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Regulatory & Government

NIBA fights for brokers on HBCF reform

05 December 2016

The National Insurance Brokers Association is pushing for a meeting with NSW Minister for Innovation and Better Regulation Victor Dominello over proposed reforms to the Home Building Compensation Fund…

ASIC suspends licence over report failure

05 December 2016

The Australian Securities and Investments Commission has suspended the licence of Group Underwriters and Managers after it failed to lodge audited accounts for three years…

NIBA makes case for life brokers

05 December 2016

Life risk brokers “act for and on behalf” of clients, providing critical support in understanding and obtaining cover, the National Insurance Brokers Association says in a submission to a parliamentary inquiry…

Manning turns up heat on NZ fire levy

28 November 2016

Insurance tax campaigner and LMI Group MD Allan Manning says New Zealand should reconsider its fire services levy following the latest series of earthquakes…

Feedback sought on driverless car cover

28 November 2016

The National Transport Commission is seeking feedback on insurance for automated vehicle trials, as developers seek to fine-tune the cars for Australian conditions…

ASIC bans ‘dishonest’ Perth broker

21 November 2016

The Australian Securities and Investments Commission has permanently banned former Phoenix Insurance Brokers director Sergio Amaranti for taking money from the company’s trust account…

Pick up the phone, ICA urges APRA

21 November 2016

The Insurance Council of Australia says the industry regulator should ease off using formal letters and instead pick up the phone or meet insurers face-to-face to resolve issues…

ESL monitor vows ‘close scrutiny’ of insurers

21 November 2016

Insurers’ claims of profit erosion will be rigorously monitored as NSW prepares to switch to a property-based emergency services funding regime by next July 1, authorities warn…

IAIS flags stakeholder engagement plan

21 November 2016

The International Association of Insurance Supervisors will soon announce details of a consultation on its draft stakeholder engagement plan, designed to attract consumers, academics and professional bodies…

ACCC targets extended warranty industry

14 November 2016

The Australian Competition and Consumer Commission has accepted an enforceable undertaking from Virginia Surety Company after a review of extended warranty sales…