APRA completes leadership overhaul
03 July 2017
The Australian Prudential Regulation Authority has appointed Sean Carmody to the new role of Risk and Data Analytics Division EGM, as the regulator completes a reorganisation…
Regulatory & Government
ASIC gets cosy with Malaysian regulator
03 July 2017
Australian fintech businesses wishing to operate in Malaysia have an easier path to tread after the Australian Securities and Investment Commission signed a co-operation agreement with the Malaysian Securities Commission…
NSW self-insurers move to new licensing framework
03 July 2017
Self-insurers in NSW have until mid-December to transition to a new licensing framework as part of the workers’ compensation system, the State Insurance Regulatory Authority says…
NZ insurers ‘falling short’ on financial disclosure
03 July 2017
The Reserve Bank of New Zealand says insurers are falling “well short” of minimum requirements for financial strength rating and solvency disclosures…
NSW passes bill to reinstate insurance-based ESL
26 June 2017
The NSW Parliament has passed legislation to reinstate the insurance-linked emergency services levy, after the Government backed away from a move to a property-based charge…
NSW reopens builders’ warranty to private insurers
26 June 2017
The NSW Parliament has passed legislation to overhaul the state’s home building compensation scheme, allowing private insurers to enter the market next year for the first time since 2010…
EQC reforms to raise cap, change claims process
26 June 2017
The Earthquake Commission’s cap for building cover will be raised to $NZ150,000 and residents will have to lodge claims via their private insurers under reforms announced by the New Zealand Government today…
NSW cuts insurance duties for small business
26 June 2017
NSW has abolished a range of insurance duties for small businesses from next January, in changes announced in last week’s state budget…
ASIC orders refund to car-yard policyholders
26 June 2017
A general insurer must refund more than $330,000 in premiums to more than 500 customers after mis-selling add-on insurance at car yards…
Climate change inquiry seeks feedback
26 June 2017
The Senate has opened an inquiry into climate change’s implications for national security, with the role of mitigation policies in reducing risk among the topics to be addressed…
Senate delays general insurance inquiry report
26 June 2017
The Senate Economics References Committee has delayed reporting on its inquiry into the general insurance industry…
NSW motor premiums fall as greenslip reform looms
26 June 2017
Average motor premiums in NSW have fallen below $600 ahead of the switch to a new compulsory third party scheme in December, according to the State Insurance Regulatory Authority…
FMA consults on personalised robo-advice
26 June 2017
New Zealand’s Financial Markets Authority wants submissions on its proposals to allow personalised financial advice generated by computer program or algorithm…
ASIC steps up fintech drive with Japan deal
26 June 2017
The Australian Securities and Investments Commission and Japan’s Financial Services Agency will jointly promote fintech businesses under an agreement signed on Friday, as the local regulator seeks to build the fast-growing industry…
WA to increase worker death compensation
26 June 2017
The WA Government is to increase compensation to families after workplace fatalities…
ACCC to begin its new northern Australia pricing probe
19 June 2017
The Australian Competition and Consumer Commission will monitor the home insurance market in northern Australia for three years under an inquiry requested by Treasurer Scott Morrison…
ASIC funding bill passes as industry works on regulations
19 June 2017
Legislation making the insurance sector contribute to Australian Securities and Investments Commission funding passed the Senate last week, but related regulations are still being fine-tuned…
Debbie to cost Queensland more than $1 billion
19 June 2017
Cyclone Debbie is expected to cost the Queensland Government about $1.1 billion in recovery work, according to the state’s budget papers…
Surveyor fined over faulty townhouses
19 June 2017
A building surveyor faces disciplinary action and must pay a $25,500 fine over the construction of 69 substandard townhouses in Diamond Creek, Victoria…
APRA crunches numbers on reinsurance exposure
19 June 2017
Reinsurance recoverables made up 12%, or $14.3 billion, of general insurers’ total assets at June 30 last year, according to the Australian Prudential Regulation Authority…