insuranceNEWS.com.au - Regulatory & Government

Scouts ACT calls for public insurance option

Mon, 28 Apr 2025 03:28:15 GMT

A government-backed insurance scheme should be established in the Australian Capital Territory to provide affordable cover to community organisations, says Scouts ACT, as insurance costs reach a quarter of its operational budget...

Director fined over invalid home indemnity insurance

Mon, 28 Apr 2025 03:09:52 GMT

A WA director who misused his father’s building contractor credentials has been fined $20,000 after pleading guilty to several offences, including invalid home indemnity insurance...

UK regulator to open Australia office in July

Mon, 28 Apr 2025 03:03:27 GMT

Britain’s Financial Conduct Authority is setting up an office in Australia in July to oversee its activities in the Asia Pacific region as part of a new strategy to support UK financial services firms...

Queensland names building regulator chair, CEO

Mon, 28 Apr 2025 02:59:37 GMT

The Queensland government has appointed a new leadership team to overhaul the state building regulator...

NSW festivals offered grants ‘lifeline’

Mon, 28 Apr 2025 02:35:30 GMT

The NSW Government will provide more than $2.25 million in emergency funding to help support five music festivals held across the state under the first round of payments from the Contemporary Music Festival Viability Fund...

Disaster risk taskforce’s advice awaits next government

Mon, 14 Apr 2025 05:00:27 GMT

Advice from the Insurance Affordability and Natural Hazards Risk Reduction Taskforce will be a matter for the winner of next month’s federal election...

Court raises fine for ‘completely preventable’ workplace death

Mon, 14 Apr 2025 04:58:26 GMT

A fine imposed under workplace manslaughter laws after a 25-year-old subcontractor died in a forklift accident has been more than doubled on appeal...

Breach reporting overhaul to make companies ‘lift their game’

Mon, 14 Apr 2025 04:43:17 GMT

The corporate regulator says its company-level breach and complaints “dashboards” will increase transparency, drive improved performance and help deliver better outcomes...

IAG, Allianz motor club deals face decision delay

Mon, 14 Apr 2025 04:43:05 GMT

A decision on the proposed acquisitions of RACQ and RAA’s insurance underwriting operations will come later than expected...

IAG NZ ‘acknowledges wrongdoing’ as FMA acts on pricing breaches

Mon, 07 Apr 2025 05:04:26 GMT

IAG New Zealand will not challenge court action brought by the Financial Markets Authority over failures to correctly price premiums and properly advertise and apply discounts...

Unqualified, uninsured roofer fined

Mon, 07 Apr 2025 05:01:08 GMT

A roofer who carried out work without the required insurance and despite not being licensed or qualified to do so has been fined $60,000...

Queensland holds WorkCover rates

Mon, 07 Apr 2025 04:36:46 GMT

The Queensland government says it will freeze WorkCover premiums for the next financial year...

NZ cracks down on cowboy tradies amid red tape cuts

Mon, 07 Apr 2025 04:36:36 GMT

New Zealand has changed its licensing rules for electrical workers, plumbers, gas fitters and drain layers, and says more reforms will follow to “crack down on cowboy builders”...

icare invites funding bids for dust disease research

Mon, 07 Apr 2025 03:37:52 GMT

NSW state insurer icare says applications are open for its dust disease research grant scheme...

Industry appreciates depth of cyclone pool inquiry report

Mon, 31 Mar 2025 03:48:52 GMT

The Insurance Council of Australia has welcomed the final report from a parliamentary inquiry into the cyclone reinsurance pool, highlighting its focus on broader affordability measures...

MPs flag insurance vigilance after reviewing ASIC, ACCC reports

Mon, 31 Mar 2025 03:23:28 GMT

Federal MPs have called for a focus on insurance issues such as affordability and pricing practices after reviewing the corporate and competition watchdogs’ annual reports for 2021, 2022 and 2023...

Commission seeks feedback on merger reform guidance

Mon, 31 Mar 2025 03:09:26 GMT

The Australian Competition and Consumer Commission has released draft merger process guidelines for consultation ahead of laws that will begin next year...

NZ ACC begins probe after reports of exec conduct ‘issues’

Mon, 31 Mar 2025 03:08:33 GMT

New Zealand’s Accident Compensation Corporation has ordered an independent review of its workplace culture following allegations about some senior executives’ behaviour...

Industry’s APRA levy to ease

Mon, 31 Mar 2025 02:43:03 GMT

The general insurance industry will pay about $28.6 million to fund Australian Prudential Regulation Authority operational costs next financial year, down from $32.7 million in 2024–25, Treasury calculates...

Regulator outlines expectations for new NZ conduct regime

Mon, 31 Mar 2025 01:59:18 GMT

New Zealand’s Financial Markets Authority says it expects businesses to put consumers at the forefront of decision-making as the Conduct of Financial Institutions regime takes effect...