Insurance Council of Australia
2009 Regulatory Update



Useful Links

Australian and New Zealand Institute of Insurance and Finance

The Australian and New Zealand Institute of Insurance and Finance is the leading provider of education, training and professional development services to the insurance and financial services industry in Australia, New Zealand and the Asia Pacific region.

Financial Literacy Foundation

The Financial Literacy Foundation was established by the Australian Government in June 2005 to give all Australians the opportunity to increase their financial knowledge and better manage their money.

Australian Prudential Regulation Authority

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the Australian financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry.

Australian Competition & Consumer Commission

The Australian Competition and Consumer Commission is an independent statutory authority that was formed in 1995 to administer the Trade Practices Act 1974 and other acts. The ACCC promotes competition and fair trade in the market place to benefit consumers, business and the community. It also regulates national infrastructure industries.

Australian Securities & Investments Commission

ASIC is Australia’s corporate, markets and financial services regulator and contributes to Australia’s economic reputation and wellbeing by ensuring that Australia’s financial markets are fair and transparent, supported by confident and informed investors and consumers. ASIC is an independent Commonwealth Government body.

Financial Ombudsman Service

The Financial Ombudsman Services (FOS) independently and impartially resolves disputes between consumers, including some small businesses, and participating financial services providers. FOS independent dispute resolution processes cover complaints about financial services including banking, credit, loans, general insurance, life insurance, financial planning, investments, stock broking, managed funds and pooled superannuation trusts.

Insurance Statistics Australia Ltd

Insurance Statistics Australia (ISA) was established in 1988 by a group of Australian insurance companies wanting to produce management information of relevance to the pricing and profitability of selected classes of insurance business. Since its introduction, ISA has become an authoritative information source for the insurance industry, managing data on behalf of the ISA members and Insurance Council of Australia.

(NIBA) National Insurance Brokers Association

NIBA is the peak professional body for insurance intermediaries and represents insurance brokerages, authorised representatives and underwriting agencies and wholesale brokerages licensed to operate in the life and general insurance sectors.

Australian Reinsurance Pool Corporation

The ARPC is a statutory corporation established under the Terrorism Insurance Act 2003 to offer reinsurance for terrorism risk in Australia. The Terrorism Act 2003 renders terrorism exclusion clauses in eligible insurance contracts ineffective in relation to loss or liabilities arising from a declared terrorist incident affecting eligible property located in Australia.

National Motor Vehicle Theft Reduction Council (Car Safe)

The National Motor Vehicle Theft Reduction Council (NMVTRC) is a joint initiative of all Australian governments and the insurance industry. Our mission is to drive down Australia's unacceptably high level of vehicle theft. This will benefit the economic and social well-being of the nation.

The Australian Government Office of the Privacy Commissioner

The Office of the Privacy Commissioner is an independent Office which has responsibilities under the federal Privacy Act 1988 (Cth).

Emergency Management Australia

Emergency Management Australia sponsors a range of programs and activities that engage communities in building resilience to the effects of emergencies and disasters.