APRA makes concession on capital requirements
10 September 2012
General and life insurers will no longer need to seek Australian Prudential Regulation Authority approval for reductions in preference equity and subordinated debt…
Regulatory & Government
Victorian FSL monitor to report on insurance prices during transition
10 September 2012
The man tasked with overseeing the end of the fire services levy in Victoria is to scrutinise and report on insurance prices during the transition period…
WorkCover Queensland: good but could be better
10 September 2012
Submissions to the Queensland Parliament on the performance of the state’s workers’ compensation scheme include calls for less red tape around self-insurance eligibility and criticism of the program’s…
New office to tackle asbestos removal
10 September 2012
Asbestos will be completely removed from the built environment by 2030 under a plan announced by the Federal Government…
NZ adviser calls for earthquake tax breaks
10 September 2012
New Zealand commercial property owners should be allowed to claim earthquake-strengthening work as a tax deduction, an Auckland-based tax expert says…
New chairman and board members for NZ ACC
10 September 2012
Paula Rebstock is the new chairman of New Zealand’s Accident Compensation Corporation, where she will be joined by three new board members in a shake-up following a privacy breach…
Shorten lists the industry’s challenges
03 September 2012
Claims from natural disasters should be assessed as quickly as any others and more progress is needed on industry issues such as the code of practice, floods and cover for elderly people…
Taxi clubs must be eradicated: report
03 September 2012
Victoria must follow other states by introducing compulsory third party property insurance for taxi drivers, a new report says…
Quake inquiry calls for tougher building standards
03 September 2012
The Canterbury Earthquakes Royal Commission has recommended further research into active faults near population centres and more work on building foundations…
ICA details seniors’ cover to Law Reform Commission
03 September 2012
The Insurance Council of Australia has handed a list of companies offering cover for seniors to the Australian Law Reform Commission…
NZ advisers escape discipline committee – for now
03 September 2012
No financial services advisers have yet been brought before New Zealand’s Financial Advisers Disciplinary Committee, according to the NZ Financial Markets Authority…
Wivenhoe dam engineers cleared
27 August 2012
Queensland’s Crime and Misconduct Commission has cleared three Wivenhoe Dam engineers whose actions were questioned after last year’s floods…
Airline passenger compensation to be increased
27 August 2012
The Australian airline passenger liability cap will be raised by $225,000 to $725,000 under a new aviation insurance bill introduced in Parliament last week…
APRA lifts income protection restrictions in super
27 August 2012
Super funds are to be allowed to buy income protection insurance from any insurer, not just life companies…
ICA calls for change in NSW building laws
27 August 2012
The Insurance Council of Australia wants a number of legislative changes to be made to the NSW Home Building Act…
NZ ACC rapped over privacy breach
27 August 2012
New Zealand’s Accident Compensation Corporation lacks a “privacy mindset”, according to a report on a privacy breach in which 6748 claimants’ personal details were mistakenly sent to a client…
Council calls for more work on SA’s PI legislation
27 August 2012
South Australia’s Professional Standards Act, which regulates professional indemnity schemes, has largely achieved its goals, the Insurance Council of Australia says…
ICA supports ACT third party changes
27 August 2012
The Insurance Council of Australia has called on the ACT Legislative Assembly to vote reforms to the territory’s compulsory third party (CTP) insurance scheme into law…
APRA fees rise as supervision increases
20 August 2012
The Australian Prudential Regulation Authority will increase its levies on users by 13.8% to $112.9 million this year and says it will maintain a heightened level of supervision in response to global…
Directors’ liability reforms released
20 August 2012
The Treasury has released the third and final part of the Federal Government’s Personal Liability for Corporate Fault Reform Bill 2012 for public comment…