States nervous after Optus ruling
08 March 2005
The Victorian Government may legislate to ensure large companies pick up outstanding liabilities before switching to the Federal Government’s workers’ compensation scheme…
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Broker inquiry: expect something soon, says ASIC
08 March 2005
The Australian Securities and Investments Commission says its investigation into broker remuneration won’t be completed by the end of the month as originally thought…
Lax NZ laws provide rogue state with a loophole
08 March 2005
The Japanese Government is seething over a New Zealand-registered company which has supplied insurance allowing North Korean cargo ships to continue to operate in its waters…
Insurers slowing down, say analysts
08 March 2005
The insurance industry has had two years of record profits and favourable conditions, but the good times won’t last forever, according to JP Morgan analyst Shane Fitzgerald…
NSW WorkCover plans fraud refunds
08 March 2005
The NSW WorkCover scheme is planning to offer refunds to employers for the costs of fraudulent workers’ compensation claims made during the past five years…
Nothing wrong with the word profit
01 March 2005
That’s what Federal Minister for Revenue and Assistant Treasurer Mal Brough had to say to the insurance industry last week, which must have come as a relief…
Tort reform is making lawyers more creative
01 March 2005
Despite assertions by the legal fraternity that insurers are cashing in on tort reform, the introduction of tort reform hasn’t been all smooth sailing for the industry…
Combining industry strengths the way to move forward
01 March 2005
The public doesn’t distinguish brokers from underwriters, so the industry needs to work together to build its strengths, says new NIBA President Steve Ball…
No-fault not the way to go, says Swiss Re
01 March 2005
The NSW Government should steer away from introducing a no-fault system to compensate personal injury victims, says Swiss Re New York Senior Economist Thomas Holzheu…
Smash repairers angered by IAG’s option fee
01 March 2005
Insurance Australia Group is back in the smash repairers’ firing line…
Whitlam wins against IAG
01 March 2005
Former IAG Chairman Nicholas Whitlam has won damages from the insurance group after the NSW Supreme Court found it had acted unconscionably in delaying…
Premium drops – proof in the pudding?
22 February 2005
The Australian Competition and Consumer Commission’s latest report into public liability insurance says rates have dropped by 15%…
Optus wins the right to step outside
22 February 2005
Paving the way for future large companies, the Federal Court has allowed Optus to leave a state workcover scheme and join the Federal Government’s Comcare scheme…
Flood cover would have to be compulsory: ICA
22 February 2005
The next challenge to the Australian insurance industry’s reputation is as close as the next flood, according to ICA Executive Director Alan Mason…
Aon wins Hobart Ports contract
22 February 2005
Aon Australia has won the three-year insurance tender for transport infrastructure company Hobart Ports Corporation…
Brokers report rates stability
15 February 2005
Insurers may have their reasons for maintaining that market rates are holding up…
Payout for sandbank injury the last of its kind
15 February 2005
A $3.75 million jury verdict for a Sydney man paralysed in a swimming accident on Bondi Beach nearly eight years ago was upheld by the High Court last week…
NSW proposes no-fault compo scheme
15 February 2005
The NSW Government has responded to the Guy Swain court decision by proposing a no-fault compensation scheme for people who won’t be able to claim under the state’s…
Doctors jump at compo scheme
15 February 2005
While the lawyers are unhappy, Australian doctors think a no-fault scheme system is a great idea…
Lifesavers applaud tort reform
15 February 2005
Surf Life Saving Australia – which was slammed with massive public liability rate increases only 18 months ago – is very happy with the tort reform process…