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…
Regulatory & Government
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…
ASIC sees need for more ‘key facts’ documents
20 August 2012
Short documents like key facts sheets being introduced to home and contents policies will help the Australian Securities and Investments Commission in its campaign to encourage greater levels…
NSW lawyers say workers’ comp law favours insurers
20 August 2012
Lawyers in NSW have condemned a change to workers’ compensation legislation that makes injured staff pay their own legal costs, saying it favours insurers over claimants…
Midwives get extension on PI exemption
20 August 2012
Midwife groups have welcomed the decision by health ministers to extend until June 2015 the professional indemnity insurance exemption for privately practising midwives…
New Zealand amends its insurance jurisdictions
20 August 2012
The Reserve Bank of New Zealand has published amendments to the Insurance (Prudential Supervision) Act…
NZ broker/developer pleads guilty in fraud trial
20 August 2012
A New Zealand insurance broker and property developer has pleaded guilty to 25 counts of fraud and perverting the course of justice dating back to 2002…
Government thinking about best interests duty for brokers
13 August 2012
The Government is considering how the “best interests” duty regulations will apply to general insurance products…
Best interests duty applies to scaled advice
13 August 2012
All brokers and life insurance advisers will still have to apply the “best interests” duty when giving scaled advice…