icare data shows ‘deteriorating performance’
11 June 2019
Performance data shows a major deterioration in the NSW workers’ compensation scheme, a former principal actuarial adviser to the State Insurance Regulatory Authority says…
Regulatory & Government
NSW election holds up ESL Monitor findings
11 June 2019
Quarterly reports from NSW Emergency Services Levy Monitor Allan Fels have not been published since late last year, with delays blamed on the state election in March…
APRA wants $30 million levy on insurers
11 June 2019
The Australian Prudential Regulation Authority is seeking $30 million from general insurers via the annual supervisory funding levy, and invites industry to respond by Friday…
Greens use FOI to reveal Sydney cladding risk
11 June 2019
Hundreds of buildings in the City of Sydney area are at risk due to flammable cladding, the NSW Greens say…
QBE, Allianz drop CTP prices as SA opens competition
11 June 2019
A typical Adelaide household will save about $200 a year after QBE and Allianz cut their compulsory third party premiums, according to SA Treasurer Rob Lucas…
APRA urges actuaries to blow whistle
03 June 2019
Actuaries must “have the courage” to speak up when they see signs of non-financial risk, an area where the Australian Prudential Regulation Authority has increased its focus…
Albanese changes financial services leader
03 June 2019
NSW MP Stephen Jones has been named Shadow Assistant Treasurer and Shadow Minister for Financial Services in the federal ALP’s shadow cabinet under new Opposition Leader Anthony Albanese…
Anger as Victoria cladding fix excludes private owners
03 June 2019
The Victorian Government has provided no funding in its budget for owners to remove flammable cladding from private residential buildings…
Victoria pays more to fight fires, cuts mitigation
03 June 2019
The Victorian Government will cut funding on bushfire mitigation by $30 million and instead fund a greater emergency firefighting response, budget papers reveal…
RBNZ consults industry on high-risk pricing changes
03 June 2019
The Reserve Bank of New Zealand is engaging with insurers and reinsurers to better understand premium changes in high-risk areas such as Wellington…
NZ reveals carbon-busting budget
03 June 2019
New Zealand’s budget introduces new funding to tackle climate change, as the Government targets zero non-agricultural carbon emissions by 2050…
NZ quake tribunal wins green light
03 June 2019
The Canterbury Earthquake Insurance Tribunal is expected to be up and running this month after the enacting egislation passed a final vote in New Zealand’s Parliament last week…
Jane Hume appointed Financial Services Minister
27 May 2019
Victorian Senator Jane Hume has been named as the new Assistant Minister for Financial Services, Superannuation and Financial Technology, with oversight of the general insurance industry…
No comment, but ASIC is aware of bogus London lineslip
27 May 2019
The Australian Securities and Investments Commission has been informed of a flawed lineslip facility that left Australian policyholders potentially exposed…
icare seeks new claims management provider
27 May 2019
State insurer icare has opened a tender for claims management services for its NSW Treasury Managed Fund workers’ compensation portfolio…
APRA highlights governance ‘weaknesses’
27 May 2019
The Australian Prudential Regulation Authority says it has uncovered “material weaknesses” in governance and management of non-financial risks such as culture and accountability…
Shipton calls for ‘discipline’ on fair practice
27 May 2019
Australian Securities and Investments Commission Chairman James Shipton says the financial services industry must do more to put people first and ensure practices are fair…
EQC urged to address claims handling, transparency
27 May 2019
Submissions to the Earthquake Commission’s public inquiry have called for the state-owned insurer to better manage claims and quality assurance around assessments and repairs…
Bushfires drive up Tasmanian disaster relief budget
27 May 2019
Tasmania’s new state budget more than doubles its estimate of Commonwealth grant funding required for natural disasters to $40.3 million from $19 million previously…
Brokers urged to speak out for NSW review
20 May 2019
The National Insurance Brokers Association has called for members to detail their experiences with the NSW workers’ compensation scheme, as a regulatory review examines problems highlighted by businesses…