Trans-Tasman agreements ‘should exclude insurance’
26 October 2015
Agreements aimed at removing obstacles to trade and labour mobility between Australia and New Zealand should continue to exclude insurance, a Productivity Commission report says…
Regulatory & Government
ICA, consumer groups attack ASIC funding proposal
19 October 2015
A proposed user-pays funding model for the Australian Securities and Investments Commission will eventually weaken supervision of the financial sector, according to insurer and consumer advocacy groups…
Pilbara warns premiums taskforce over regional bias
19 October 2015
Residential and business insurance costs are “much higher” in the Pilbara than in Perth and in recent years have risen “very rapidly”, the Northern Australia Insurance Premiums Taskforce has heard…
IAG, Suncorp urge ‘clarity’ on ride-share sector
19 October 2015
The rapid growth of ride-sharing services such as Uber amid an inadequate legal framework has created a gap in insurance cover, IAG says…
Insurance taxes among most inefficient: Treasury official
19 October 2015
Insurance levies and other stamp duties carry high economic costs that affect Australia’s productivity and innovation, according to a senior Treasury official…
Chalmers named Shadow Financial Services Minister
19 October 2015
Jim Chalmers has been appointed to the ALP’s shadow ministry, taking up the financial services and superannuation portfolios…
Terrorism pool aims to cut retrocession spend
19 October 2015
The Australian Reinsurance Pool Corporation has begun purchasing its retrocession program, scheduling meetings with international reinsurers this week…
NZ industry calls for distinction between sales and advice
19 October 2015
Submissions to a review of New Zealand’s Financial Advisers Act include calls for a distinction between selling products and giving advice, and urge the retention of commissions for general insurance products…
Poor culture proves costly, ASIC says
19 October 2015
Poor corporate culture affects staff retention, Australian Securities and Investments Commission Chairman Greg Medcraft has warned…
FMA’s growing role leads to restructure
19 October 2015
New Zealand’s Financial Markets Authority has announced a revised structure and key appointments to its executive committee…
Allianz stands alone with cyclone pool proposal
12 October 2015
Allianz Australia says a government-supported cyclone reinsurance pool would be an “effective and efficient” way of reducing the cost of property insurance in northern Australia…
NZ insurers blast Fire Service funding consultation
12 October 2015
New Zealand insurers have made a fresh attack on the Government’s Fire Services Review for failing to consider significant changes to the funding model…
ICA warns NSW ride-sharing taskforce of insurance issues
12 October 2015
Regulators must be mindful of the insurance implications if ride-sharing services such as Uber are legalised, the Insurance Council of Australia has told the NSW Government…
ARPC welcomes first terrorism pools congress
12 October 2015
The Australian Reinsurance Pool Corporation hopes to share knowledge at the inaugural Congress for National Terrorism (Re)insurance Pools…
Risk standard for systemically important insurers gets nod
12 October 2015
The Financial Stability Board has endorsed the higher loss absorbency requirement for global systemically important insurers…
TPP brings benefits for specialist insurers
12 October 2015
The Trans-Pacific Partnership Agreement has opened up markets for marine, trade and aviation insurers in some participating countries…
ICA questions rationale for ASIC user-pays proposal
05 October 2015
The Insurance Council of Australia says it understands why the Federal Government is evaluating an industry-funding model for the Australian Securities and Investments Commission’s regulatory activities…
Insured Group subsidiaries lose licences
05 October 2015
The Australian Securities and Investments Commission has cancelled the financial services licences of a number of brokers connected with Perth-based Insured Group…
Tax reform may take time: ICA
05 October 2015
The Insurance Council of Australia says it was not represented at Prime Minister Malcolm Turnbull’s mini-summit on economic reform last week, and it accepts the tax reforms it seeks “could take some time”…
SA opens door to driverless cars
05 October 2015
SA is on its way to becoming the first Australian state to allow driverless cars, following the introduction of new legislation…