Insurers act as ASIC flags ‘serious problems’ in car yard market
12 September 2016
The Insurance Council of Australia says insurers plan a 20% cap on commissions for add-on insurance products sold through car dealerships…
Regulatory & Government
FOS supports review of dispute resolution
12 September 2016
The Financial Ombudsman Service has backed efforts to ease the resolution of financial disputes…
Uber legal in Queensland as ride-share reform takes effect
12 September 2016
Ride-sharing services such as Uber are legal in Queensland after a range of reforms began rolling out last week…
ICNZ slams ‘nonsensical’ fire service funding plan
12 September 2016
The Insurance Council of New Zealand has criticised the Government’s proposal to impose a levy on insurance under its fire service reforms…
Consumer trust ‘at the heart’ of ASIC’s new corporate plan
05 September 2016
The Australian Securities and Investments Commission has outlined priorities and challenges in its corporate plan…
Terrorism pool aims to increase retrocession cover
05 September 2016
The Australian Reinsurance Pool Corporation has started renewing its retrocession cover…
Victorian building body obtains new powers
05 September 2016
The Victorian Building Authority will register and discipline building practitioners under changes that took effect last Thursday…
Fintech advisers meet Treasurer
05 September 2016
The Fintech Advisory Group met Federal Treasurer Scott Morrison on Friday to further drive development of innovation in financial services…
Insurers ‘face asset charge hit’ if Australia rating slides
05 September 2016
Insurers face higher asset risk charges if Australia’s credit rating is downgraded, Nikko Asset Management has warned…
ASIC issues guidelines on digital advice
05 September 2016
Providers of digital advice must have at least one responsible manager who meets minimum training and competence standards for advisers, according to new guidelines from the Australian Securities and Investments Commission…
Queensland calls for industry input on CTP revamp
29 August 2016
Queensland is seeking feedback from the industry and wider public on ways to improve its compulsory third party insurance scheme, which last underwent a review in 2010…
Regulator looks to embed cost savings
29 August 2016
A major shift of focus is under way at the Australian Prudential Regulation Authority as it seeks to embed planned cost savings for industries it supervises. The move follows the regulator’s recognition over the past two years of areas requiring change…
APRA targets risk-based management improvements
29 August 2016
Risk-based management strategies will be improved under a five-year corporate plan unveiled by the Australian Prudential Regulation Authority on Friday…
Victoria to overhaul taxi registration regime
29 August 2016
The Victorian Government will abolish taxi licences and create a single registration system over the next two years to provide for safer, simpler and more flexible trips, it says…
APRA defers derivatives rule
29 August 2016
The introduction of risk standards for non-centrally cleared derivatives has been deferred by the Australian Prudential Regulation Authority…
RBNZ warns insurers over data collection
29 August 2016
The Reserve Bank of New Zealand says insurers may be issued “public warnings” if they fail to comply with a new data collection regime…
icare makes big changes to NSW compo scheme
22 August 2016
Insurance & Care NSW will directly undertake policy and billing requirements for the state’s workers’ compensation scheme from early next year…
ICA urges legislative tweak to pave way for digital PDS
22 August 2016
The Insurance Council of Australia has asked the Government to amend the Insurance Contracts Act 1984 so insurers can digitally deliver product disclosure…
Road freight regulator sets out safety plan
22 August 2016
The National Heavy Vehicle Regulator has released a five-year blueprint to increase safety and productivity in the road freight industry…
NT chief admits TIO sale was poorly explained
22 August 2016
Chief Minister Adam Giles has conceded the NT Government could have better handled the sale of the Territory Insurance Office…