ACT finalises insurance levy axe
14 June 2016
The ACT Government has delivered on its pledge to abolish insurance tax in the 2016/17 budget, and the Insurance Council of Australia has called on other states and territories to follow suit…
Regulatory & Government
ASIC opens first ‘best-interests’ action
14 June 2016
The first “best-interests” case has been instigated by the Australian Securities and Investments Commission, against Melbourne-based adviser group NSG Services…
Queensland considers ride-share reform
14 June 2016
A Queensland Government taskforce has released a discussion paper on reform of ride-sharing regulation…
EQC chairman stays, new deputy appointed
14 June 2016
Chairman of New Zealand’s Earthquake Commission Sir Maarten Wevers has been reappointed for a further three-year term…
Insurers prepare for NSW levy transition
06 June 2016
Insurers are ready to transit to NSW’s new system of funding its fire and emergency services via a property charge after Parliament passed legislation last week to abolish the existing levy on insurance policies…
ICA demands greater transparency from regulators
06 June 2016
The Insurance Council of Australia has told Treasury’s review of the financial institutions supervisory levies proposed for 2016/17 that regulators must improve information flows to the insurance industry…
SA CTP insurer sells property
06 June 2016
SA’s public compulsory third party insurer has put its portfolio of properties up for sale…
ASIC seeks ‘robust compliance culture’
06 June 2016
The Australian Securities and Investments Commission has published its third report on licensing activity…
Speakers named for global terrorism risk insurance conference
06 June 2016
National Counter Terrorism Co-ordinator Greg Moriarty will be among the headline speakers at the Global Terrorism Risk Insurance Conference in Canberra on October 6-7…
Injured workers to get up to $221,000 in lost wages
06 June 2016
WA Workcover has imposed a 1.8% increase in the amount an injured worker can receive for loss of wages…
Insurers unite on NSW CTP reform
30 May 2016
The Insurance Council of Australia and major insurers Suncorp, IAG and QBE have called for significant reform of the NSW compulsory third party scheme and a move to a hybrid no-fault model…
Winley’s licence cancelled, MD resigns
30 May 2016
Perth authorised representative company Winley Insurance MD Jeff Bailey resigned almost four weeks before the Australian Securities and Investments Commission (ASIC) cancelled the stricken company’s Australian financial services licence…
Don’t extend unfair contract terms to insurance: ICA
30 May 2016
The Insurance Council of Australia has come out strongly against proposals to extend unfair contract terms provisions to include insurance contracts…
Tasmania reneges on CTP duty reduction
30 May 2016
The Tasmanian Government has reneged on its commitment to reduce insurance duty on compulsory third party premiums for 2017/18…
NZ insurers welcome disaster-funding pledge
30 May 2016
New Zealand will spend an extra $NZ6.2 million over the next four years on preparing for natural disasters…
ICA calls for ‘exclusion clause’ in insolvency law revamp LD
30 May 2016
The Insurance Council of Australia has urged caution in proposed changes to Australia’s bankruptcy and insolvency laws…
Queensland NIIS scheme approved by Parliament
30 May 2016
Queenslanders catastrophically injured in motor vehicle accidents will now have access to lifetime care and support…
ASIC ramps up corporate governance messages
30 May 2016
The Australian Securities and Investments Commission has made its public messages on corporate governance more easily accessible as part of its overall goal to encourage good company practices…
Mecon hit by court order over fire levy
23 May 2016
Underwriting agency Mecon Insurance has refunded customers and paid costs of $20,000 after engaging in what Consumer Affairs Victoria called “price exploitation and misleading and deceptive conduct”…
ICA prefers hybrid no-fault CTP for NSW
23 May 2016
The Insurance Council of Australia says a hybrid no-fault compulsory third party scheme is the way forward for NSW, which is looking to reform the system…