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…
Regulatory & Government
Court fines Europcar over unfair insurance terms
26 April 2016
The Federal Court has fined Europcar $100,000 for misleading customers about the scope of protection when they buy extra insurance…
Cyber-security plan will unlock innovation, PM says
26 April 2016
Prime Minister Malcolm Turnbull says an “open, free and secure” internet is vital for Australia’s future prosperity…
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…
Queensland cracks down on illegal ride-sharing services
26 April 2016
The Queensland Parliament has approved legislation to impose tougher fines on illegal ride-sharing services in the state…
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…
SA clears a path for ride-sharing services
18 April 2016
Uber and other ride-sharing services can operate in SA from July 1, following a review of the taxi and chauffeur vehicle industry…
ICA sets ball rolling on product disclosure research
18 April 2016
The Insurance Council of Australia is seeking researchers to conduct consumer studies on general insurance product disclosures…
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…
SA holds workers’ comp premium at 1.95%
11 April 2016
ReturnToWorkSA will maintain its average premium at 1.95% of wages next financial year…
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…
ACT reforms drive down CTP costs, review shows
11 April 2016
Compulsory third party premiums in the ACT are more affordable since the market was opened up three years ago, according to Chief Minister Andrew Barr…
Culture is your responsibility, APRA chief tells institutions
11 April 2016
Australian Prudential Regulation Authority Chairman Wayne Byres has defended the regulator’s focus on corporate culture…
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…
ASIC reports on market integrity
11 April 2016
The Australian Securities and Investments Commission has released its half-yearly report on market integrity, with a focus on deterrence, standards and education, and behavioural change…
ICA urges hull duty exemption
11 April 2016
The Insurance Council of Australia has written to the NSW Commissioner of State Revenue arguing for commercial hull insurance’s continued full exemption from duty…
NSW builders’ warranty reform falls short: NIBA
04 April 2016
The National Insurance Brokers Association has criticised proposed reforms to NSW’s state-run builders’ warranty insurance scheme…