NSW drivers ‘to pay less’ under planned greenslip reform
19 August 2013
Reforming the NSW third-party motor insurance scheme could shave $97 from the average premium next year, according to a report on the impact of switching to a no-fault program…
Regulatory & Government
ICA seeks delay on reinsurance counterparty data
19 August 2013
The industry needs more time to comply with a proposal to collect data on reinsurance counterparties, according to the Insurance Council of Australia…
Canberra urged to step in on state insurance taxes
12 August 2013
The Federal Government should help drive the abolition of state insurance taxes to ease affordability concerns and increase policy coverage, a Senate committee says…
Broker jailed for sending premiums to online friend
12 August 2013
Former Melbourne broker Bruce Wickett has been sentenced to 18 months in jail for stealing more than $660,000 of clients’ premiums and sending the money overseas to someone he met online…
Insurers back NZ earthquake-prone building list
12 August 2013
A new public register of earthquake-prone buildings in New Zealand will put pressure on owners to fix or demolish them, the Insurance Council of New Zealand says…
Qld WorkCover seeks medical panellists
12 August 2013
WorkCover Queensland is to appoint a new medical advisory panel…
WorkSafe NZ to launch in December
12 August 2013
The New Zealand Government is to establish a new national health and safety regulator…
Broker awaits sentencing for $660,000 theft
05 August 2013
Victorian broker Bruce Wickett will be sentenced on Friday for stealing more than $660,000 of clients’ money…
ASIC bans Perth broker Barr
05 August 2013
The Australian Securities and Investments Commission has permanently banned a Perth-based broker for misleading and deceptive conduct…
ICA dismisses call for protection levy
05 August 2013
The Insurance Council of Australia has rejected the suggestion that a new levy on bank deposits should be extended to insurance policies to increase consumer protection…
ASIC to scrutinise authorised reps’ PI cover
05 August 2013
The Australian Securities and Investments Commission is to check that financial advisers’ authorised representatives have adequate professional indemnity cover…
ASIC proposes new record-keeping rules
05 August 2013
The Australian Securities and Investments Commission is consulting on new record-keeping requirements for financial services licensees that provide advice to retail clients…
APRA to monitor reform progress
05 August 2013
The Australian Prudential Regulation Authority will assess how its recent reforms are tracking before introducing further changes…
ASIC cracks down on consumer credit insurance mis-selling
05 August 2013
The Australian Securities and Investments Commission is on the lookout for mis-selling of consumer credit insurance, after a study raised concerns about customer experiences when lodging claims…
Queensland to slash directors’ liability
29 July 2013
Queensland will cut back on its “draconian” directors’ liability laws, Premier Campbell Newman says…
NSW greenslip reforms ‘will cut premiums’
29 July 2013
Compulsory third party insurance reforms in NSW would bring lower premiums, the Insurance Council of Australia told a roundtable at Parliament House last week…
Law service calls for progress on affordability council
29 July 2013
The Federal Government’s slow progress setting up the National Insurance Affordability Council is causing concern, as rising premiums leave many people without cover for natural disasters…
ASIC receives significant breach alerts
29 July 2013
Insurers and brokers notified the Australian Securities and Investments Commission of 37 significant Australian financial services licence breaches in the first half…
ASIC accused of failing on NRMA ‘deception’
29 July 2013
The Australian Securities and Investments Commission has been accused of failing to deal with a complaint against NRMA Insurance…
Disability inquiry to cover insurance law
29 July 2013
The Australian Law Reform Commission will examine insurance law as part of an inquiry into potential legal barriers for disabled people…