ICA calls on NSW to revisit levy reform
12 May 2014
NSW should follow Victoria’s example and press ahead with emergency services levy reforms, according to the Insurance Council of Australia…
Regulatory & Government
Insurers ‘should lift their game’ on fire and flood risk rating
12 May 2014
Victoria’s Fire Services Levy Monitor Allan Fels is investigating how insurers are rating customers for flood and bushfire risk, following complaints of large increases in base…
WA insurance taxes to defy sluggish economy
12 May 2014
The WA Government expects revenue from insurance taxes to rise in coming years, despite slower economic growth…
APRA ensures its word is law
12 May 2014
The Australian Prudential Regulation Authority has written to insurers to provide a definition of the word “ensure”…
ASIC asks for advisers’ input on survey
12 May 2014
The Australian Securities and Investments Commission has called on intermediaries and their clients to complete its second small business survey…
Allianz calls for disaster reinsurance pool
05 May 2014
Allianz has backed the creation of a natural disaster reinsurance pool, to tackle the affordability crisis facing homeowners vulnerable to extreme weather…
Scrap insurance bodies, outsource Comcare: Audit Commission
05 May 2014
Commonwealth insurance bodies would be abolished, Comcare’s underwriting outsourced and doctors would lose medical indemnity premium subsidies under proposals by the Audit Commission…
Report calls for PI red tape cuts, licensing of funders
05 May 2014
State and territory government requirements to approve lawyers’ professional indemnity insurance should be removed, according to the Productivity Commission…
NSW signals possible WorkCover rate cuts
05 May 2014
The NSW Government may make further premium rate cuts to the state’s workers’ compensation scheme, following reductions last year…
Insurers asked to consider legal expenses cover
05 May 2014
The Productivity Commission wants to know if insurers are prepared to write legal expenses insurance…
FOFA amendments ‘lack clarity’ on advice
05 May 2014
The Insurance Council of Australia says proposed amendments to the Future of Financial Advice legislation lack clarity on the scope of advice…
NIBA wants clearer FOFA exclusions
05 May 2014
The general insurance carve-out in the Future of Financial Advice legislation needs greater clarity, the National Insurance Brokers Association says…
Inquiry stakeholders focus on regulation, technology
05 May 2014
Regulation and technology are among the key issues raised in submissions to the financial system inquiry, Chairman David Murray told a recent business lunch…
Adviser fronts court on dishonesty charges
05 May 2014
Banned financial services adviser Barry David Hassell appeared in court in Adelaide last Friday to face more than 70 counts of dishonest conduct and dozens of other charges…
Treasury snubs ICA on levy review
28 April 2014
Treasury’s response to the review of the financial institutions supervisory levy has disregarded a key point raised by the Insurance Council of Australia…
Changes to CTP claims roll out in NSW
28 April 2014
The NSW Motor Accidents Authority will launch new claims assessment guidelines for compulsory third party insurers on Thursday…
ASIC cancels Parramatta broker’s licence
28 April 2014
The Australian Securities and Investments Commission has cancelled the financial services licence of Parramatta-based WD Gelle Insurance & Finance Brokers…
National injury scheme ‘could drive up state costs’
28 April 2014
Introducing the no-fault National Injury Insurance Scheme across state boundaries would result in significant costs for Queensland and WA, according to a new report…
Victorian injury rate hits record low
28 April 2014
The Victorian WorkCover Authority says the state’s injury rate fell to a record low in the six months to the end of last year, while the body’s profit grew on investment returns…
SA freezes WorkCover rate
28 April 2014
WorkCover SA will hold its average premium rate at 2.75% of wages for the coming year…