Pratten awaits sentence after hearings conclude
08 April 2013
Convicted tax fraudster Charles Pratten is awaiting his sentence after judgement was reserved at the conclusion of his recent sentencing hearing…
Regulatory & Government
NIIS for criminal injury poses ‘significant task’
08 April 2013
Advisers helping to establish the National Injury Insurance Scheme have created new working groups…
Medcraft pushes global co-operation
08 April 2013
New International Organisation of Securities Commissioners Chairman Greg Medcraft says he wants to increase engagement with members and stakeholders, while creating industry benchmarks…
Report calls for overhaul of Comcare scheme
08 April 2013
The Federal Government’s workers’ compensation scheme requires substantial changes in almost every area, according to a new report…
Innovation poses challenge to regulators, ASIC warns
08 April 2013
Innovation in products and technology is a concern for regulators, according to Australian Securities and Investments Commission Chairman Greg Medcraft…
Conglomerates framework proves a ‘complex exercise’
25 March 2013
Developing a prudential framework for conglomerates is not easy but it will be worth it to avoid an “AIG problem”, where the activities of other financial arms nearly brought down the insurer, according to…
ASIC bans Sydney broker over dishonest conduct
25 March 2013
The Australian Securities and Investments Commission has permanently banned Sydney broker Ronald Coshott from providing financial services, after finding he engaged in dishonest conduct…
Reinsurers hit hardest by Canterbury claims: RBNZ
25 March 2013
International reinsurers paid almost 65% of insurance claims from the Canterbury earthquakes, according to the Reserve Bank of New Zealand…
SA WorkCover rates stay at 2.75%
25 March 2013
WorkCover SA has frozen its 2013/14 average premium rate at 2.75% of wages for the third year running…
QBE to quit SA builders’ warranty market
18 March 2013
QBE and the SA Government are in emergency talks after the insurer announced its withdrawal from the state’s builders’ warranty market…
ICA calls for safeguards on APRA powers
18 March 2013
The Insurance Council of Australia says its members are concerned about the Australian Prudential Regulation Authority gaining greater power without adequate safeguards…
Investment returns puts WorkSafe Victoria back in black
18 March 2013
WorkSafe Victoria returned to profit in the six months to December 31, as workplace injuries fell to a record low…
ASIC seeks performance feedback
18 March 2013
The Australian Securities and Investments Commission is calling for feedback as part of its third stakeholder survey…
Solve affordability issue or be regulated, industry told
11 March 2013
Insurance affordability and an onslaught of international regulation are key challenges for the industry, according to Ian Harper of Deloitte Access Economics…
APRA to focus on boards, disclosure and risk management
11 March 2013
The Australian Prudential Regulation Authority will continue to work on improving disclosure and risk management, according to Executive Member Ian Laughlin…
Government wants industry input into insurance affordability solution
11 March 2013
The insurance industry must help the Federal Government find ways to make insurance more affordable, the Insurance Council of Australia regulatory update seminar has heard…
Brokers hold on to commissions under ASIC rules
11 March 2013
The National Insurance Brokers Association is still reviewing the Australian Securities and Investments Commission’s conflicted remuneration regulatory guide…
SA to introduce CTP revamp
11 March 2013
Premiums will be cut on SA’s compulsory third party scheme from July 1, under legislative changes introduced last week…
APRA rules on actuarial calculations
11 March 2013
The Australian Prudential Regulation Authority has clarified its expectations for insurers’ calculation of the premium liability offset…
ACC names Willis executive as new CEO
11 March 2013
New Zealand’s Accident Compensation Corporation has named Scott Pickering of Willis as its new CEO, following the departure of Ralph Stewart last December…