Insurers back call for natural disaster funding overhaul
29 September 2014
The insurance industry has welcomed the Productivity Commission’s draft report on natural disaster funding…
Regulatory & Government
Harper to consult further on competition
29 September 2014
The Harper Competition Policy Review will hold public forums next month and has called for further submissions…
ARPC findings due in new year
29 September 2014
A report on the future of the Australian Reinsurance Pool Corporation (ARPC) will be delivered to Treasurer Joe Hockey by January 23…
Judge criticises ASIC as fraudulent broker is sentenced
29 September 2014
Adelaide broker Paul Meier has been given a suspended jail sentence of three years and seven months for making fake loan applications in clients’ names…
IAIS sets out capital standard principles
29 September 2014
The International Association of Insurance Supervisors has established 10 principles to guide development of its risk-based global capital standard…
IAIS targets harmonisation on insurers’ losses
29 September 2014
The International Association of Insurance Supervisors says treatment of losses among global systemically important insurers (GSIIs) should be comparable across all regions…
SA workers’ comp bill ‘paves way for improvement’
22 September 2014
The SA Government’s workers’ compensation reforms provide an opportunity for positive change, according to Employers Mutual…
Review calls for reversal of NSW workcover cuts
22 September 2014
A NSW parliamentary committee has recommended restoring axed lifetime medical benefits and legal representation to the state’s WorkCover scheme…
ASIC cracks down on breach reporting
22 September 2014
The Australian Securities and Investments Commission is to review breach reporting by financial services licensees in response to alleged inconsistencies and delays…
Choice speaks up for comparison sites
22 September 2014
Choice says comparison websites benefit consumers and the Australian Prudential Regulation Authority is wrong to suggest they could lead to higher premiums…
Review casts doubt over research centres
22 September 2014
The future of co-operative research centres may be in doubt following the announcement of a wide-ranging Federal Government review…
Legal Aid calls for suitability test
22 September 2014
Consumers lack the information needed to make informed choices when buying or renewing insurance cover, Legal Aid NSW has told the Financial System Inquiry…
RBNZ consults on solvency proposals
22 September 2014
The Reserve Bank of New Zealand will hold consultation seminars next week on proposed amendments to insurance solvency standards…
Call to apply ‘Medibank model’ to housing cover
22 September 2014
Social justice campaigners have called for a universal home insurance scheme to tackle non-insurance and underinsurance…
ASIC updates record-keeping rules
22 September 2014
The Australian Securities and Investments Commission has revised its record-keeping obligations…
NIBA urges ASIC to understand brokers’ role
15 September 2014
The National Insurance Brokers Association has welcomed proposed upgrades to financial product advisers’ education requirements, but it has again expressed concern…
Sinodinos appearance raises questions about management
15 September 2014
Assistant Treasurer Arthur Sinodinos has done nothing to reinforce his suitability for the role during his latest appearance at the NSW Independent Commission Against Corruption…
White paper to address ‘crisis’ in north
15 September 2014
The cost of insurance in northern Australia will feature in a government white paper before the end of the year…
Consumer groups call for LMI, regulation inquiries
15 September 2014
The Consumer Action Law Centre and the Financial Rights Legal Centre have called for separate inquiries into the insurance industry…
ICA rejects higher general insurance training
15 September 2014
The Insurance Council of Australia says training standards for general insurance providers are suitable and the sector shouldn’t be swept up in demands for higher financial adviser education…