Insurance – Global Investment Law Watch

Australia: Financial Abuse and the Need for Better Financial Services Regulation

Feb 02 2025

In December 2024 the Parliamentary Joint Committee on Corporations and Financial Services (the Committee) published a Report following an inquiry into how well the existing financial services regulatory framework is protecting against financial abuse. The Report highlighted a range of regulatory gaps and considered how financial institutions could better mitigate the risk of financial abuse.

Australia: ASIC Puts Insurers on Notice

Dec 13 2024

By: Claudine Salameh and Tamsyn Sharpe

ASIC has recently published its findings following an investigation into the insurance industry’s level of compliance with internal dispute resolution (IDR) obligations. Report 802 Cause for complaint: Complaints handling in general insurance revealed that general insurers are consistently falling short of their legal obligations thereby limiting customers’ ability to access fair, timely and effective IDR processes.

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