WA picks site for bushfire training facility
11 March 2019
An $18 million bushfire training and research facility serving WA will be built about 72km south of Perth…
Regulatory & Government
Treasury starts claims handling consultation
04 March 2019
A Treasury consultation paper proposes a two-pronged approach to making claims handling subject to Corporations Act requirements for financial services to be delivered efficiently, honestly and fairly…
Actuaries, local government renew mitigation calls
04 March 2019
The Actuaries Institute and Australian Local Government Association have pressed the case for increased mitigation spending in their pre-federal budget submissions, while insurance groups have this year opted out of the process…
ASIC slaps life ban on Sydney broker
04 March 2019
Former Sydney insurance broker James Sheehan has been permanently banned from the financial services industry for cheating clients out of more than $300,000…
Lacrosse payout ‘a game-changer’
04 March 2019
A ruling awarding more than $5.7 million to apartment owners hit by a flammable cladding-fuelled fire has been praised for “holding the [building] industry to account”…
Get tougher on dangerous cladding, UK expert warns
04 March 2019
A leading building engineer says replacing non-compliant cladding on residential properties in Victoria should be a priority…
ASIC to report on fraud investigations
04 March 2019
The Australian Securities and Investments Commission will publish a research report on the way insurers handle suspected fraud, after finding many cases of legitimate claims being investigated…
Disclosure rules require script changes: Clyde & Co
25 February 2019
Personal lines insurers should start looking at changes needed to meet disclosure obligation reforms recommended by the Hayne royal commission, law firm Clyde & Co says…
Frydenberg tells ICA to act on code changes
25 February 2019
Treasurer Josh Frydenberg has called on the Insurance Council of Australia to prioritise code of practice changes recommended by the Hayne royal commission…
Canberra to consult on claims exemption
25 February 2019
A consultation paper on removing the insurance claims handling exemption from the financial service definition is to be released this week as part of the Government’s response to the Hayne royal commission’s recommendations…
ASIC probes royal commission referrals
25 February 2019
The Australian Securities and Investments Commission says it is prioritising 13 referrals made by the Hayne royal commission…
AFCA given more power on legacy complaints
25 February 2019
The Australian Financial Complaints Authority will start reviewing legacy financial complaints dating back to 2008, after the Government extended its remit by 12 months…
APRA to maintain core focus: Byres
25 February 2019
The Australian Prudential Regulation Authority’s primary focus will remain the overall safety and stability of the financial system, despite the extra responsibilities the Hayne royal commission has recommended, Chairman Wayne Byres says…
ASIC applauds whistleblower laws
25 February 2019
The Australian Securities and Investments Commission has welcomed stronger whistleblower laws allowing it to better investigate and prosecute misconduct…
IMF hails APRA industry oversight
25 February 2019
The prudential regulator has welcomed a report by the International Monetary Fund backing its handling of the financial system…
Facebook probe threatens insurance data: ICA
18 February 2019
The Australian Competition and Consumer Commission has been warned its inquiry into the market power of Facebook and Google could harm the insurance industry…
Tougher misconduct penalties move a step nearer
18 February 2019
New legislation will significantly increase criminal and civil penalties for corporate and financial sector misconduct…
EQC building cap raised
18 February 2019
The New Zealand Earthquake Commission’s cap for residential building cover will increase from $NZ100,000 to $NZ150,000 later this year…
Australia gains top score on driverless car regulations
18 February 2019
Australia has gained the top score for regulations supportive of autonomous vehicles, but ranks 15th overall on a global KPMG readiness index…
ICNZ renews push for action on climate crisis
18 February 2019
The Insurance Council of New Zealand has again called for more funding of mitigation measures as climate change increasingly produces erratic and extreme weather events…