EQC class action moves step nearer
02 December 2013
About 200 people have expressed an interest in joining a group action against New Zealand’s Earthquake Commission, following a public meeting in Christchurch last week…
Regulatory & Government
NZ accident scheme flags large levy cuts
02 December 2013
New Zealand’s Accident Compensation Corporation has recommended significant levy cuts for employers and workers next financial year, plus a 5% cut for all car owners…
Advisers keeping NZ regulator busy
02 December 2013
New Zealand financial advisers accounted for 26% of enforcement action taken by the Financial Markets Authority in the last financial year…
Industry wants financial inquiry to consider risk
25 November 2013
The insurance industry believes that while the focus of next year’s financial system inquiry is skewed towards banking, it provides an opportunity to examine risk management and financing…
NSW to hold car repairs inquiry
25 November 2013
The NSW Government has announced an inquiry into motor vehicle repair work in the state, covering insurer relationships and contracts with repairers…
Reinsurance pool names new CEO
25 November 2013
Chris Wallace will become Australian Reinsurance Pool Corporation CEO from December 9…
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…