Queensland to slash directors’ liability
29 July 2013
Queensland will cut back on its “draconian” directors’ liability laws, Premier Campbell Newman says…
Regulatory & Government
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…
‘Double charging’ worries callers to FSL Monitor
22 July 2013
The Victorian Fire Services Levy Monitor’s office received 578 calls to its hotline between its launch on January 30 and March 31…
NSW CTP ‘unsustainable’: Suncorp
22 July 2013
The NSW compulsory third-party scheme is on an unsustainable path, according to Suncorp Commercial Insurance EGM Chris McHugh…
Woolworths ditches ‘misleading’ ads
22 July 2013
Supermarket chain Woolworths will change an advertising campaign for car insurance after the Australian Securities and Investments Commission labelled it potentially misleading…
Tower meets regulator over solvency margin
22 July 2013
Tower is in talks with the Reserve Bank of New Zealand about proposed conditions on its licence, including an increase to the minimum solvency margin…
ASIC keeps an eye on PIS compliance
22 July 2013
An independent expert is to continue monitoring Professional Investment Services, after the Australian Securities and Investments Commission expressed concerns about compliance at the dealer group…
NIAC to link up with reinsurance pool corporation
15 July 2013
The Australian Reinsurance Pool Corporation is to provide secretariat support services to the National Insurance Affordability Council…
APRA survey highlights regulatory burden
15 July 2013
The financial services sector is increasingly concerned about the burden of regulation, according to a survey on the Australian Prudential Regulation Authority’s performance…
NSW puts brakes on emergency services levy reform
15 July 2013
NSW will defer plans to end its emergency services levy on insurance while it assesses similar reforms that started in Victoria this month…
Union questions Victorian WorkCover review
15 July 2013
The Community and Public Sector Union has attacked the latest review of the Victorian WorkCover Authority, to be conducted by former state minister Roger Hallam…
Claims manager banned over $1.2 million fraud
15 July 2013
The former national claims manager of a Melbourne underwriting agency has been permanently banned from providing financial services after he was found to have fraudulently obtained more than $1.2 million…
Injury scheme motor accident standards agreed
15 July 2013
States and territories have agreed on minimum criteria for motor vehicle accident compensation programs under the new National Injury Insurance Scheme…
ICA reiterates privacy bill fears
15 July 2013
The Insurance Council of Australia says it still has concerns about the Privacy Amendment Bill 2013…
NZ’s chief regulator set to quit
15 July 2013
Sean Hughes, the CEO of New Zealand’s Financial Markets Authority, will stand down at the end of the year…
Bowmaker banned from broking
08 July 2013
The Australian Securities and Investments Commission has permanently banned Sydney broker Leroy Bowmaker from providing financial services…