insuranceNEWS.com.au - Regulatory & Government

icare structural changes start next week

Mon, 30 Sep 2024 04:59:08 GMT

Proposed structural changes at icare are expected to get underway on October 8, a spokesperson for the NSW insurer tells insuranceNEWS.com.au...

Opposition criticises pace of advice reforms

Mon, 30 Sep 2024 04:58:59 GMT

Shadow Minister for Financial Services Luke Howarth has hit out at the Albanese government over its advice reform agenda...

NSW prepares ahead of potentially active bushfire season

Mon, 30 Sep 2024 04:58:46 GMT

NSW residents have been urged to reduce their property’s fire risk as the state prepares for its bushfire season...

WA delivers revised bushfire policy

Mon, 30 Sep 2024 04:58:35 GMT

The WA government has released a revised bushfire policy that will remove more than 4500 urban properties from a list of bushfire-prone areas...

NSW flags further strata crackdown

Mon, 23 Sep 2024 03:52:48 GMT

The NSW government says there is “more to come” on strata reforms after last week passing legislation to improve disclosure and toughen penalties...

Minister limits NZ fire levy rise

Mon, 23 Sep 2024 03:52:34 GMT

Fire and Emergency New Zealand will raise its insurance levy rate by 2.2% from July 2026, instead of 5.2% as proposed in a public consultation...

Hollard, reinsurers join hazards partnership

Mon, 23 Sep 2024 03:52:14 GMT

Hollard and reinsurers Swiss Re and Munich Re have joined the Hazards Insurance Partnership of government and industry organisations...

Import ban steps up engineered stone crackdown

Mon, 23 Sep 2024 03:51:51 GMT

The federal government will ban the importation of engineered stone products from next year...

Watchdog examines ‘human impact’ in building cover probe

Mon, 16 Sep 2024 04:52:07 GMT

The Victorian Ombudsman says it will examine systemic issues as part of an investigation into the state insurer’s handling of domestic building insurance claims...

ASIC warns industry on distribution failings

Mon, 16 Sep 2024 04:31:58 GMT

The Australian Securities and Investments Commission says insurance and other financial product issuers need to improve their distribution practices or risk breaching compliance duties...

Privacy reforms introduced in parliament

Mon, 16 Sep 2024 04:31:40 GMT

Draft privacy laws were tabled in federal parliament last week to implement the first tranche of reforms recommended by the Attorney-General’s Department...

More funding for Queensland flood program

Mon, 16 Sep 2024 04:31:22 GMT

The Queensland and federal governments have announced an $18 million increase to the state’s Flood Risk Management Program via the Disaster Recovery Funding Arrangements...

Cyclone pool extension could add $35 million to losses

Mon, 09 Sep 2024 04:38:22 GMT

Cyclone reinsurance pool average annual losses would increase by $20-$35 million if the cover period was extended to seven days after an event, research requested by the Assistant Treasurer shows...

Fine for car cleaner who defrauded workers’ comp scheme

Mon, 09 Sep 2024 04:38:06 GMT

A Victorian man who ran a car detailing business while receiving injury support payments has been fined for defrauding the state workers’ compensation scheme...

WA to begin strata law review consultation

Mon, 09 Sep 2024 04:37:49 GMT

WA will next month begin public consultations on a review of state strata legislation after major reforms were introduced four years ago...

ICNZ joins call for faster climate adaptation

Mon, 09 Sep 2024 04:00:52 GMT

The Insurance Council of New Zealand has backed calls to speed up adaptation to climate change, after a report found action so far lacks the scale or pace required...

'On the front foot': mitigation efforts ramp up with latest DRF round

Mon, 02 Sep 2024 04:39:35 GMT

The second round of Disaster Ready Fund allocations will back 164 projects aimed at improving resilience and preparedness for natural catastrophes...

Tasmania seeks home building warranty providers

Mon, 02 Sep 2024 04:39:20 GMT

The Tasmanian government has opened a tender for insurers to provide home warranty cover under a new scheme that it expects will take effect next year...

APRA restructures for ‘swift’ reaction to evolving threats

Mon, 02 Sep 2024 04:39:07 GMT

The Australian Prudential Regulation Authority has made structural changes in a bid to ensure it can handle emerging and future challenges...

WA builder fined over uninsured work

Mon, 02 Sep 2024 04:38:33 GMT

A WA builder has admitted breaching home building contract laws after he started three jobs without mandatory insurance, leaving a property owner with more than $132,000 in costs...