Another industry body has questioned Federal Government calls for an insurance comparison website for strata-title and home and contents insurance.
The insurance broking industry is already expressing concern over a number of Budget measures, which may undermine the services of brokers while taking money away from important industry bodies.
The Federal Government last night attempted to show its commitment to tackling Queensland’s insurance issues by pledging millions of dollars to tackle insurance costs.
Acting assistant treasurer Mathias Cormann has launched a public consultation into premiums in Queensland, saying the Government will only increase regulation to 'fill gaps' in private sector efficiency.
An inquiry into disaster funding and mitigation has revealed the full scope of the investigation, and the industry is getting ready to participate.
An insurer has followed through on promises to provide new broker business development tools focused on SMEs, while defending its previous commission reductions on home cover.
Constraints on its prudential, operational and financial flexibility are chipping away at APRA's autonomy, according to the regulator, with admissions it has fallen short of global standards
ASIC has made a series of recommendations in its submission to the Financial System inquiry including making the user pay for the services the regulator provides them.
Brokers have sided with insurers over warnings against the government introducing a risk sharing model for natural disasters, and instead have put forward their own ideas for a solution.
An insurer is undertaking a strata building resilience project which will see it revisit pricing, and could possibly lead to premium reductions of 25%.