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Regulatory & Government

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…

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…

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…

Insurers hail ACT’s green light for Uber

05 October 2015

Insurers have applauded the ACT Government’s landmark decision to legalise Uber and other ride-sharing services, saying it paves the way for the industry to provide tailored motor cover…

ACT relaxes workers’ comp rules

05 October 2015

The ACT Government has relaxed reporting requirements for workers’ compensation, under a move to cut red tape…

ICWA names new commissioners

05 October 2015

The Insurance Commission of Western Australia has appointed four new commissioners to its board…