insuranceNEWS.com.au - Regulatory & Government

‘Consistency is key’: ICA backs Victoria’s property flood risk reform

Fri, 23 Oct 2026 05:16:48 GMT

The Insurance Council of Australia says Victorian planning reforms will make it less likely that homes are built in places known to flood and can help improve cover affordability...

Regulator urged to consult on code before approval call

Fri, 23 Oct 2026 05:16:16 GMT

The Australian Securities and Investments Commission should seek further feedback on the new insurance code of practice, as the version submitted for approval falls short in key areas, consumer groups say...

Flawed consultations ‘endemic in government’

Fri, 23 Oct 2026 05:11:48 GMT

The Insurance Council of Australia has joined other peak bodies to attack the federal government’s “inadequate” consultations on complex legislative and regulatory reforms...

AFCA warns on AI submissions as complaints surge to new record

Thu, 22 Oct 2026 05:19:31 GMT

The industry ombudsman has warned the use of artificial intelligence to lodge complaints could hinder its resolution processes, after caseloads reached record volumes in 2025-26...

Regulator seeks feedback on RAC deal promises

Mon, 19 Oct 2026 04:10:11 GMT

The competition watchdog has called for feedback by Wednesday on IAG’s public benefit commitments supporting the planned acquisition of RAC Insurance...

MPs’ artificial intelligence inquiry offers early advice

Mon, 19 Oct 2026 04:10:03 GMT

A parliamentary inquiry into AI has written to the Prime Minister ahead of its reporting date with advice on safeguards, data centre standards and action needed to support local capabilities...

Workers’ comp review spotlights insurers

Mon, 19 Oct 2026 04:09:51 GMT

Stronger monitoring and regulation of insurers is central to maintaining a robust Queensland workers’ compensation scheme, according to an independent review...

Bosses ‘need to know AI risk’ as power grows

Mon, 19 Oct 2026 04:09:39 GMT

New Zealand financial services groups have been told they are expected to maintain cybersecurity strategies and frameworks that address threats as AI becomes more prevalent...

State strata review proposes commission disclosure reforms

Fri, 16 Oct 2026 03:56:15 GMT

A WA strata review has proposed reforms requiring clearer disclosure of manager fees, charges and commissions, and improvements around conflicts of interest...

Recycling business charged after worker injured by explosion

Thu, 15 Oct 2026 05:16:22 GMT

Victoria’s WorkSafe is taking a scrap recycling business to court after a worker was seriously injured in an explosion...

Advice group cops $1.3m ‘sting’ over cyber failings

Wed, 14 Oct 2026 04:56:02 GMT

Financial advice group Fortnum Private Wealth has been fined $1.35 million over cybersecurity lapses including a data breach in 2022 that affected more than 9000 clients...

Cyclone pool claims top $1.6b

Mon, 12 Oct 2026 03:07:08 GMT

The cyclone pool has received 133,078 claims to date with a total net incurred value of about $1.65 billion, the latest statistics report says...

Hazards Commission backs uni research into quake fires, landslips

Mon, 12 Oct 2026 03:06:59 GMT

New Zealand’s Natural Hazards Commission is investing $NZ3.6 million ($2.89 million) in research examining earthquake fires, flood risk, coastal cliff collapse and other threats...

Call for submissions as state eyes impairment rating reform

Mon, 12 Oct 2026 03:06:48 GMT

The NSW State Insurance Regulatory Authority has called for feedback on whether the workers’ compensation scheme’s psychiatric impairment rating scale is fit for purpose...

Data protection agency probes smart glasses app maker

Mon, 12 Oct 2026 02:57:49 GMT

The Office of the Australian Information Commissioner has launched an inquiry into a Chinese smart glasses app maker after it failed to respond to questions about its safeguarding of personal data...

NZ add-on insurers ‘operate with integrity’

Mon, 12 Oct 2026 02:55:05 GMT

New Zealand Labour’s plans for targeting add-on insurance need evidence and careful consideration, with regulations already covering the sector, the Financial Services Federation says...

Hollard fined $2m after storm claimants ‘left in limbo for years’

Fri, 09 Oct 2026 05:17:01 GMT

The Federal Court has fined Hollard $2 million over failures handling a home and contents claim made by a couple after a storm damaged their roof...

Canberra drops plan to slash disaster recovery funding

Fri, 09 Oct 2026 05:13:59 GMT

The federal government has scrapped proposed changes to the Disaster Recovery Funding Framework after a campaign by Queensland councils and politicians...

Industry questions Treasury calculations on compo scheme levy

Fri, 09 Oct 2026 05:13:44 GMT

Insurers have pressed for a rethink on their share of the $170.3 million special levy to cover a cost blowout in the Compensation Scheme of Last Resort, questioning the metrics used to decide contributions...

Employee safety watchdog launches fresh inspection blitz

Fri, 09 Oct 2026 04:01:18 GMT

SafeWork NSW will make another round of workplace inspections to identify psychosocial hazards...