3 August 2021 • 1 minute read
Insurance Industry - Regulatory Reform Roadmap
2021 is a significant year of regulatory change for the insurance industry, with reforms resulting from the Hayne Royal Commission taking effect at various points throughout the year. A number are already in place but we are only at the halfway point, with many impactful reforms still to come.
The majority of these upcoming reforms will take effect in October. While this is only a few months away, there is still work to do, and clarity to be achieved, in preparing for these upcoming reforms. Additionally, for the reforms that are already in effect, insurance businesses should now be reflecting on what system controls need to be embedded into BAU processes to ensure ongoing compliance.
Please click below to download the DLA Piper regulatory reform roadmap to help you understand the key checkpoints in navigating the reforms (both recently and soon-to-be implemented).
The majority of these upcoming reforms will take effect in October. While this is only a few months away, there is still work to do, and clarity to be achieved, in preparing for these upcoming reforms. Additionally, for the reforms that are already in effect, insurance businesses should now be reflecting on what system controls need to be embedded into BAU processes to ensure ongoing compliance.
Please click below to download the DLA Piper regulatory reform roadmap to help you understand the key checkpoints in navigating the reforms (both recently and soon-to-be implemented).
