bolingford will start in January as the Financial Markets Authority Director of Banking and Insurance...
QBE, Genworth warn home-buyer scheme must not crowd out LMI
30 September 2019
QBE and Genworth say the Federal Government must ensure its first home buyers assistance scheme doesn’t crowd out private providers of lenders mortgage insurance...