News & Analysis as of

Australia Insurance Industry

K&L Gates LLP

General Insurance Policies: Tools of Financial Security or Instruments of Coercion and Control?

K&L Gates LLP on

The Centre for Women’s Economic Safety (CWES) has recently published Catherine Fitzpatrick’s second ‘Designed to Disrupt’ discussion paper titled ‘Reimagining general insurance products to improve financial security.’ The...more

K2 Integrity

Implementation of the Russian Oil Price Cap and Key Compliance Considerations

K2 Integrity on

As the Russian invasion of Ukraine continues, so too does Russia’s isolation from the West. Member nations of the Group of Seven (G7)—the United States (U.S.), Canada, France, Germany, Italy, Japan, and the United Kingdom...more

Patterson Belknap Webb & Tyler LLP

Compounding Consequences for Australian Health Insurer Following Breach

Medibank, one of Australia’s largest private health insurers, detected a ransomware attack in October 2022.  The attackers, believed to be part of a criminal organization based in Russia, exfiltrated approximately 9.7 million...more

A&O Shearman

Horizon scanning – regulatory developments in Australia

A&O Shearman on

With the election outcome signalling a ‘climate mandate’ of some description, it’s likely that we will see renewed efforts to introduce enhanced climate disclosure and standardised reporting obligations to bring Australia in...more

BCLP

Is COVID a Catastrophe?

BCLP on

The Federal Court of Australia on 21 February 2022 handed down judgments in the appeals of a number of test cases in which one of the issues in contention was whether the COVID-19 pandemic in Australia was a “catastrophe”...more

K&L Gates LLP

COVID-19: (Australia) COVID-19 Business Interruption Claims May Not be Subject to Pandemic Exclusions

K&L Gates LLP on

SUMMARY - There was bad news for insurers seeking to exclude business interruption claims arising from COVID-19 last week when the NSW Court of Appeal held on 18 November 2020 that certain policies, with outdated exclusion...more

K&L Gates LLP

Royal Commission Report - Life Insurance and General Insurance

K&L Gates LLP on

The Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was released on 4 February 2019. In addressing the findings from hearings into the insurance industry,...more

K&L Gates LLP

Life Insurance – Some Sales Tactics Exposed

K&L Gates LLP on

An Australian Securities & Investments Commission (ASIC) Report, "Sale of Direct Life Insurance" (Report), has exposed systemic issues within the life insurance industry. The findings include a number of dramatic case studies...more

Jones Day

Australian Government Releases Draft of Private Sector Whistleblower Protection Law

Jones Day on

The Situation: Currently, limited protections exist in Australia for private sector whistleblowers against victimization and detrimental treatment. The Development: The Australian government has released draft law that...more

Carlton Fields

FIO Director Testifies On The Impact Of International Regulatory Standards On The Competitiveness Of U.S. Insurers

Carlton Fields on

The Director of the Federal Insurance Office (FIO), Michael McRaith, recently testified before the House Financial Services Subcommittee on Housing and Insurance regarding the impact international regulatory standards have on...more

K&L Gates LLP

New Zealand's Highest Court Makes Life Difficult for D&O Policyholders (and Their Insurers)

K&L Gates LLP on

The Supreme Court of New Zealand (Court) last month handed down the latest in a series of decisions, both in New Zealand and Australia, relating to the enforceability of 'statutory charges' over insurance monies – and it is...more

11 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide