On 11 December, the Australian Government announced its reform package in response to the ACCC’s digital platforms inquiry, which includes a series of initiatives designed to address the market power, transparency and fair competition associated with tech giants.
For insurers, the proposed strengthening of regulations – combined with news of the NSW Ambulance workers’ settlement in Australia’s first privacy class action – is likely to lead to an increase in cyber claims.
In this article, Kieran Doyle and Jessica Chapman explain the issues for insurers.