Note: This page is a representation of information published on the PHIAC website prior to 1 July 2015. This information is provided for reference and research purposes only.
Regulating the Industry
As part of the Council’s commitment to open and transparent regulation, this page provides information about PHIAC’s regulatory powers in relation to compliance and enforcement. The information provided is designed to give insurers and consumers a better understanding of the Council’s options for monitoring and, where necessary, intervening in the affairs of an insurer.
As the prudential regulator of the private health insurance industry, the Council has powers to supervise and regulate insurers. The Council has the power to “do all things necessary or convenient to be done for, or in connection with the performance of its functions.” (Private health insurance Act 2007– section: 264-20).
For more information consult the list of the Council’s Regulatory Powers.
To enforce its supervision, the Council exercises a range of regulatory activities
In its regulatory activities, the Council is committed to the following principles: No Surprise – Transparency – Confidentiality – Timeliness – Fairness – Responsibility – Accuracy.
For more information consult the Enforcement Principles
The Council publishes policy documents to assist the industry comply with the regulations and has risk based assessment tools to monitor compliance:
PHIAC's regulatory approach is grounded in its legislative and prudential framework