Winter is here in Australia so for all those antipodeans out there, grab a hot tea and warm up with some InsurTech news!
If you’re new here, welcome! 👋 This fortnightly newsletter highlights the most intriguing #insurtech and #insurance developments from the past two weeks. Be sure to hit subscribe to stay updated!
Now, let’s dive into this edition’s top picks…
In this edition’s news:
🧑⚖️ASIC is off to court
Australia’s securities and consumer protection regulator, ASIC, is in court in some high stakes cases. It is seeking special leave to appeal to the High Court in the Block Earner litigation around crypto assets (we covered the Full Federal Court decision in Future Insurer ed 30). It’s also taken comparison website Choosi to court alleging misleading representations in relation to its insurance comparison service. Interesting reads for InsurTechs in crypto and comparison services.
📚New Insurance Code of Practice
The Insurance Council of Australia is commencing the next stage of preparing the new General Insurance Code of Practice. It says the new Code aims to be “consumer-centric, modern, fit-for-purpose, and contractually enforceable”. ASIC has had the power to designate enforceable code provisions for some time but it has not yet done so for General Insurance. The new Code is expected to be submitted to ASIC for approval in mid 2026.
🚗 “Grab” some car insurance
Car booking service “Grab” in Singapore is looking to operate as a general insurer. “GrabInsure” will provide motor insurance tailored to the needs of its users. Grab launched its insurance offering in 2020 with Chubb, offering travel insurance and personal accident covers. The announcement follows the trend of increasing embedded insurance offerings.
🤖Insurance Europe responds on EIOPA’s draft AI opinion
Insurance Europe has responded to EIOPA’s draft AI opinion, cautioning the current draft may unintentionally introduce new requirements, lack proportionality, and create confusion due to overlapping regulations. The draft opinion was launched for consultation in February this year and provides further clarity on the main principles and requirements foreseen in insurance sectoral legislation that should be considered in relation to the use of AI systems.
👏New Lloyd’s CEO
Future Insurer congratulates Patrick Tiernan for his appointment as Lloyd’s CEO. His tenure commenced on 1 June 2025, read more on the Press Release.
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Tim Chan is an insurance & insurtech lawyer at global law firm Norton Rose Fulbright and Founder of The InsurTech Lawyer blog. He regularly advises insurers and startups on emerging legal issues affecting the industry. Follow Tim on Twitter: @timinsydney
Disclaimer: This newsletter provides general information only and does not constitute legal, financial, or other professional advice. It does not address the circumstances of any particular individual or entity. You should seek your own professional advice.
