ASIC steps up co-operation with jobs department
23 April 2018
The Australian Securities and Investments Commission (ASIC) and Department of Jobs and Small Business have signed a memorandum of understanding to foster closer co-operation…
Regulatory & Government
ARPC streamlines its leadership structure
23 April 2018
The Australian Reinsurance Pool Corporation has made changes that will see two members of its senior executive team leave…
ACCC appoints Deputy Chairman
23 April 2018
The Australian Competition and Consumer Commission has appointed Mick Keogh as Deputy Chairman for a five-year term, starting from the end of next month…
WA seeks feedback on injury scheme
23 April 2018
The Insurance Commission of WA will hold a forum with service providers to discuss ways to improve the Motor Vehicle Catastrophic Injuries Support scheme, which started in 2016…
Allianz floats ‘subsidy arrangement’ for north
16 April 2018
A “subsidy arrangement” to fund a government-backed insurance pool is the long-term solution to addressing the north’s premium woes, Allianz says…
Lack of pricing transparency hurts consumers, ACCC told
16 April 2018
Insurers’ refusal to provide more clarity on how premiums are calculated makes it difficult for consumers to take the right risk decisions, according to the Financial Rights Legal Centre…
Mandatory reporting brings spike in breach notifications
16 April 2018
A wave of companies have reported data breaches since the introduction of mandatory reporting…
NZ fire levy changes put back
16 April 2018
Controversial plans to change the way the New Zealand fire service levy is calculated have been delayed…
ASIC seeks feedback on fees-for-service reform
16 April 2018
The Australian Securities and Investments Commission is calling for comments on revised bills and regulations to introduce its fees-for-service funding model…
Suncorp seeks greater context on renewal price disclosure
09 April 2018
Displaying previous-year premiums on renewal notices without context may encourage customers to make price-based decisions rather than considering if they have the right cover, Suncorp warns…
ASIC backs deferred sales across all add-on cover
09 April 2018
The Australian Securities and Investments Commission has welcomed a Productivity Commission proposal that may extend a deferred sales model to all add-on insurance…
ICA defends lenders’ mortgage cover
09 April 2018
The Insurance Council of Australia has rejected suggestions lenders’ mortgage insurance is unnecessary and could be replaced with increased interest rates on loans that require the cover…
Young NSW drivers to trial telematics
09 April 2018
NSW will trial telematics to improve young drivers’ safety and reduce the state’s compulsory third party insurance costs…
ASIC sets out obligations for cost-recovery regime
09 April 2018
The Australian Securities and Investments Commission says companies must access an online portal between July and September to submit or validate their business activity metrics, as part of its new cost-recovery program…
RAA fined over misleading advert
09 April 2018
RAA Insurance has been fined $43,200 by the Australian Securities and Investments Commission over misleading representations about car insurance in TV advertising…
Royal commission hears scale of CBA credit cover failures
26 March 2018
Commonwealth Bank mis-sold consumer credit insurance to about 64,000 customers who did not meet employment eligibility criteria for claims, the royal commission into financial services misconduct heard last week…
ICNZ calls for further reform after EQC changes
26 March 2018
The Insurance Council of New Zealand will continue to seek improvements to the Earthquake Commission Act after welcoming changes announced by the Government last week…
Choice demands abolition of lenders’ mortgage cover
26 March 2018
Consumer group Choice has called for lenders’ mortgage insurance to be abolished in response to the Productivity Commission’s draft report on competition in the financial system…
ICA backs advice overhaul to assist consumers
26 March 2018
The Insurance Council of Australia has strongly supported “comprehensive reforms” to improve the quality of advice given to retail consumers…
PetSure rejects brand transparency proposal
26 March 2018
Hollard-owned PetSure has defended its underwriting dominance in pet insurance and says Productivity Commission draft recommendations to improve competition could have the opposite effect and disadvantage consumers…