Insurers say no to mandatory breach reports
10 December 2012
Australian insurers do not support a mandatory privacy breach notification regime, according to the Insurance Council of Australia…
Regulatory & Government
Report brings builders’ warranty revamp closer
10 December 2012
Reform of the Victorian builders’ warranty insurance system will move a step closer next week when State Ombudsman George Brouwer is expected to table his report on the Victorian Building Commission…
Government tries again with Insurance Contracts Act reform
03 December 2012
The Federal Government has reintroduced a draft bill amending the Insurance Contracts Act, after its previous attempt expired because of the 2010 election…
SA to proceed with ‘no-fault’ CTP scheme
03 December 2012
South Australia’s fault-based compulsory third party scheme is to be overhauled amid claims it is unfair and increasingly unaffordable…
FSL monitor to report quarterly
03 December 2012
Victoria’s new Fire Services Levy Monitor Allan Fels will start work as soon as legislation establishing his office becomes law…
Earthquake commission presents findings
03 December 2012
The Canterbury Earthquakes Royal Commission has delivered its final report to the New Zealand Government and its public release is expected by Christmas…
Air crash compensation cap rises
03 December 2012
A bill raising the cap on air accident payments from $500,000 to $750,000 for domestic flights has passed Parliament…
Disaster hub launches online
03 December 2012
A website to help communities understand and better prepare for natural disasters has been launched by the Federal Government…
Ex-NSW WorkCover chairman takes over in SA
03 December 2012
WorkCover SA has appointed former NSW WorkCover chairman Greg McCarthy as its new CEO…
ICA backs credit privacy changes
03 December 2012
New credit history legislation will let insurers in the lenders’ mortgage insurance market make better risk assessments, according to the Insurance Council of Australia…
SA CTP scheme records loss
03 December 2012
South Australia’s compulsory third party insurer, the Motor Accident Commission, made a net loss of $34.1 million in the year to June 30 – a result its CEO calls “predictable”…
Court stops former OAMPS executives joining FP Marine
26 November 2012
The NSW Supreme Court has made final orders restraining former OAMPS marine specialists Andrew Glover and Simon Gosnell from moving to FP Marine Risks or any other marine insurance broker…
APRA needs more independence: IMF
26 November 2012
The Australian Prudential Regulation Authority has a comprehensive and well-documented style of risk-based supervision, but a lack of independence and poor inter-agency co-ordination threaten its…
Funding restraints strangle ASIC, IMF says
26 November 2012
Australia’s “sound, resilient and well-managed” financial system remains at risk from global uncertainty, regulatory gaps and insufficient funding for the corporate watchdog, according to the…
Pratten sentence delayed until March
26 November 2012
Sentencing of Rural & General Insurance Brokers founder Charles Pratten was again postponed last week, following two earlier delays…
Swiss Re questions insurance contract reforms
26 November 2012
The proposed global insurance contracts accounting standard could have significant implications for insurers, but they may not achieve the level of transparency required, Swiss Re says…
NIIS reveals program principles
26 November 2012
The National Injury Insurance Scheme Advisory Group has produced a series of principles covering the design and introduction of the program, which follows reforms recommended by a…
Commonwealth supports flood inquiry findings
19 November 2012
Work to expand and centralise flood data for future studies is well under way, according to the Federal Government’s response to the Queensland floods inquiry…
New flood portal available online
19 November 2012
The Federal Government this morning launched the National Flood Risk Information Portal online…
Ex-broker Craig Horsell to be sentenced
19 November 2012
Former insurance broker Craig John Horsell will be sentenced in December after admitting three charges of dishonestly using his position to authorise payments into his personal bank account…