WA commission funds recovery research program
06 May 2019
The Insurance Commission of WA has contributed $200,000 to a program of research into recovery from serious vehicle or workplace injuries…
Regulatory & Government
ICA paves way for rethink on ‘actions of the sea’
29 April 2019
The Insurance Council of Australia is willing to work on a definition for “actions of the sea” that could be legislated, but says differences in other home cover terms are likely less significant…
Call to raise AFCA payout cap to $2 million
29 April 2019
Compensation caps for insurance, credit and advice disputes heard through the Australian Financial Complaints Authority should be increased to $2 million, a Senate committee has recommended…
NZ reviews unfair contract terms
29 April 2019
New Zealand is considering ending insurance exemptions from unfair contract terms laws and encouraging comparison websites as part of legal framework changes…
EML grows workers’ comp team
29 April 2019
EML has opened an office in the thriving North Sydney business precinct of Chatswood as it grows its NSW workers’ compensation team…
Businesses pay high price as scammers set record
29 April 2019
Australian businesses lost $60 million through scams last year, according to the Australian Competition and Consumer Commission…
NZ consults on builders’ warranty cover
29 April 2019
Major changes to New Zealand’s building laws are being considered, including requiring builders to offer insurance to homeowners…
‘Less patient’ APRA adopts tougher stance
29 April 2019
The Australian Prudential Regulation Authority will be “less patient” with financial services groups – including insurers – that refuse to co-operate with it…
Property group joins call for cladding register
29 April 2019
The Australian Property Institute has backed calls for a public register to improve transparency around buildings affected by the flammable cladding crisis…
Broker jailed for taking customers’ cash
15 April 2019
Former Phoenix Insurance broker Sergio Amaranti has been jailed for two years and nine months after diverting client refunds totalling about $200,000 to his own accounts…
ICA warns of repairer exodus under claims reform
15 April 2019
Builders, smash repairers and other suppliers may withdraw their services if claims handling regulatory reforms are applied too broadly, the Insurance Council of Australia warns…
Fels maintains push for premium details disclosure
15 April 2019
Providing details of the components that determine premiums will improve transparency and enable consumers to understand what policies cover, NSW Emergency Services Levy Insurance Monitor Allan Fels says…
AFCA consults on naming and shaming
15 April 2019
The Australian Financial Complaints Authority will “run a limited consultation” with stakeholders on its plan to reveal the names of businesses involved in consumer disputes…
Queensland unveils floodplain management plan
15 April 2019
Queensland has introduced a long-term flood resilience plan, building on work undertaken since the 2011 Brisbane floods…
EQC inquiry calls for submissions
15 April 2019
Earthquake Commission public inquiry chairman Silvia Cartwright has called for submissions on ways to improve the state-owned insurer’s response to natural disasters…
APRA calls for industry leadership on compliance
15 April 2019
The Australian Prudential Regulation Authority has called on the general insurance industry to show “greater leadership” in responding to consumer concerns…
ASIC lays fewer charges
15 April 2019
The number of charges laid in criminal cases brought by the Australian Securities and Investments Commissions plunged in the second half of last year…
Comcare names new CEO
15 April 2019
The Federal Government has appointed Sue Weston as Comcare CEO for a five-year term…
WA workers’ comp rates increase 3.7%
15 April 2019
WA workers’ compensation premiums are set to increase 3.7% on average next financial year…
ICA to meet ASIC over product law fears
08 April 2019
The Insurance Council of Australia will voice its concerns over new product design and distribution laws to the Australian Securities and Investments Commission…