About the report
Produced
21 December 2023
Written by:
Read time
2
Click each term for related articles
1. Introduction
The Australian regulatory landscape remains turbulent and challenging, with the pace of enforcement and reform unabated and further generational regulatory change imminent. In this Insurance Regulatory Landscape 2024, we share our views on the key regulatory reforms that will shape the insurance sector in the coming year and beyond.
The global economic and political headwinds throughout 2023 have provided the impetus for an even sharper focus by Australian regulators on consumer protection measures and the protection of the prudential standing of the sector. While ASIC is now actively utilising its full regulatory ‘toolkit’ in conduct related enforcement, APRA has set its sights on elevating the standards of operational resilience which has undoubtedly been tested through the pandemic. Both regulators are charged with supervising the Financial Accountability Regime, a regime that will fundamentally expand the risk of misconduct from organisations to individuals in line with similar regimes in the UK and elsewhere.
Click the link below to download our Australian Insurance Regulatory Landscape 2024.
Product Regulation - Design and distribution obligations
Product Regulation - Claims handling
Product Regulation - Unfair contract terms
Produced
21 December 2023
Written by:
Read time
2 mins
Produced
21 December 2023
Written by:
Read time
2
End