Australia's insurance regulatory environment, instead of seeing abrupt upheaval, is becoming more demanding in a deeper, more structural way.
The interim report of the ongoing review of Australia's Independent Life Code of Practice (Life Code) has been released and it has found favour with the country's life insurers.
The Australian Reinsurance Pool Corporation (ARPC) has recorded a major milestone in its cyclone reinsurance pool operations, with total claim payments surpassing A$1bn ($703.4m) since the initiative was launched.
Markel Insurance, the insurance operations within Markel Group, has opened a new office in Perth and marked the event with the appointments of two Senior Underwriters, Mr Jerome Steyn and Mr Pierre Dagnee.
The Australian Prudential Regulation Authority (APRA) has applied an additional A$2m ($1.4m) capital requirement to Sovereign Insurance Australia (SIA), an MGA.
Blend Insurance Solutions has appointed Ms Melanie Hoffmann as Head of Accident and Health (A&H). Her appointment comes as Blend undergoes a total overhaul of its workflow, moving toward an AI-native ecosystem designed to strip away the operational friction that slows down underwriting.
Australian life insurers have welcomed the passage of a new law that bans genetic discrimination and gives people confidence on genetic testing.
The Australian insurance industry is pulling out all the stops to ensure that the industry is ready to respond swiftly for customers as the impact of Middle East conflict continues to evolve across all lines of insurance business.
Australia's Financial Services Council (FSC) has announced a new Deputy Chair, new Board appointments and acknowledged the significant contributions of its departing Director and outgoing Deputy Chair upon her retirement.
The International Association of Insurance Supervisors (IAIS) has released two publications, marking the completion of its multi-year cycle of assessing implementation of the supervisory material of the Holistic Framework for systemic risk in the insurance sector.