On 20 September 2018, the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Bill 2018 was referred by the Senate to the Economics Legislation Committee for inquiry. On 9 November 2018, the Committee released its report recommending the Bill be passed, with no changes suggested.
Life insurers are now required to report on claims and disputes data to APRA with the release of new compulsory standards.
The requirements for claims include measured variables such as insurance type, on-sale status, advice type, cover type, product type, and various sub-categories for specific products or cover types. The reporting form includes 3 additional claims data sheets that provide totals or sub-totals.
The industry’s proposal that life insurers should be permitted to have greater involvement in rehabilitation processes, so that sick and injured claimants can get back to work sooner was the subject of a report from the Parliamentary Joint Committee on Corporations and Financial Services on 20 September 2018.
The Committee received over twenty submissions from interested parties including a body representing the private healthcare industry, the ATCU, individual unions and plaintiff law firms who opposed the move.
And the winner of the 2018 ALUCA TurksLegal Scholarship is… Evgeney Schkola, Case Manager, CommInsure!
Welcome to the Financial Services Bulletin (FSB) – February Edition, 2019
What's happening here and now
Winner Announced for the 2018 Scholarship
And the winner of the 2018 ALUCA TurksLegal Scholarship is…Evgeney Schkola, Case Manager, CommInsure!
Summary
A NSW employer has pleaded guilty to a criminal offence under the Work Health & Safety Act 2011 and been ordered to pay a fine of $60,000 after failing to provide a safe system of work at its warehouse.
The case
Shauna O’Carroll v Pacific Magazines Pty Limited [2018] NSWWCC 265
The balance of the changes made by the Workers Compensation Legislation Amendment Act 2018 commenced on 1 January 2019. The amendments include:
Employers Liability Newsletter - January 2019
A big start to the New Year!