Queensland raises insurance taxes
03 June 2013
A federal minister has joined the insurance industry in criticising the Queensland Government for increasing stamp duty on general insurance products from 7.5% to 9%…
Regulatory & Government
Quake complaints lower than expected, NZ ombudsman says
03 June 2013
New Zealand’s Insurance and Savings Ombudsman Scheme has handled more than 1000 inquiries but received only 65 formal complaints about Canterbury earthquake claims…
ACCC backs RACQ warranty repair scheme
03 June 2013
The Australian Competition and Consumer Commission has allowed RACQ Insurance to set labour rates for warranty repairs carried out by its approved network…
APRA targets ‘vulnerable and weak’ insurers
27 May 2013
The Australian Prudential Regulation Authority is to increase its focus on the way insurers manage risk in their organisations…
APRA to publish more insurance data
27 May 2013
The Australian Prudential Regulation Authority will publish more than 100 new statistics after reviewing its general insurance statistical publications…
Queensland publishes workers’ comp review
27 May 2013
The Queensland workers’ compensation scheme is meeting its objectives and compares well with other jurisdictions, according to a review of the program…
NSW greenslip changes penalise children, ALP says
27 May 2013
Children in NSW will be disadvantaged by changes to compulsory third-party motor vehicle insurance, according to the Labor Party…
Workers’ comp premiums rise for ACT construction
27 May 2013
WorkSafe ACT has recommended higher workers’ compensation premiums for the construction industry in response to its poor accident record…
Queensland dumps flood levy plan
27 May 2013
The Queensland Government has dropped plans to introduce a flood levy to raise money for mitigation work…
Tasmanian insurance tax receipts to rise 12.3%
27 May 2013
The Tasmanian Government expects to collect $79.6 million in insurance taxes next financial year, up 12.3% on the $70.9 million forecast for this year…
Queensland holds WorkCover rate
27 May 2013
WorkCover Queensland has frozen its average premium rate at 1.45% of wages for the next financial year…
ASIC bans vehicle finance and insurance broker
27 May 2013
The Australian Securities and Investments Commission has banned former vehicle finance and insurance broker Keith Son after it found he acted dishonestly…
ICA raises fears over private care laws
27 May 2013
A review of private hospital regulation could pose problems for insurers that provide indemnity cover, according to the Insurance Council of Australia…
Ex-broker Horsell fined $75,000
20 May 2013
Former broker Craig Horsell has been fined $75,000 after admitting dishonesty charges…
Best-interests duty holds no fear for brokers, NIBA says
20 May 2013
Brokers have little to fear when the best-interests duty is introduced on July 1, according to National Insurance Brokers Association CEO Dallas Booth…
Filling insurer’s new risk requirements will not be cheap
20 May 2013
The Australian Prudential Regulation Authority’s new risk management standards may prove to be expensive for insurers…
ICA backs bid to clarify LMI cover
20 May 2013
Plans for borrowers to receive lenders’ mortgage insurance information statements when home loans are approved have been “strongly” backed by the Insurance Council of Australia…
Regulator cracks down on NZ breaches
20 May 2013
The Reserve Bank of New Zealand has warned insurers it is taking a tougher approach to compliance breaches…
NT expects insurance tax collection to grow
20 May 2013
The NT Government expects to raise $36 million from insurance taxes in the year to June 30, rising to $38 million next financial year…
Spending on Canterbury rebuild rises
20 May 2013
The New Zealand Government estimates it will contribute $NZ15.2 billion ($12.62 billion) to the Canterbury earthquake recovery…