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…
Regulatory & Government
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…
Tasmania legalises ride-share services
22 August 2016
Uber has won the green light to operate legally in Tasmania, with the passing of the Taxi and Hire Vehicles Amendment Bill in State Parliament last week…
ICA disputes gap insurance classification
22 August 2016
The Insurance Council of Australia has written to the NSW Government questioning its treatment of gap policies, which cover the potential shortfall between a motor insurance payout and the remainder of a vehicle loan…
ASIC rescinds financial services group’s licence
22 August 2016
Financial services business Marigold Falconer International’s licence has been cancelled over doubts it can secure professional indemnity insurance, as required by the Australian Securities and Investments Commission…
Youi NZ to admit guilt over sales misconduct charges
15 August 2016
Youi will plead guilty to misconduct charges, including making false sales pitches, filed by the New Zealand Commerce Commission…
Canberra sets up cyber squad
15 August 2016
The Federal Government has established a cyber team dedicated to identifying online terrorism-financing activities, money laundering and financial fraud…
ASIC bans fraudster Pratten
15 August 2016
The Australian Securities and Investments Commission has permanently banned Charles Pratten from providing financial services and engaging in credit activities…
Victoria flags changes to asbestos monitoring
15 August 2016
Checks for asbestos in buildings or structures developed after December 31 2003 may not be mandatory under WorkSafe Victoria’s review of occupational health and safety regulations…
EQC to cut 485 jobs as Canterbury workload winds down
15 August 2016
New Zealand’s Earthquake Commission plans to shed 485 jobs, more than half its employees, by January as its work in Canterbury enters the final phase…