ARPC reveals Sydney siege claims cost
13 April 2015
Losses of $1.2 million from 56 claims have been reported to the Australian Reinsurance Pool Corporation in relation to last year’s Martin Place siege…
Regulatory & Government
ACC’s premiums drop, solvency rises
13 April 2015
New Zealand’s no-fault accident insurer, the Accident Compensation Corporation, cut rates on April 1 and reported solvency of 99.9% at December 31…
Taskforce to examine insurance affordability in north
30 March 2015
The Federal Government is to establish a taskforce to investigate creating a government-run reinsurance pool or mutual cyclone insurer in northern Australia to reduce home, contents and strata premiums…
Parliamentary committee raises doubts on UFIs
30 March 2015
A federal parliamentary inquiry has questioned the protection available for consumers buying house and contents cover from unauthorised foreign insurers…
Insurance taxes inefficient: white paper
30 March 2015
Insurance duties make up 8% of state and territory tax revenue, according to the tax white paper released today…
Federal Government to reform Comcare
30 March 2015
Commonwealth public servants will face tougher return-to-work requirements under proposed changes to Comcare…
Queensland to maintain disaster recovery agency
30 March 2015
Queensland is to have the country’s first permanent disaster recovery agency, under legislation approved by the State Government…
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…
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…