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…
Regulatory & Government
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…
Frydenberg tipped for Sinodinos job
08 September 2014
Melbourne MP Josh Frydenberg is considered the likely replacement for Assistant Treasurer Arthur Sinodinos…
CGU’s fire levy stoush ends with enforceable undertaking
08 September 2014
Victoria’s Fire Services Levy Monitor Allan Fels has accepted an enforceable undertaking from CGU after a bitter dispute over the refund of excess sums collected from customers…
Report calls for TIO to roll out across north
08 September 2014
The Federal Government should negotiate with state authorities to let the Territory Insurance Office (TIO) extend its coverage across northern Australia, according to a report…
ICA urges restraint on underinsurance, comparators
08 September 2014
The Insurance Council of Australia recommends holding fire on regulatory intervention regarding underinsurance and price comparison websites…
Allianz rejects proposal for ‘forced marriage’ with aggregators
08 September 2014
Allianz has come out strongly against the suggestion that insurers should be compelled to co-operate with comparison websites…
PDS complexity ‘drives underinsurance’
08 September 2014
Complicated product disclosure statements contribute to underinsurance among low-income earners, according to Good Shepherd Microfinance…
APRA rejects lenders’ mortgage changes
08 September 2014
The Australian Prudential Regulation Authority has argued against giving banks more favourable treatment for loans backed by lenders’ mortgage insurance…