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Regulatory & Government

ICA, NIBA concerned over ASIC funding

26 April 2016

General insurance representatives fear the industry will end up paying for the mistakes of banks as the Australian Securities and Investments Commission moves to an industry funding model…

Medcraft’s ASIC reign extended

26 April 2016

Australian Securities and Investments Commission Chairman Greg Medcraft will receive an 18-month extension to his term…

FOS reviews small business remit

26 April 2016

The Financial Ombudsman Service will work with the Australian Securities and Investments Commission to review the service’s small business jurisdiction…

ARPC makes senior appointments

26 April 2016

The Australian Reinsurance Pool Corporation has announced three leadership appointments, including senior insurance executive John Park as CFO…

ASIC bans WA broker

18 April 2016

The Australian Securities and Investments Commission has permanently banned a Perth-based insurance broker for misleading and deceptive conduct…

Queensland committee divided on CTP model

18 April 2016

A Queensland parliamentary committee has failed to agree on a model for a no-fault compulsory third party scheme, which the State Government wants implemented on July 1…

Suncorp urges no-fault NSW CTP

18 April 2016

The ailing NSW compulsory third party motor insurance scheme should be transformed into a no-fault program, according to a new report from Suncorp…

RBNZ reviews supervision legislation

18 April 2016

The Reserve Bank of New Zealand (RBNZ) will review the Insurance Prudential Supervision Act this year – the first review since its inception five years ago…

QBE dropped from WorkSafe Victoria’s agent panel

11 April 2016

QBE is the only company not to have its contract renewed after WorkSafe Victoria last week announced a new agent panel to manage workplace injury insurance claims and premium collection from July 1…

ICA maintains pressure on stamp duty

11 April 2016

Replacing inefficient insurance stamp duties would enable state and territory governments to raise extra funds without increasing the tax burden, according to the Insurance Council of Australia…

ICA attacks PI reforms

11 April 2016

The Insurance Council of Australia has criticised the NSW Office of State Revenue for reinterpreting legislation that would more than double the duty payable on several occupational indemnity risks…