Investigators from the Fair Trade Commission visited the headquarters of eight insurers to secure materials linked to corporate group accident insurance tenders.
The updated guidelines also incorporate parameters such as the implementation of Indian Accounting Standards and the removal of “dark patterns” in customer interactions.
The state-owned insurer raised its holding through market purchases, crossing the regulatory threshold that requires disclosure of significant shareholding.
The Insurance Council of Australia has urged Treasury to focus Compensation Scheme of Last Resort reforms on addressing misconduct and structural issues rather than broadening industry levies.
As rising claims and mental health risks put pressure on disability insurance, APRA and ASIC are pushing insurers to improve product designs and sustainability.
The Australian regulator highlights emerging conduct, accountability and governance challenges as insurers expand AI use and distribution through digital platforms.
