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…
Regulatory & Government
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…
Sum-insured impact on underinsurance overstated: NZ Treasury
23 May 2016
The move to “sum insured” cover for New Zealand home insurance policies over the past five years may have resulted in up to 85% of the country’s homes being underinsured by an average of 28%, according to the NZ Treasury…
Cladding inquiry highlights ‘glaring’ regulatory weakness
23 May 2016
The Senate inquiry into non-conforming building products has highlighted a “serious breakdown” in regulation and oversight…
SA keeps its workers’ comp premium rate low
23 May 2016
ReturnToWorkSA Chairman Jane Yuile has announced the organisation will keep its premium rates at 1.95% for 2016/17…
ASIC Chairman steps down from global role
23 May 2016
Australian Securities and Investments Commission Chairman Greg Medcraft has relinquished his role as Chairman of the International Organisation of Securities Commissions…
Company’s licence suspended over PI failings
23 May 2016
The Australian Securities and Investments Commission has suspended the financial services licence of Marigold Falconer International Limited because it does not have current professional indemnity insurance…
ICA urges caution on NSW levy transition
16 May 2016
The Insurance Council of Australia has pleaded for understanding if overcharging occurs during the phasing-out of NSW’s emergency services levy…
Insurers disagree on NSW ride-sharing review
16 May 2016
Insurers have taken different approaches in submissions to a review of NSW compulsory third party premiums for the point-to-point transport market…
NSW channels $83 million into coastal management
16 May 2016
The NSW Government will dedicate $83.6 million to managing its coastline in next month’s budget…