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…
Regulatory & Government
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…
ICNZ attacks state-owned insurer plan
04 November 2013
The creation of another state-owned insurance company would be unnecessary and ill-conceived, the Insurance Council of New Zealand says…
ASIC wants national exam for advisers
04 November 2013
The Australian Securities and Investments Commission has called for a national exam to improve the training and competence of financial advisers…
APRA warns insurers against the ‘search for yield’
04 November 2013
General insurers have been warned about investment risks amid persisting low interest rates, according to the Australian Prudential Regulation Authority…
ASIC’s revenue from fines drops
04 November 2013
The Australian Securities and Investments Commission collected $85.2 million in fines last financial year, down slightly from $85.3 million…
Ausure AR told to change misleading websites
28 October 2013
The Australian Securities and Investments Commission has forced Insure 247 – which is an authorised representative of Ausure Insurance Brokers – to change misleading or deceptive advertising on its websites…
Ripoll brings experience to shadow role
28 October 2013
Bernie Ripoll has been appointed Opposition spokesman for Financial Services and Superannuation, bringing experience in the sector to the position…
ICA urges Tasmania to scrap stamp duty, fire levies
28 October 2013
The Insurance Council of Australia has called on the Tasmanian Government to scrap its 10% stamp duty on insurance and property and its fire services levies on insurance…
Victorian brokers warned about FSL changeover
28 October 2013
Carelessness may be to blame for brokers charging Victoria’s fire services levy on policies after its July 1 removal…
Net claims drop for Queensland workers’ comp
28 October 2013
WorkCover Queensland incurred net claims of $1.14 billion last financial year, down 7% due to a lower outstanding claims liability…
Financial reinsurance should be seen as debt: RBNZ
28 October 2013
The Reserve Bank of New Zealand wants to treat financial reinsurance as a loan when calculating an insurer’s minimum solvency capital…
ICA signs ‘epic’ Queensland flood data deal
21 October 2013
The Queensland Government has given the Insurance Council of Australia full access to its flood data, in a bid to address affordability issues…
IAIS begins consultation on supervision framework
21 October 2013
The International Association of Insurance Supervisors has proposed standards for insurance company boards, policyholder protection schemes and risk management policies that cover…
ARPC close on CEO appointment
21 October 2013
The Australian Reinsurance Pool Corporation is close to announcing a new CEO after David Matcham left on October 4, concluding his three-year contract…
Queensland strips minor law claims from workers’ comp
21 October 2013
The Queensland Government will exclude minor injuries from common law claims under amendments to its WorkCover legislation…
Victoria clamps down on TAC mental injury payouts
21 October 2013
Victoria is to tighten its rules on compensation payments for long-term, serious mental injury following traffic accidents…