Williams declares bankruptcy
06 September 2005
Former HIH CEO Ray Williams has filed for bankruptcy and has already offloaded about $11.5 million of property and shares since the one-time mega insurer went down the gurgler…
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…While FAI trio declare their innocence
06 September 2005
Meanwhile, the criminal trial of former FAI executives Daniel Wilkie, Timothy Mainprize and Stephen Burroughs has begun in the Supreme Court of NSW…
NSW audits its insurance tax take
06 September 2005
The NSW Office of State Revenue has modified its demands for information from general insurance brokers after discussions with NIBA…
Leaked email pitches insurers into election debate
06 September 2005
The plan by New Zealand’s major opposition National Party to once again privatise the Accident Compensation Commission continues to attract plenty of heated debate…
Fate of Zurich investigation undecided
30 August 2005
The Australian Prudential Regulation Authority’s report into Zurich Financial Services’ misleading accounts drama is currently with Attorney-General Philip Ruddock…
Ombudsman to work on its public image
30 August 2005
The Insurance Ombudsman Service is looking at adopting a more “public” image following the completion of an independent review into its own effectiveness…
CGU changes D&O wording
30 August 2005
Less than five months after a high-profile case where CGU won a controversial High Court case over its refusal to advance costs to two directors’ and officers’ claimants…
QBE supports quoting service
30 August 2005
Issues hindering QBE’s involvement in Sunrise Exchange’s Online Quoting system have been resolved…
NZ compo scheme could return to insurers
30 August 2005
Could New Zealand’s state-owned Accident Compensation Corporation (ACC) be given back to the insurance industry…?
Victoria passes new levy on business
23 August 2005
The Victorian Government has passed the Emergency Services Bill, which will slug self-insured businesses millions more in taxes each year…
Brough uses tax issue to take a swing at Labor
23 August 2005
The Federal Government has also come to the party on the issue of state insurance taxes, saying state taxes are “impeding efforts for insurance savings”…
Not guilty plea on HIH charges
23 August 2005
Disgraced entrepreneur Brad Cooper pleaded not guilty yesterday to 13 criminal charges relating to the fall of HIH Insurance…
Get it together, repairers and insurers told
23 August 2005
The Productivity Commission inquiry into the troubled relationship between smash repairers and the insurance industry has found the ongoing rift between the industries…
Good times aren’t forever, says reinsurer
23 August 2005
The local insurance industry’s “halcyon period” since 2003 may be coming to an end, according to Aon Re Asia Pacific CEO Malcolm Steingold…
Uninformed on underinsurance
23 August 2005
You’d expect the Australian Financial Review – one of Australia’s most influential financial publications – to understand the causes and impacts of underinsurance…
Brough wants to see more rate reductions
16 August 2005
Despite the release of two separate reports showing premium drops in public liability and professional indemnity, the Federal Government still wants to see further rate reductions…
Flood data shortage denied
16 August 2005
Insurers already have sufficient information available to accurately measure flood risk in Australia, says natural hazards expert Russell Blong…
The insurers get their heads up
16 August 2005
The past five years have been busy ones for the insurance companies – HIH, rates and regulatory reform are just a few of the issues they’ve had to deal with…
ACCC approves IAG’s smash repairer scheme
16 August 2005
Despite ongoing criticisms of insurers’ use of preferred smash repairer schemes by the motor industry, the ACCC has given a thumbs-up to most aspects of the scheme being run…
State taxes blamed for underinsurance
16 August 2005
State governments are to blame for much of Australia’s underinsurance problem, according to ICA Executive Director Alan Mason…