New Zealand cuts ACC levies further
25 May 2015
The New Zealand Government will cut Accident Compensation Corporation levies this year and next, according to its latest budget…
Regulatory & Government
ICA wants better benchmarking in APRA assessment
25 May 2015
The Insurance Council of Australia says the Australian Prudential Regulation Authority’s proposed evidence metrics require more quantifiable measures…
Degree demand ‘may cost brokers $30 million’
18 May 2015
Making a university degree the minimum education requirement for financial services providers could cost general insurance brokers $30 million, it is claimed…
Queensland gets cash for levees
18 May 2015
The Federal Government has allocated $12 million to the National Insurance Affordability Initiative for the 2015/16 financial year, with all the funds earmarked for Queensland…
WA budget approves no-fault CTP
18 May 2015
A no-fault compulsory third party scheme will be introduced in WA by July next year, the state’s budget has confirmed…
Budget boosts north Australia taskforce
18 May 2015
The Federal Government will allocate $2.1 million over two years to the Northern Australia Insurance Premiums Taskforce…
Public sector managers fear Comcare stress claims
18 May 2015
Commonwealth public service managers believe some employees consider the Comcare workers’ compensation scheme a “soft touch”, a Senate inquiry has been told…
NZ refines regulations for quake-risk buildings
18 May 2015
The New Zealand Government says it will “better target” building regulations in earthquake-prone areas…
ACC on track to deliver levy cuts
18 May 2015
New Zealand’s Accident Compensation Corporation is on target to deliver levy cuts worth $NZ500 million ($463 million) from next year…
Interest rates put pressure on NZ premiums
18 May 2015
Insurance premiums in New Zealand face “downward pressure” amid low interest rates worldwide, according to a new report…
Government names north Australia premiums taskforce
11 May 2015
Former Treasury executive director Mike Callaghan has been made head of the Northern Australia Insurance Premiums Taskforce, to examine setting up a cyclone mutual or reinsurance pool…
ASIC cancels brokers’ licences
11 May 2015
The Australian Securities and Investments Commission has cancelled the licences of two insurance brokers for failing to lodge audited annual statements…
SA unveils details of CTP privatisation
11 May 2015
The SA Government will establish an industry regulator to ensure premiums remain reasonable when it privatises the compulsory third party motor market…
ASIC works on remediation guide
11 May 2015
The Australian Securities and Investments Commission is developing a regulatory guide on review and remediation programs in the financial advice industry…
Competition slows Victorian insurance tax growth
11 May 2015
The Victorian Government has budgeted for reduced insurance tax revenue growth in 2015/16, due to pressure on rates…
Productivity Commission reveals disaster funding plan
04 May 2015
The Federal Government should give less money to states and territories following disasters and provide more funding for mitigation, the Productivity Commission says…
Brokers ‘not part of problem’ on education: NIBA
04 May 2015
The National Insurance Brokers Association says a proposed new education framework for financial advisers should not apply to its members…
NT channels TIO funds into flood mitigation
04 May 2015
The NT Government has allocated $57.5 million of the $410.9 million it made selling the Territory Insurance Office for flood mitigation projects…
Competition thrives despite stronger regulation: Byres
04 May 2015
Capital requirements are not constraining insurers and banks’ capacity to compete, Australian Prudential Regulation Authority Chairman Wayne Byres says…
Allianz pays up over breaches
04 May 2015
Some 20,000 customers have been refunded more than $1.4 million by Allianz Australia Insurance and Allianz Australia Life Insurance for two breaches of financial services law in 2013…