ARPC chief welcomes terror alert revamp
10 August 2015
The Australian Reinsurance Pool Corporation has praised the nation’s new terror alert system, which will result in more information being passed to the public…
Regulatory & Government
Business leaders call for end to insurance stamp duty
10 August 2015
Insurance and other stamp duties are “inefficient, volatile and inequitable” and should be replaced, according to the Business Council of Australia…
ASIC hails insurance repayments
10 August 2015
The Australian Securities and Investments Commission has welcomed record court penalties imposed on consumer credit companies and credit insurers…
ICA questions contracts standard
10 August 2015
The Insurance Council of Australia wants the International Accounting Standards Board to change its proposed standard for insurance contracts, which it says disadvantages general insurers that write long-term contracts…
ACCC issues comparator site guides
03 August 2015
The Australian Competition and Consumer Commission has today released industry and consumer guides on the operation and use of comparator websites…
ASIC to chase offenders for investigation costs
03 August 2015
The Australian Securities and Investments Commission has taken a tougher approach to recovering its investigations costs from guilty parties…
Ministers take action after cladding fire
03 August 2015
Compulsory sprinklers on covered balconies and a list of approved high-risk building products may be introduced following a devastating fire in Melbourne’s Docklands…
Watchdogs team up against funeral insurance
03 August 2015
Regulators have joined forces to launch the Avoid a Funeral RIP-off campaign, aimed at indigenous communities…
Canberra told to ditch insurance taxes
03 August 2015
Insurance taxes, rates and land stamp duties should be replaced by a property services tax, KPMG has told the Federal Government’s inquiry into tax reform…
Insurers positive about APRA supervision
03 August 2015
General insurers are happy with the Australian Prudential Regulation Authority’s supervision of the industry, a stakeholder survey shows…
New guidelines encourage digital disclosure
03 August 2015
The Australian Securities and Investments Commission has released new guidelines and waivers for financial services businesses to send important information to consumers through digital channels…
Industry culture must change: ASIC
27 July 2015
Insurers must change their culture to focus on “doing the right thing”, rather than maximising profits, according to the Australian Securities and Investments Commission…
NSW workers’ comp scheme acts to stop ‘revolving door’
27 July 2015
WorkCover NSW will consult with scheme agents and their case managers to improve processes, a spokesman has told insuranceNEWS.com.au…
ICA maintains pressure on stamp duty
27 July 2015
The Insurance Council of Australia used last week’s federal and state leaders’ meeting on tax to lobby for the abolition of stamp duties on insurance policies…
ASIC’s effectiveness in for scrutiny
27 July 2015
The Insurance Council of Australia hopes a forthcoming review of the Australian Securities and Investments Commission will focus on the regulator’s responsiveness to emerging issues and the way it prioritises resources…
Home loan stress may follow LMI changes
27 July 2015
Changes to capital rules that may affect lenders’ mortgage insurance could put the home loan system under stress, according to the Insurance Council of Australia…
ASIC remakes insurance class order
27 July 2015
The Australian Securities and Investments Commission has remade a class order relating to general insurance product distribution, so the effect continues after the expiry date of next April…
RBNZ sets out data regime changes
27 July 2015
New Zealand insurers will start reporting data to the Reserve Bank each quarter as of June 30, with the first returns due by August 25…
Adviser for Ace-owned insurer gets lifetime ban
20 July 2015
The Australian Securities and Investments Commission has permanently banned a former Ace Insurance authorised representative from the financial services industry, following a probe into selling practices at Combined Insurance…
Queensland insurance tax revenue rises
20 July 2015
The Queensland Government expects revenue from insurance taxes to grow 5.9% to $938 million in 2015/16, budget papers show…