ASIC’s views on insurance regulation

In a recent speech Jeremy Cooper, Deputy Chairman of ASIC,set out ASIC’s views on regulation of the insurance industry.

He explained that the insurance industry,as a mature industry, warrants a light touch regulatory approach.

But he identified the following areas of interest:

  • changes to EDR schemes;
  • product comparisons
  • General Insurance Code of Practice review
  • under insurance
  • flood insurance
  • new insurance products
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