ASIC bans former AR after fraud sentence
31 October 2016
The Australian Securities and Investments Commission has banned former NAS authorised representative Linda Rae Whelan after she was sentenced for fraud and stealing…
Regulatory & Government
ICA outlines benefits of sustainable workers’ comp
31 October 2016
The Insurance Council of Australia has highlighted the need for socially and financially sustainable state workers’ compensation schemes…
NZ fire services levy to rise
31 October 2016
The New Zealand Fire Service Commission has proposed increasing the levy on insurance contracts by almost 40%…
RBNZ questions insurers on catastrophe risks
31 October 2016
The Reserve Bank of New Zealand is surveying insurers on the way they assess catastrophe risk exposure, as it considers stepping up its information gathering…
Terrorism pool payments to Government ‘unsustainable’
24 October 2016
The Australian Reinsurance Pool Corporation has expressed concern over its financial sustainability, blaming fees and dividends demanded by the Federal Government…
Lawyers’ campaign stalls NSW greenslip reforms
24 October 2016
Reforms to the NSW compulsory third party scheme have been delayed after the legal profession stepped up its campaign against the proposals…
IAG pays out $6.8 million over ESL errors
24 October 2016
IAG will pay nearly $7 million in refunds to customers and donations to emergency organisations over charging errors related to the NSW emergency services levy…
ICA urges lighter touch on dispute resolution reform
24 October 2016
There is no need to create a new dispute resolution body for the financial services sector, the Insurance Council of Australia says…
EQC nears finishing line for Canterbury
24 October 2016
New Zealand’s Earthquake Commission paid $NZ495 million in the year to June 30 settling claims from the Canterbury quakes, as it strives to finish the task…
Queensland opens consultation on climate adaptation
24 October 2016
The Queensland Government is seeking feedback on plans to minimise climate change impacts on communities and business…
O’Dwyer names ASIC review taskforce
24 October 2016
Minister for Revenue and Financial Services Kelly O’Dwyer has announced members and terms of reference for the Australian Securities and Investments Commission Enforcement Review Taskforce…
APRA steps up risk culture supervision
24 October 2016
The Australian Prudential Regulation Authority will intensify efforts to curb excessive corporate risk-taking that could endanger the financial sector’s stability…
FOS calls for last-resort compo scheme
17 October 2016
A compensation scheme of last resort should be established for consumers, the Financial Ombudsman Service has told a government review…
Terrorism pool joins international forum
17 October 2016
The Australian Reinsurance Pool Corporation has joined a forum set up to promote greater collaboration between the world’s terrorism reinsurance pools…
ICA supports industry bid to cap car dealer commissions
17 October 2016
The Insurance Council of Australia has backed a regulatory request to limit commissions for add-on insurance sold through car dealerships, saying it will lead to significant benefits for consumers…
Bankers want ombudsmen cut back
17 October 2016
The Australian Bankers’ Association wants a one-stop shop to handle consumers’ financial services complaints…
APRA urges insurers, trustees to act on claims
17 October 2016
The Australian Prudential Regulation Authority wants life insurers and superannuation fund trustees to work together on claims management…
Victoria moves to reform TAC, WorkSafe benefits
17 October 2016
The Victorian Government has introduced legislation to improve benefits under the Transport Accident Commission and WorkSafe schemes and establish a statutory watchdog to oversee dispute resolution…
APRA makes case for risk culture supervision
17 October 2016
The Australian Prudential Regulation Authority has a “legitimate interest” in monitoring financial institutions’ risky practices, Chairman Wayne Byres says…
SA devotes $10 million to putting driverless cars on road
17 October 2016
The SA Government has established a $10 million fund to encourage the research, development and testing of connected and autonomous vehicle technology in the state…