ACCC backs RACQ enhanced warranty repair service
06 May 2013
The Australian Competition and Consumer Commission plans to let RACQ Insurance set the labour rate for warranty repairs undertaken by its approved network…
Regulatory & Government
ASIC consults on financial literacy plans
06 May 2013
The Australian Securities and Investments Commission has launched a consultation on its new financial literacy strategy…
ICA opposes APRA bid to publish stats
29 April 2013
The Insurance Council of Australia has raised “serious concerns” about plans to publish all information gathered under the Financial Sector (Collection of Data) Act…
Kell appointed ASIC Deputy Chairman
29 April 2013
Peter Kell will begin a five-year term as Deputy Chairman of the Australian Securities and Investments Commission on May 6…
High-risk mortgages ‘need greater risk weighting’
29 April 2013
Large mortgages require a higher risk weighting, the Insurance Council of Australia has told the Reserve Bank of New Zealand…
Terrorism insurance pool seeks detailed address data
29 April 2013
The body that runs the Federal Government’s terrorism reinsurance scheme says it will soon require extra address information for exposures in key postcodes…
Education will cut road toll, actuaries say
29 April 2013
Raising awareness of the way road accidents affect lives is the key to reducing crash numbers, according to the Actuaries Institute…
Court again delays sentence on ex-broker Horsell
22 April 2013
Former broker Craig Horsell will be sentenced next month on dishonesty charges after the Adelaide District Court last week adjourned the matter for a second time…
Regulators to move closer, quicker: KPMG
22 April 2013
Insurers face more intrusive supervision and early intervention, according to a report on global regulation…
NZ consumer law concession ‘not enough’
22 April 2013
New Zealand’s insurance industry has won a concession in the Consumer Law Reform Bill, but it does not go far enough, according to legal firm DLA Phillips Fox…
SMSF insurance advice poor, ASIC says
22 April 2013
Insurance advice given to self-managed super fund investors is often inadequate, according to a report by the Australian Securities and Investments Commission…
Risk specialists give thumbs-down to global supervision
22 April 2013
The international market benefits from the application of a variety of enterprise risk management and capital management practices, and this diversity is better than the imposition of a common framework…
Government ‘committed’ to expanding Islamic products
22 April 2013
Australia is a growth market for Islamic financial services including insurance, Parliamentary Secretary to the Treasurer Bernie Ripoll says…
IOSCO plans rule books and toolbox for consistency
22 April 2013
The International Organisation of Securities Commissions is to issue global rule books and a toolbox to promote regulatory consistency across jurisdictions…
ASIC waits on national adviser exam
15 April 2013
The Australian Securities and Investments Commission has delayed the launch of a new national financial adviser exam…
ASIC imposes bans for false insurance applications and dishonesty
15 April 2013
Several advisers have been banned for dishonesty in insurance dealings, according to the Australian Securities and Investments Commission enforcement report for the six months to December…
WorkCover Queensland consolidates operations
15 April 2013
WorkCover Queensland is to close 10 small offices and move staff to its larger customer service centres at Brendale, Cannon Hill, Oxley and Logan…
ASIC extols virtues of transparency
15 April 2013
The Australian Securities and Investments Commission has published an information sheet on the benefits of co-operating with investigations…
WA workers’ comp scheme cuts rates
15 April 2013
WorkCover WA has reduced its recommended premium rates for 2013/14 due to continued wages growth in the state…
APRA makes changes at the top
08 April 2013
Australian Prudential Regulation Authority Chairman John Laker will step down on June 30 next year, to be replaced by Wayne Byres…