Proposed NSW home building insurance scheme reforms released – Daily – Insurance News

NSW has opened consultation on a list of 15 proposals to improve the state’s home building compensation (HBC) insurance scheme, which is compulsory for principal contractors in the residential construction industry for works exceeding $20,000. Key reform measures being considered include updating the minimum insurance cover from $340,000 to a higher figure, extending the scheme … Read more

Victoria silicosis compensation reforms take effect – Daily – Insurance News

Victoria silicosis compensation reforms take effect 1 July 2022 Victorian compensation reforms to assist workers and families affected by silicosis and similar progressive occupational diseases have come into force today. The reforms mean eligible workers no longer need to prove that their injury has stabilised to access lump sum payments, while workers who have already … Read more

Andhra, Gujarat ‘top achievers’ in govt survey on reforms for business

Seven states, including Andhra Pradesh and Gujarat, have emerged as the “top achievers” in the government’s latest feedback-based survey to recognise and identify the exemplary reform measures undertaken by the states and Union Territories to improve the business environment. The latest fifth edition of the Business Reforms Action Plan … Read more

Hayne reforms ‘distracted insurers from claims management’ – Daily – Insurance News

Hayne reforms ‘distracted insurers from claims management’ 24 June 2022 Australian insurers have been urged to “prioritise” improving the claims management aspect of their operations, having spent the last few years focused on complying with reforms stemming from the Hayne royal commission. Insurance consulting firm Xceedance says claims management has become even more important as … Read more

UK Should Avoid Hasty Financial Services Reforms Following Brexit: Lawmakers

Britain should avoid hasty reforms to make its financial sector more globally competitive after the industry’s separation from the European Union by Brexit, a parliamentary report said on Thursday. The finance ministry has proposed scores of changes to rules governing capital markets, company listings and insurance to exploit independence from EU regulation and create an … Read more

SBG proposes reforms to help first-time buyers get onto the property ladder

Sesame Bankhall Group (SBG) and a group of mortgage advisers have set out a series of reforms and innovations that would help make it easier for first-time buyers to get onto the property ladder. In a new white paper, called Overcoming the challenges facing UK first-time buyers, the newly formed Industry Panel for Financial Advice … Read more

Senators agree on modest US gun reforms in wake of shootings

A bipartisan group of US senators have reached a tentative deal on gun-control measures in the wake of a string of deadly mass shootings which, though modest, would amount to the most substantial new restrictions in decades if enacted. The nascent agreement, announced on Sunday and endorsed by 10 Republicans and 10 Democrats, includes funding … Read more

‘Big Four’ Audit Firms Targeted for Reforms in UK After Spate of Corporate Failures

Britain set out sweeping reforms of big company audits on Tuesday after high-profile collapses at builder Carillion and retailer BHS in recent years hit thousands of jobs and raised questions about accounting quality. The business ministry detailed changes to auditing and corporate governance that will be put into law, though the measures are unlikely to … Read more

UK ministers bow to pressure to water down audit and boardroom reforms

Ministers have watered down plans for an overhaul of audit and boardroom rules in the UK, dropping a proposal to require directors to sign off on companies’ internal controls and scaling back an expansion of the number of companies falling under the most stringent requirements. The changes will mean that the reforms will sweep just … Read more