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…
Regulatory & Government
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…
Lower premiums dent Queensland workers’ comp revenue
05 October 2015
WorkCover Queensland’s net premium fell 13.6% to $1.3 billion in the year to June 30, according to the 2014/15 annual report…
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…
FMA reports $NZ2.5 million loss amid regime change
05 October 2015
New Zealand’s Financial Markets Authority made a loss of almost $NZ2.5 million in the year to June 30, as implementation of its new regulatory regime pushed up costs…
ICA favours risk reduction aid for northern Australia
28 September 2015
The Insurance Council of Australia wants the Federal Government to provide financial assistance to people in northern Australia whose homes need to be made more cyclone-resistant…
ASIC rejects 106 AFSL applications in half-year
28 September 2015
The Australian Securities and Investments Commission rejected 106 applications for Australian financial services licences in the six months to June 30…
Chamber warns Queensland Government on workers’ comp pledge
28 September 2015
Business leaders say they will hold Queensland Treasurer Curtis Pitt to his promise that workers’ compensation premiums will not exceed $1.20 per $100 in wages, following a reversal of the previous government’s legislation…
ASIC reports on red-tape relief
28 September 2015
The Australian Securities and Investments Commission has released its latest report outlining decisions on relief applications…
Profit soars as Workcover WA cuts expenses
28 September 2015
WorkCover WA made a $17.9 million profit for the year to June 30, up from $7.1 million the previous financial year…
NT seeks feedback on worker safety law changes
28 September 2015
Businesses in the NT have until October 26 to comment on proposed amendments to the territory’s work health and safety legislation…
Frydenberg moves in frontbench overhaul
21 September 2015
There was no shortage of surprises in Prime Minister Malcolm Turnbull’s shake-up of the federal ministry over the weekend – including the appointment of Melbourne MP Kelly O’Dwyer as Assistant Treasurer, replacing Josh Frydenberg…
Suncorp challenges Canberra to opt for resilience
21 September 2015
Suncorp has called on the Federal Government to work with the insurance industry and communities to develop a cyclone resilience program for homes in northern Australia…
Mutual insurer draws fire from industry
21 September 2015
RACQ Insurance has rejected a proposed mutual insurer for north Queensland as too expensive to set up and too complex for consumers…
Make mutual or pool available to all, says submission
21 September 2015
A submission from the Financial Rights Legal Centre in Sydney says whichever model the Northern Australia Insurance Premiums Taskforce supports, benefits such as lower premiums should be made available to all Australians who face extreme risk…