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Australia tag returned 689 results

  • Australia: Insurance professionals invited to enter inaugural AILA award

    The Australian Insurance Law Association (AILA) is currently inviting entries for its inaugural 'Gill Award' which honours AILA co-founder Michael Gill. It is open to financial members of AILA who are Australian-based residents and applications will close on 15 September 2019.

    Asia | 23 Jul 2019
  • Australia: Critical review spurs regulator to form new insurance division

    Following an unfavourable review, the Australian Prudential Regulation Authority (APRA) has decided to form a new insurance supervision division. The regulator will also be restructuring its banking and superannuation supervision divisions along industry lines after accepting a recommendation made in the capability review report.

    Asia | 23 Jul 2019
  • Australia: Cyber insurance specialist expands with new hire and office

    Emergence Insurance has expanded to Western Australia by opening a new office in Perth which will be headed by new business development underwriter James Lee. The insurer is said to be a pioneer of cyber cover in Australia and provides protection for SMEs through to ASX-listed entities.

    Asia | 22 Jul 2019
  • Australia: Insurers list actions needed to reduce risk in building sector

    The Insurance Council of Australia (ICA) says that an agreement between the states and territories on implementing nationally consistent building standards is a step in the right direction, but action is now urgently required to restore confidence in the building and construction sector.

    Asia | 22 Jul 2019
  • Australia: Regulator plans to ban unsolicited insurance telemarketing

    The Australian Securities & Investments Commission (ASIC) proposes to ban unsolicited telephone sales of direct life insurance and consumer credit insurance (CCI).

    Asia | 19 Jul 2019
  • Australia: Loyalty tax rises for existing policyholders

    On average, customers renewing their insurance policy with the same insurer paid 27% more than new customers, according to research carried out last year by the New South Wales's Insurance Monitor. More recent data indicates the gap has risen to 34%. This translates to hundreds of dollars for the average home and contents insurance policy.

    Asia | 18 Jul 2019
  • Australia: Private health insurance sector fears death spiral

    The government could eventually be faced with the question of whether pumping in more subsidies is the answer to sustaining private health insurance (PHI), with the sector fearing a death spiral, a think tank has highlighted.

    Asia | 17 Jul 2019
  • New Zealand: RBNZ's ringfencing requirement sinks planned sale of AMP Life

    Wealth management company AMP yesterday advised that the proposed sale of AMP Life (the Australian and New Zealand wealth protection and mature businesses) to UK-based Resolution Life is highly unlikely to proceed on the current terms due to the challenges in meeting a condition laid down by the Reserve Bank of New Zealand (RBNZ).

    Asia | 16 Jul 2019
  • Australia: Increasing socially-engineered cyber attacks demands greater protection

    The first quarter of 2019 saw a 17% increase in cyber criminals using impersonation in phishing attacks primarily by imitating well-known brands, revealed new research from cyber security company FireEye which analysed 1.3bn phishing emails. This has stressed the need for organisations to engage in better training and education as well as insurance as a last line of defence.

    Asia | 15 Jul 2019
  • Australia: Disclosure of genetic test results waived for life cover of up to US$350K

    A moratorium allowing Australians to get up to A$500,000 ($351,000) of life cover without disclosing an adverse genetic test result has come into effect since 1 July.

    Asia | 15 Jul 2019

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