Victoria cuts workers’ comp premiums
23 June 2014
Victoria’s average workers’ compensation premium will be cut from 1.29% of wages to 1.27% from July 1…
Regulatory & Government
NSW WorkCover cuts 5% from premiums
23 June 2014
WorkCover premiums in NSW are to fall by an average of 5% for 200,000 employers, saving them more than $113 million a year, according to State Treasurer Andrew Constance…
RBNZ prepares for insurer data collection
23 June 2014
The Reserve Bank of New Zealand will consult in August on collecting and publishing insurance data…
Insurers pledge $8 million FSL refund
23 June 2014
Forty insurers that over-collected fire services levies in Victoria have agreed to refund about $8 million…
NZ regulatory burden satisfies FMA
23 June 2014
New Zealand’s financial services regulatory burden is “perfectly manageable” and arrangements are clearer and less fragmented than in the past, Financial Markets Authority CEO Rob Everett says…
Insurers urge Government to send message on risk
16 June 2014
Insurers have called for an overhaul of disaster funding, to give communities stronger signals about taking on risk…
APRA reviews reporting
16 June 2014
The Australian Prudential Regulation Authority is reviewing how often it publishes reports…
Stakeholders await Murray’s interim report
16 June 2014
The direction of the financial system inquiry will become clearer on July 15, with the release of its interim report and an address by chairman David Murray to the National Press Club…
VMIA recruits O’Connor as CEO
16 June 2014
The Victorian Managed Insurance Authority has appointed Paul O’Connor as CEO, replacing Warren Hutcheon…
ICT ‘keeps NZ insurance productive’
16 June 2014
New Zealand’s finance and insurance sector is a “top productivity performer” and highly innovative, according to a report by the country’s Productivity Commission…
State hosts workers’ comp workshops
16 June 2014
Workshops will be held across Victoria to outline the benefits of the Workplace Injury Rehabilitation and Compensation Act 2013…
Claims main driver of Queensland strata premiums
10 June 2014
The Australian Government Actuary’s second report on strata pricing in north Queensland says high premiums are related to claims experience, but concedes lack…
Treasury unveils draft rules on disclosure
10 June 2014
The Federal Government has released draft regulations on disclosure warnings for consumers taking out insurance…
Queensland gives some, takes a lot more
10 June 2014
The Queensland budget handed down last week contains good news and bad news for the insurance industry…
ACT moves closer to insurance tax phase-out
10 June 2014
The ACT is on target to abolish all insurance taxes by July 1 2016, Treasurer Andrew Barr announced in last week’s budget…
Disclosure can’t cure all ills: ASIC
10 June 2014
The assumption that disclosure always fixes market failures is not “borne out in practice”, according to the Australian Securities and Investments Commission…
No change for WorkCover NSW rates
10 June 2014
WorkCover NSW’s premium rate will remain at 1.47% of wages in the year from June 30, after dropping from 1.55% last December…
ASIC forced to cut surveillance
10 June 2014
The Australian Securities and Investments Commission is to scale back surveillance activities in some areas, including insurance, due to budget cuts…
Treasury reviews capital loss rules
10 June 2014
Treasury is considering removing prudential limitations on the way general insurers deal with loss absorption of regulatory capital…
Time running out for NZ building upgrade decision
10 June 2014
Insurers fear a decision on a crucial amendment to the Building Act may not arrive before New Zealand’s Parliament rises on July 31, ahead of the country’s September 20 election…