ASIC examines financial adviser PI
30 March 2015
The Australian Securities and Investments Commission is investigating professional indemnity insurance for financial advisers, Deputy Chairman Peter Kell says…
Regulatory & Government
ICA warns on changes to sex abuse limitation periods
30 March 2015
Compensation claim limitation periods can pose an obstacle to victims of institutional sexual abuse, but changing them could present challenges to insurers, according to the Insurance Council of Australia…
ASIC chief calls for tougher penalties, user-pays system
23 March 2015
Australia needs tougher penalties for white-collar crime, Australian Securities and Investments Commission Chairman Greg Medcraft told the regulator’s annual forum today…
MP calls for farm drought insurance scheme
23 March 2015
Federal Coalition backbencher Dan Tehan has described a forthcoming agriculture white paper as a “once-in-100-year opportunity” to create a drought insurance regime that gives farmers financial security and long-term certainty…
ASIC bans broker Bowmaker
23 March 2015
The Australian Securities and Investments Commission has permanently banned the former director of All Class Insurance Brokers, Leroy Bowmaker, from engaging in credit activity…
APRA shakes up leadership roles
23 March 2015
The Australian Prudential Regulation Authority has appointed Steve Matthews as EGM Corporate Services, in a major shake-up of its leadership team…
ASIC calls for action on cyber resilience
23 March 2015
Businesses should assess and improve their cyber resilience as attacks increase, the Australian Securities and Investments Commission warns…
APRA wants boards to steer compliance
23 March 2015
“Ultimate responsibility” for a financial institution’s compliance with regulatory standards lies with its board, the Australian Prudential Regulation Authority says…
ASIC increases research into consumer behaviour
23 March 2015
The Australian Securities and Investments Commission is increasing its use of behavioural economics, to see how psychology affects consumer and market actions…
Insurers criticised over WA CTP submissions
16 March 2015
The Insurance Commission of WA says insurers’ submissions on a proposed no-fault compulsory third party scheme for the state could be self-serving…
No need to fear product intervention powers: ASIC
16 March 2015
The Australian Securities and Investments Commission supports the Financial System Inquiry’s recommendation that it gain product intervention powers, says Deputy Chairman Peter Kell…
Tanzer spells out ASIC successes
16 March 2015
The Australian Securities and Investments Commission banned 57 people from providing financial services in 2013/14, according to Commissioner Greg Tanzer…
NZ Reserve Bank issues draft data form
16 March 2015
The Reserve Bank of New Zealand has issued a draft insurer return for collecting data from insurers…
ASIC to host forum
16 March 2015
The Australian Securities and Investments Commission will hold its annual forum in Sydney on Monday and Tuesday next week…
ICNZ cool on raising dispute scheme cap
16 March 2015
The Insurance Council of New Zealand is unlikely to support plans to raise the cap on compensation that dispute resolution schemes can award in property insurance cases…
RBNZ gives qualified tick to insurers’ risk governance
16 March 2015
New Zealand insurers’ risk governance is reasonably good and most are working to further improve it, according to the Reserve Bank of New Zealand…
Vic WorkSafe chiefs sacked over contamination scandal
09 March 2015
Victorian WorkSafe CEO Denise Cosgrove and Chairman David Krasnostein have been dismissed by Premier Daniel Andrews over toxic contamination of mains water at the Fiskville Country Fire Authority training centre…
Allianz, AHI at odds over consumer credit scandal
09 March 2015
Allianz has agreed to appoint an independent external company to review its supervision of third parties and to refund people who bought consumer credit insurance from payday lender The Cash Store…
Treasury calls for input on national injury scheme
09 March 2015
Treasury has called for submissions on its draft impact statement on the National Injury Insurance Scheme, which may affect compulsory third-party and workers’ compensation premiums in Australia…
Industry offered chance to make tax argument
09 March 2015
The Federal Government will soon release a discussion paper on tax reform, and Assistant Treasurer Josh Frydenberg has urged the insurance industry to participate…