ICA hopes for insurance tax breakthrough
09 June 2015
The Insurance Council of Australia believes the Federal Government’s tax discussion paper could provide a crucial breakthrough on the long-awaited abolition of insurance stamp duty…
Regulatory & Government
ASIC turns spotlight on corporate culture
09 June 2015
Australian Securities and Investments Commission Chairman Greg Medcraft says company culture is set to become an area of interest for the regulator…
ACCC wants power to run consumer lawsuits
09 June 2015
The competition regulator has welcomed a call for it to have the power to seek redress on behalf of consumers and small businesses affected by breaches of competition law.…
ICA makes case for axing state levies
01 June 2015
Abolishing state stamp duties on insurance premiums would result in a more efficient tax system, the Insurance Council of Australia says in a submission on the Federal Government’s tax discussion paper…
ACT to complete stamp duty phase-out
01 June 2015
The ACT will remove stamp duty from general and life insurance from July 1 next year, tomorrow’s budget will show…
Victorian BWI ‘too expensive, ineffective’
01 June 2015
Builders’ warranty insurance in Victoria is “widely misunderstood, provides only limited protection for consumers and is significantly more costly than it needs to be”, according to the state’s Auditor-General John Doyle…
ASIC grants PDS relief for car dealers
01 June 2015
The Australian Securities and Investments Commission has granted Toyota Finance relief from providing product disclosure statements for business insurance for a network of car dealerships…
ASIC seeks comment on class order remakes
01 June 2015
The Australian Securities and Investments Commission has proposed remaking three banking and insurance class orders that are due to expire between October this year and October 1 2017…
WorkCover NSW extends premium reforms to large employers
25 May 2015
Some medium and large employers are promised reduced workers’ compensation premiums under a WorkCover NSW scheme beginning on June 30…
ICA rejects Harper review’s market power test
25 May 2015
The Insurance Council of Australia has rejected the Competition Policy Review’s recommendation on misuse of market power…
Treasury consults on funding levies
25 May 2015
Treasury, in conjunction with the Australian Prudential Regulation Authority, has begun consultation on financial institution supervisory levies for next financial year…
ICA slams ‘overly conservative’ APRA
25 May 2015
Australia’s onerous regulatory regime is holding back local insurers that want to pursue offshore opportunities, the Insurance Council of Australia says…
Comcare reforms split unions, employers
25 May 2015
The Australian Council of Trade Unions says the planned overhaul of Comcare will discriminate against injured workers, while the country’s biggest employers want the reform passed “in its entirety”…
Canterbury rebuild cost rises
25 May 2015
New Zealand’s Treasury has increased estimated claims costs associated with the Canterbury earthquakes, as rebuilding costs rise…
ICA calls for scrutiny on ASIC consultations
25 May 2015
The Insurance Council of Australia has proposed an annual performance review of Australian Securities and Investments Commission consultations…
New Zealand cuts ACC levies further
25 May 2015
The New Zealand Government will cut Accident Compensation Corporation levies this year and next, according to its latest budget…
ICA wants better benchmarking in APRA assessment
25 May 2015
The Insurance Council of Australia says the Australian Prudential Regulation Authority’s proposed evidence metrics require more quantifiable measures…
Degree demand ‘may cost brokers $30 million’
18 May 2015
Making a university degree the minimum education requirement for financial services providers could cost general insurance brokers $30 million, it is claimed…
Queensland gets cash for levees
18 May 2015
The Federal Government has allocated $12 million to the National Insurance Affordability Initiative for the 2015/16 financial year, with all the funds earmarked for Queensland…
WA budget approves no-fault CTP
18 May 2015
A no-fault compulsory third party scheme will be introduced in WA by July next year, the state’s budget has confirmed…