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Regulatory & Government

ASIC vetoes review of class action funders

17 September 2018

The corporate regulator has dismissed “anonymous and anecdotal” stories of companies considering moving offshore because of the rising cost of directors’ and officers’ insurance, saying class action lawsuits blamed for the situation are “critical to protecting shareholders and promoting market integrity”…

AFCA complaints process rules clears ASIC hurdle

17 September 2018

The Australian Securities and Investments Commission has approved the Australian Financial Complaints Authority (AFCA) complaint resolution scheme rules and independent assessor terms of reference…

Help restore trust, ASIC tells brokers

10 September 2018

Insurance brokers caught up in the wider fallout of the Hayne royal commission should stop feeling sorry for themselves and help fix the problem, the Australian Securities and Investments Commission says…

Act on exec pay to rebuild trust: APRA

10 September 2018

Australian Prudential Regulation Authority Chairman Wayne Byres has urged chief risk officers to play a greater role driving executive pay reform…

ARPC outlines payment plan to Canberra

10 September 2018

The Australian Reinsurance Pool Corporation will compensate the Federal Government $55 million a year over the next four financial years for provision of the Commonwealth guarantee…

ARPC hires insurance audit head

10 September 2018

The Australian Reinsurance Pool Corporation has appointed Paulo Zazzara as Senior Manager Insurance Audit…

Queensland tests WorkCover claims scheme

03 September 2018

WorkCover Queensland is piloting a new approach to managing workplace injury claims, under a drive to achieve better return-to-work outcomes…

ICNZ welcomes regulator’s pragmatism

03 September 2018

The Insurance Council of New Zealand has welcomed the central bank’s accommodating approach to industry concerns over insurance solvency standards and lease requirements…

APRA to widen risk supervision

03 September 2018

The Australian Prudential Regulation Authority will broaden its risk-based supervision to cover threats that could affect financial system stability…

WA motor injury scheme records profit

03 September 2018

The WA Insurance Commission’s Motor Vehicle Fund, which backs the state’s catastrophic injuries support program, recovered from a large loss to hit the black last financial year…