APRA eases fears on redemption of capital instruments
25 August 2014
The Australian Prudential Regulation Authority will allow redemption of Tier 1 and Tier 2 capital instruments due to tax events…
Regulatory & Government
ASIC considers cutting PI red tape
25 August 2014
Stock market participants would no longer need to give the Australian Securities and Investments Commission (ASIC) details of their professional indemnity insurance…
RACQ wants tax deal for north Queensland insurance-buyers
18 August 2014
RACQ Insurance has called for tax deductions to be made available to people taking out insurance in cyclone-prone north Queensland…
APRA unveils plan for conglomerate supervision
18 August 2014
The Australian Prudential Regulation Authority has released a framework for the supervision of conglomerate groups, but implementation will be delayed until after the…
New law clears the way for fire protection
18 August 2014
Residents in bushfire-prone areas of NSW can clear land around their homes without seeking special permission under laws that take effect this month…
Victoria lags on bushfire retrofitting
18 August 2014
Guidelines to improve bushfire safety at Victorian schools, childcare centres, hospitals and aged care homes are more than two years overdue, according to a report on outcomes…
New Zealand FSL ‘unfair and outdated’
18 August 2014
The New Zealand Institute of Economic Research says the country should introduce property-based charges to fund its fire service, labelling the current levy on insurance…
Fire levy monitor has brokers in sights
18 August 2014
Victorian Fire Services Levy Monitor Allan Fels says he is stepping up an investigation into insurance intermediaries…
No movement on NZ Earthquake Commission review
18 August 2014
New Zealand insurers are not holding their breath on reform of the Earthquake Commission, as the country prepares for national elections next month…
Ex-Lumley chief Bhatia takes NSW state role
11 August 2014
Former Lumley General Insurance CEO Vivek Bhatia will become CEO of the NSW Government’s Safety Return to Work and Support Division…
South Australia revamps WorkCover
11 August 2014
The SA Government has introduced legislation to overhaul its workers’ compensation scheme, stopping payments to moderately injured workers after two years and establishing…
FOS adjudicators ‘should understand insurance’
11 August 2014
Adjudicators appointed to hear Financial Ombudsman Service (FOS) disputes must have an intimate knowledge of the insurance industry, RACQ Insurance says…
Regulators issue statements of intent
11 August 2014
The Australian Securities and Investments Commission considers “financial innovation-driven complexity in products” to be one of its major challenges…
Advisory group to review defence services scheme
11 August 2014
The Federal Government has appointed advisory group McGrathNicol to conduct a scoping study that could lead to abolition of the Defence Service Homes Insurance Scheme…
Terrorism pool targets expansion
04 August 2014
The Australian Reinsurance Pool Corporation hopes to expand its role to address “concerning” gaps in coverage…
Murray to host inquiry forums
04 August 2014
The Financial System Inquiry will hold public forums across the country this month to discuss its progress so far…
ICA flags problems with disclosure amendment
04 August 2014
The Insurance Council of Australia has told Federal Treasury that changes to the duty of disclosure introduce onerous requirements for insurers…
Victoria sets flood-mapping schedule
04 August 2014
The Victorian Government says it will complete statewide floodplain mapping within 18 months, with the data used for planning, emergency response and insurance pricing…
ICA warns against added legislation on contract terms
04 August 2014
Small businesses are already “well protected” when it comes to unfair contract terms in general insurance contracts, the Insurance Council of Australia has told a Federal Government review…
ASIC keeps an eye on ads
04 August 2014
Financial product advertising and the quality of advice remain on the radar of the Australian Securities and Investments Commission…