Aggregated News From Investment Management Regulators

ASIC letters to general and life insurers in the current COVID- environment

Report/Flag

Please complete the required fields.



27 April 2020

ASIC is committed to working constructively and pragmatically with general and life insurers to help Australians affected by the COVID Pandemic to recover, and to aid the general functioning of the economy.

ASIC expects insurers to handle insurance claims with utmost good faith and to deal with complaints genuinely, promptly, fairly and consistently.

Insurers should be flexible in dealing with consumers’ specific circumstances. Where consumers are no longer able to pay premiums due to reduced income, insurers should consider how they can best respond to this issue in order to help consumers continue to maintain key insurance coverage. This might include, where appropriate and reasonable, measures including premium ‘holidays’, deferrals, or reductions for a reasonable period of time.

ASIC also expects insurers to communicate proactively, clearly and accurately with consumers about their insurance cover, recognising the rapidly changing situation they are facing.

ASIC has written directly to general insurers and life insurers on these issues:

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

Recent Articles

SEC Charges 27 Financial Firms for Form CRS Filing and Delivery Failures

The Securities and Exchange Commission today announced that 21 investment advisers and 6 broker-dealers have agreed to settle charges that they failed to timely file and deliver their client or custo

SEC Issues Substituted Compliance Determination for France

The Securities and Exchange Commission today announced the approval of a substituted compliance determination order with respect to security-based swap dealers and major security-based swap participa

BankDeFx LTD

Attention! The FMA warns investors against concluding transactions with: BankDeFx LTD https://bankdefx.com/ [email protected] [email protected] [email protected] [email protected] This provider is not authorised to carry out banking transactions in Austria that require a...

New appointments to the Executive Team

Published on: 23 July 2021 The Authority is pleased to announce 2 new appointments to the Executive Team.

Appointment of two new Board Members

The FSA is pleased to announce the appointment of two new members to the Board – Lucy McClements and Jo Hill. Lucy and Jo’s bios can be found at: https://www.iomfsa.

Get the latest from Regulatory.News in your inbox!

×