Actuaries call for flood pool
30 June 2014
The Federal Government should establish a temporary reinsurance flood pool to provide incentives for flood mapping and mitigation, the Actuaries Institute says…
Regulatory & Government
ICA requests broader consultation on levies
30 June 2014
The levies cover the costs of the Australian Prudential Regulation Authority and other agencies including the Australian Securities and Investments Commission…
APRA updates concentration risk charge
30 June 2014
The Australian Prudential Regulation Authority has revised prudential standard 117 concerning the asset concentration risk charge, after discovering an error in its drafting…
ICA warns on NSW motorbike laws
30 June 2014
New NSW motorbike laws could increase personal injury and motor vehicle claims costs and complexity, according to the Insurance Council of Australia…
NSW to restore WorkCover benefits
30 June 2014
Amputees and people with hearing damage will have their medical benefits restored as the NSW Government winds back cuts to its WorkCover scheme…
Call to rewrite WorkCover WA legislation
30 June 2014
A review of WA’s workers’ compensation legislation says it should be rewritten and a new statute issued…
Chia swaps ambulances for accidents
30 June 2014
The SA Motor Accident Commission has appointed Aaron Chia as CEO…
FOFA’s commissions ban avoids brokers
23 June 2014
Commissions on financial products sold following general advice will be banned under forthcoming changes to the Future of Financial Advice legislation…
SA opens CTP to private sector
23 June 2014
Private insurers will be able to offer compulsory third party motor insurance in SA from July 1 2016…
Councils attack insurers over flood data
23 June 2014
The Australian Local Government Association says all levels of government accept they must work together on risk assessment and management…
Mitigation ‘let down by consultation failings’
23 June 2014
Risk mitigation initiatives fail because they are developed without community engagement and consultation, according to Risk Frontiers…
Insurance issues ‘stall development in the north’
23 June 2014
The cost of insurance and the need to mitigate against weather hazards are impediments to the development of northern Australia, according to the federal parliamentary committee…
NSW insurance tax totals to keep rising
23 June 2014
Insurance stamp duty revenues in NSW are expected to grow at an average rate of 5.7% to $945 million in the next financial year, according to budget papers…
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…
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…