Canberra cuts medical indemnity subsidy
05 November 2012
The Federal Government hopes to save $22.9 million over the next four years by cutting its subsidy for doctors’ medical indemnity insurance…
Regulatory & Government
Misconduct claims falling, says ASIC
05 November 2012
Corporate behaviour appears to be improving, with reports of alleged misconduct falling to their lowest level in four years, according to the Australian Securities and Investments Commission…
IAIS aims to make standards globally acceptable
05 November 2012
The International Association of Insurance Supervisors says setting standards to meet members’ needs is one of its key challenges…
Barker retains TAC role after quitting WorkSafe
05 November 2012
Paul Barker will stay on as Chairman of Victoria’s Transport Accident Commission despite resigning as deputy chairman of WorkSafe Victoria in protest at the appointment of CEO Denise Cosgrove…
NIBA holds back code from ASIC regulations
29 October 2012
The National Insurance Brokers Association will not register its recently released code of practice under the new Australian Securities and Investments Commission regulations…
Australia helps mitigate disasters overseas: Roxon
29 October 2012
The Federal Government is working on disaster mitigation overseas and at home, Attorney-General Nicola Roxon told the Asian Ministerial Conference on Disaster Reduction in Indonesia last week…
NZ ACC plans lower rates
29 October 2012
New Zealand’s Accident Compensation Corporation expects to reduce levy rates for workers and earners next financial year…
Earthquakes commission report hits delay
29 October 2012
The Canterbury Earthquakes Royal Commission will deliver its final report by November 30, after its hearings into the collapse of the CTV building in Christchurch took longer than expected…
APRA cracks down on reinsurance statements
22 October 2012
The Australian Prudential Regulation Authority is worried about insurers’ reinsurance statements after last year’s natural disasters…
Claims blowout hits Comcare
22 October 2012
The Federal Government’s in-house workers’ compensation scheme Comcare suffered a loss in the year to June as claims provisions boomed…
Canberra reviews seafarers’ compensation scheme
22 October 2012
The seafarers’ compensation scheme Seacare is to be reviewed, to bring it in line with recent maritime reforms and national work health and safety laws…
ASIC reviews financial advisers’ training
22 October 2012
The Australian Securities and Investments Commission is preparing a consultation paper on training for financial advisers as it works towards the implementation of the Future of Financial Advice…
Premiums expected to rise if NZ crime victims bill passes
22 October 2012
New Zealand insurers will review premiums if the Government passes a law allowing crime victims to seek compensation from offenders, insurance lawyers have warned…
WorkCover SA records loss
22 October 2012
WorkCover SA has reported a $437 million loss for 2011/12, while unfunded liabilities have risen to $1.4 billion from $952 million the previous year…
New CEO to join WorkSafe Victoria
22 October 2012
New Zealander Denise Cosgrove will take over as CEO of WorkSafe Victoria on November 12, replacing acting CEO Ian Forsyth…
ASIC cancels planner’s licence
22 October 2012
The Australian Securities and Investments Commission has cancelled the Australian financial services licence of Sydney-based Australian Performance Financial Planning, which had an external administrator…
APRA deals with insurer concerns on capital rules
15 October 2012
The Australian Prudential Regulation Authority says only minor issues have been raised by the insurance industry regarding its new capital standards…
Bill to scrap Victoria’s FSL passes parliament
15 October 2012
Victoria’s fire services levy is a step nearer abolition after legislation passed the State Parliament’s Legislative Council last week…
MP hits out at insurance taxes
15 October 2012
Federal Labor MP Graham Perrett has criticised the rate of tax on strata title insurance properties in north Queensland…
NSW extends emergency services levy consultation
15 October 2012
The NSW Government has extended the public consultation period on proposed reforms to its emergency services levy…