ASIC targets insurance add-ons
20 October 2014
The Australian Securities and Investments Commission is to focus its surveillance efforts on “add-on insurance” that is marketed inappropriately to consumers…
Regulatory & Government
WA considers move to no-fault motor cover
20 October 2014
The WA Government has issued a green paper proposing the state’s compulsory third party insurance scheme move to a no-fault basis…
Victoria fails to pass consumer building law
20 October 2014
Attempts to reform home building laws in Victoria and replace privately run builders’ warranty insurance have failed…
Commission investigates industry growth trend
20 October 2014
The Productivity Commission has launched an investigation into weak growth in the financial and insurance sector in recent years…
Consumers must not pay for regulation: IAIS
20 October 2014
Regulators must ensure the cost of supervision is not passed to policyholders, the International Association of Insurance Supervisors says…
Natural disaster funding open to public debate
20 October 2014
The Productivity Commission will next week host a series of public hearings on its interim report into natural disaster funding…
Bushfire CRC marks disaster awareness day
20 October 2014
The International Day for Disaster Reduction last Monday was the focus for a forum by the Bushfire and Natural Hazards Co-operative Research Centre in Canberra…
Legal threat ‘makes councils cave in’ on risky developments
13 October 2014
Land use planning is the “problem child” of natural disaster management, according to Productivity Commissioner Karen Chester…
Aggregator ‘no solution’ to north Queensland affordability
13 October 2014
Mandatory participation in an insurance comparison site will not solve the problem of high premiums in disaster-prone northern Queensland, according to Allianz GM Corporate Affairs Nicholas Scofield…
APRA passes parliamentary check-up
13 October 2014
Federal MPs have given the Australian Prudential Regulation Authority the nod of approval following its first parliamentary review since 2004…
SA adviser pleads guilty over false applications
13 October 2014
Banned financial services adviser Barry David Hassell has admitted dishonest conduct, including submitting false insurance applications…
APRA to review expectations on insurer boards
13 October 2014
The Australian Prudential Regulation Authority plans to review its requirements for the boards of insurance companies…
APRA tweaks risk management standard
13 October 2014
The Australian Prudential Regulation Authority says a new risk management standard should take effect in January following amendments to address potential problems flagged…
Councils warn of premium burden under disaster funding reforms
06 October 2014
Councils fear their insurance premiums will soar if the Productivity Commission’s interim report on natural disaster funding is implemented in full…
ASIC bans ‘dishonest’ NSW broker
06 October 2014
An insurance broker has been banned after an Australian Securities and Investments Commission investigation found he engaged in dishonest conduct…
ICNZ questions quarterly data collection plan
06 October 2014
Insurers are to raise concerns about quarterly data reporting requirements proposed by the Reserve Bank of New Zealand…
NSW raises cap on motor injury claims
06 October 2014
The NSW Government has raised the upper limits on damages for motor accident injuries or death under its compulsory third party scheme…
Medcraft wins new term as IOSCO chief
06 October 2014
Greg Medcraft has been re-elected as Chairman of the International Organisation of Securities Commissions…
Online quiz puts finance credentials to the test
06 October 2014
This is one for hardcore trivia buffs. The International Financial Reporting Standards Foundation has developed an online quiz to test people who fancy themselves as finance specialists…
Commission calls for more mitigation spending
29 September 2014
Natural disaster funding arrangements should be reversed, to place the emphasis on risk mitigation rather than nationally funded relief and recovery after events, the Productivity Commission says…