A federal regulatory road map update shows seven initiatives related specifically to insurance and reinsurance, while the sector will be affected by 24 activities overall.

The Regulatory Initiatives Grid (RIG) contains 89 initiatives from government and regulators, with many affecting multiple sectors across insurance, banking, financial advice, markets, payment services, superannuation and investment management.

The update provides details about initiatives and milestones since last September and outlines reform priorities and activity likely to affect the financial sector over the next two years.

Assistant Treasurer Daniel Mulino says the RIG, updated twice a year, provides a clear view of what is coming next, helps businesses plan with confidence and reduces unnecessary duplication across the system.

“Clear and accessible regulation is critical to a strong financial system, and the RIG plays a central role by improving transparency and making it easier to track progress and understand future priorities,” he said.

Initiatives encompass policy development, legislation, regulations and instruments, ongoing program implementation, and reviews and evaluations.

The regulatory road map was first released in 2024. The latest update is here.