Reinsurance pool names new CEO
25 November 2013
Chris Wallace will become Australian Reinsurance Pool Corporation CEO from December 9…
Regulatory & Government
Property premiums to drop in Victoria: FSL Monitor
25 November 2013
Victoria’s Fire Services Levy Monitor expects policyholders renewing this quarter to see significant reductions on total premiums…
ICA wants greater powers for WA motor inspectors
25 November 2013
WA regulators should have greater inspection and enforcement powers over motor vehicle dealers and repairers, the Insurance Council of Australia has told an inquiry by the state’s Department of Commerce…
RBNZ puts conditions on four insurers
25 November 2013
The Reserve Bank of New Zealand has placed conditions on the capital or solvency requirements of four insurers due to risks associated with their Canterbury earthquake claims…
ICNZ backs emergency management change
25 November 2013
Disaster co-ordination and planning will be improved by transferring the Ministry of Civil Defence and Emergency Management to the Department of Prime Minister and Cabinet…
NSW to reform strata insurance laws
18 November 2013
The NSW Government will crack down on insurance commissions to strata agents by introducing legislation on disclosure and sanctions for breaches…
Minister defends ACT flood maps delay
18 November 2013
The ACT Government has been quizzed over delays to online flood maps that would enable residents to check the risk level of their homes…
QBE refunds $1.1 million in Victorian fire service levies
18 November 2013
QBE has blamed a programming error in two of its computer systems for continuing to charge the Victorian fire services levy on premiums after it was dropped on July 1…
ICA calls for privacy law to respect insurers’ rights
18 November 2013
New legislation to punish serious privacy breaches must recognise insurers’ legitimate need to investigate fraud, the Insurance Council of Australia has told an Australian Law Reform Commission inquiry…
EQC reinsurance expense stabilises
18 November 2013
New Zealand’s Earthquake Commission has negotiated $NZ3.25 billion ($2.88 billion) of reinsurance at similar rates to last year, CEO Ian Simpson says in the annual report…
ALRC seeks submissions on disability review
18 November 2013
The Australian Law Reform Commission has called for industry feedback on an issues paper examining the impact federal laws have on disabled people…
Enforcement and globalisation to feature at ASIC annual forum
18 November 2013
The next Australian Securities and Investments Commission annual forum in March will focus on regulation across borders, enforcement and cybercrime…
Government disbands Insurance Reform Advisory Group
11 November 2013
The Insurance Reform Advisory Group has been scrapped under Prime Minister Tony Abbott’s drive to cut bureaucracy…
APRA urged to rethink levies
11 November 2013
The Australian Prudential Regulation Authority’s levy-setting methodology should be reconsidered because it is increasingly collecting levies on behalf of other agencies, according to the Australian National…
NSW avoids strata insurance commission ban
11 November 2013
The NSW Government appears to have backed away from banning the payment of insurance commissions to strata managers, but it could legislate to require full disclosure…
Government’s red tape drive to cover ASIC and APRA
11 November 2013
The Abbott Government’s push to reduce regulation will extend to the Australian Securities and Investments Commission and Australian Prudential Regulation Authority, according to…
ARPC expects commercial premiums to soften
11 November 2013
The Australian Reinsurance Pool Corporation has forecast weaker commercial property premiums, as the recent growth trend nears an end…
Psychological harm takes toll on Comcare
11 November 2013
Psychological injury costs in the Commonwealth public service continue to rise, while the length of time staff stay off work has grown in the past year…
Actuaries question global contract proposal
11 November 2013
The Actuaries Institute says some of the International Accounting Standards Board’s proposals for a single insurance contract standard must be reassessed if it is to work for all preparers and users…
PI cover failing the market, FOS warns
04 November 2013
Professional indemnity insurance is failing to fulfil its role of compensating consumers when financial service providers collapse, the Financial Ombudsman Service says…