insuranceNEWS.com.au - Regulatory & Government

Treasury consults on PI insurance reforms

Mon, 15 Dec 2025 04:17:37 GMT

Treasury is seeking feedback on ways to “enhance the effectiveness” of professional indemnity insurance under a push to improve the Compensation Scheme of Last Resort...

Industry on hook for compo scheme funding shortfall

Mon, 15 Dec 2025 03:53:34 GMT

Insurers must shoulder a portion of the $47.3 million special levy to shore up the Compensation Scheme of Last Resort, which has suffered a blowout in Australian Financial Complaints Authority unpaid determinations...

ICA hits out at ‘overlapping’ regulations

Mon, 15 Dec 2025 03:43:25 GMT

Complying with “overlapping and expanding” regulations has come at great cost to productivity and consumer outcomes, according to the Insurance Council of Australia...

SIRA lays ground for injury scheme projects

Mon, 15 Dec 2025 03:42:49 GMT

The State Insurance Regulatory Authority says three initiatives focusing on the role of health providers in personal injury schemes will move forward next year...

State to shut cladding agency

Mon, 15 Dec 2025 03:42:41 GMT

Cladding Safety Victoria will stop operations at the end of its mission to rectify extreme- and high-risk buildings...

Victoria’s new firefighting fleet ready for take-off

Mon, 15 Dec 2025 03:42:32 GMT

The Victorian government has unveiled its new firefighting air fleet as the state prepares for this year’s elevated-risk season...

Trans-Tasman leaders collaborate on accessibility

Mon, 08 Dec 2025 03:33:12 GMT

Australia and New Zealand will establish a government and industry working group to share information and collaborate on ways to ensure insurance remains accessible...

ASIC outlines code approval expectations

Mon, 08 Dec 2025 03:33:04 GMT

The Australian Securities and Investments Commission says its code of practice approvals process considers an industry’s response to independent reviews and factors such as enforceability...

Companies falling short on whistleblower systems

Mon, 08 Dec 2025 03:32:24 GMT

Whistleblower policies and practices vary greatly among corporates and there is room for improvement, according to the Australian Securities and Investments Commission...

SIRA shares QBE workers’ comp audit findings

Mon, 08 Dec 2025 03:32:10 GMT

Regulators have completed an audit of QBE’s workers’ compensation claims management across the NSW nominal insurer and Treasury Managed Fund programs...

Watchdog tweaks PDS regulatory guide

Mon, 08 Dec 2025 03:31:53 GMT

Updates to product disclosure statement obligations have been finalised after consultation with financial services industry stakeholders...

State’s workers’ comp underwriting loss deepens

Mon, 01 Dec 2025 04:21:54 GMT

The NSW workers’ compensation scheme has reported a $3.2 billion underwriting loss as the number of psychological injuries rose 20%, state insurer icare’s annual report says...

Psychological injury reform suffers hold-up

Mon, 01 Dec 2025 04:21:43 GMT

A workers’ compensation bill that would change psychological impairment thresholds failed to pass NSW parliament in the final week of sittings for the year...

ICA urges regulators to rethink add-on, advice rules

Mon, 01 Dec 2025 04:05:19 GMT

Reporting requirements should be reviewed to remove duplication and regulations should be proportionate to risk, the Insurance Council of Australia has told the Council of Financial Regulators...

Queensland appoints building regulator board members

Mon, 01 Dec 2025 04:05:01 GMT

The Queensland government has named five new board members for the state building regulator, adding to appointments made earlier this year...

Builder suspended amid insurance fraud probe

Mon, 01 Dec 2025 04:04:43 GMT

A builder has been suspended after being accused of using false or misleading insurance certificates for renovations in Victoria...

NSW names new reconstruction chief

Mon, 01 Dec 2025 04:04:32 GMT

The NSW Reconstruction Authority has appointed experienced emergency management executive Kate Fitzgerald as CEO...

Workers’ comp shake-up ‘heightens scrutiny’ on mental injury claims

Mon, 24 Nov 2025 04:12:35 GMT

Workers’ compensation reforms passed by the NSW parliament last week include updated definitions for psychological injuries and streamlined impairment assessments...

Industry hails state’s CTP claims farming ban

Mon, 24 Nov 2025 04:12:29 GMT

The Insurance Council of Australia has welcomed legislation introduced to the NSW parliament last week outlawing the farming of compulsory third party claims...

Broker directors fined after failing to lodge reports

Mon, 24 Nov 2025 04:12:12 GMT

Two directors of Sheffield Insurance have been fined $15,000 over their roles in the WA brokerage failing to lodge financial statements and auditors’ reports with the corporate regulator for five years...