Claims handling exemption talks on hold
08 October 2018
A Treasury consultation on removing a claims handling exclusion from the financial services definition in the Corporations Act has been overtaken by the Hayne royal commission…
Regulatory & Government
‘Forceful’ ASIC starts trust rebuilding mission
08 October 2018
The Australian Securities and Investments Commission has vowed to be a “forceful regulator” as it seeks to restore trust in the scandal-tainted financial services sector…
Government moves to manage automated vehicles
08 October 2018
The Commonwealth Government has spent has spent $9.7 million to establish an Office of Future Transport Technologies to manage the impending influx of automated vehicles…
Greenslip premiums plunge after NSW reforms
08 October 2018
The average premium for compulsory third party greenslip insurance has dropped by more than $130 in NSW, following reforms to the scheme…
WA cracks down on cladding
08 October 2018
Authorities in WA have introduced building regulations restricting the use of combustible material on high-risk property facades…
NSW unveils cyber security plan
08 October 2018
The NSW Government has detailed its plans to counter and respond to cyber attacks…
ASIC signs fintech deals with US, Luxembourg
08 October 2018
The Australian Securities and Investments Commission has added the US and Luxembourg to its growing network of fintech partners…
Automated cars raise data privacy issues
01 October 2018
Government access to personal and sensitive information generated by automated vehicles may create privacy worries that hinder uptake of the new technologies, the National Transport Commission has warned…
Treasury consults on corporate penalties reform bill
01 October 2018
Treasury is seeking feedback on draft legislation to introduce a stiffer penalty regime for corporate and financial sector misconduct…
APRA stability focus won’t offer competition protection
01 October 2018
Australian Prudential Regulation Authority Chairman Wayne Byrnes says competition in the financial services sector will intensify due to new technologies and shifting consumer attitudes, and the regulator will not stand in the way of change…
Insurers make up 20% of product breaches
01 October 2018
General insurance and life insurance caused 20% of financial services product breaches, according to an Australian Securities and Investments Commission report on breach reporting obligations…
WA holds second bushfire mitigation summit
01 October 2018
The WA Government will hold a bushfire mitigation summit this month, and will include input from volunteer firefighting brigades…
ACT moves closer to new CTP scheme
24 September 2018
The ACT Government has released an exposure draft bill for a new no-fault compulsory third party insurance scheme selected by a citizen’s jury earlier in the year…
ASIC Deputy Chairman Peter Kell resigns
24 September 2018
Australian Securities and Investments Commission Deputy Chairman Peter Kell, who has taken a high profile on insurance issues, has resigned after seven years with the regulator…
Wellington finds 112 buildings with flammable cladding
24 September 2018
Wellington City Council has identified 112 buildings featuring flammable cladding similar to the material that contributed to London’s devastating Grenfell Tower blaze…
ASIC urges improved climate risk disclosures
24 September 2018
The Australian Securities and Investments Commission has urged listed companies to lift their game on climate risk disclosures after finding the information provided is often too general to be useful…
APRA gets second deputy chair
24 September 2018
Treasury Deputy Secretary John Lonsdale has been appointed as the second Deputy Chairman of the Australian Prudential Regulation Authority…
ASIC powers boosted
24 September 2018
The Federal Government has passed a parliamentary bill that will beef up the power of the corporate regulator…
icare reaches out to rural employers
24 September 2018
Insurance and Care NSW will hold more tailor-made forums in rural areas as part of a wider effort to step up its engagement with regional employers and service providers…
Comcare selects Allianz and GB for claims services
17 September 2018
Commonwealth workers’ compensation scheme Comcare has selected Allianz and Gallagher Basset as third-party claims services providers for the non-corporate federal agencies covered by the scheme…