NRMA and ACT justify 10% CTP hike
23 July 2012
Compulsory third party premiums in the ACT will jump 10% on September 1…
Regulatory & Government
Consumers don’t understand funeral insurance: ASIC
23 July 2012
Consumers do not understand the limitations of funeral insurance policies, according to an Australian Securities and Investments Commission survey on the sector…
NSW considers ESL change impact on insurers and revenue
16 July 2012
The NSW Government is considering how to lessen disruption to the insurance industry while maintaining revenue in its reform of the state’s emergency services levy on insurance premiums…
WorkCover SA moves to cut costs
16 July 2012
WorkCover SA has introduced an experience rating system for medium and large employers as it struggles to lower costs and stay competitive with other states’ workers’ compensation systems…
ASIC bans Newcastle authorised rep
16 July 2012
The Australian Securities and Investments Commission has permanently banned a Newcastle authorised representative who engaged in dishonest conduct involving more than 100 clients and $150,000…
Royal commission wants input on building standards
16 July 2012
The Canterbury Earthquakes Royal Commission is seeking comment on how to improve New Zealand’s building controls and regulatory system…
WA courts want insurers identified
09 July 2012
A controversial new WA court rule may force parties mounting legal actions to notify each other and the court who their insurer is…
NSW WorkCover freezes average premium rate
09 July 2012
NSW WorkCover will hold its average premium at 1.68% of wages following the State Government’s decision to reform the scheme and cut benefits…
Tax agents must have PI insurance
09 July 2012
Taxation and business activity statement agents must maintain professional indemnity insurance following a ruling by the Administrative Appeals Tribunal…
RBNZ adopts priority system for insurer licensing
09 July 2012
Insurance regulator the Reserve Bank of New Zealand has introduced a priority system for the 100 or so insurers that need to gain a full licence under a new insurance regulatory system…
National emergency plans on track
09 July 2012
The Federal Government says Australia’s resilience to disasters has been strengthened by “key achievements” over the past 12 months…
Regulators draft rules for global insurers
09 July 2012
The International Association of Insurance Supervisors has released draft proposals on an international supervisory framework for global insurance groups…
ASIC outlines stronger powers
02 July 2012
The Australian Securities and Investments Commission has gained stronger powers to take action against financial service providers it believes are likely to breach the law…
Licence is a privilege, not a right: ASIC chief
02 July 2012
An Australian financial services licence should be a privilege and not a right, according to Australian Securities and Investments Commission Chairman Greg Medcraft…
Former SA insurance broker charged
02 July 2012
Former insurance broker Craig John Horsell appeared in Adelaide Magistrate’s Court last week on 88 charges of dishonestly using his position…
Group purchasing bodies get further extension
02 July 2012
The Australian Securities and Investments Commission has again extended the period for group purchasing bodies to comply with breach reporting conditions…
EQC plans Hamilton claims centre
02 July 2012
New Zealand’s Earthquake Commission will open a claims processing centre in Hamilton…
NIIS may cover medical error
02 July 2012
Australia’s planned National Injury Insurance Scheme may be widened to include cover for medical error or mishap…
NRMA Insurance, ACT go to arbitration
02 July 2012
NRMA Insurance and the ACT Government have gone into arbitration after failing to reach an agreement on new compulsory third party premiums…
ACC told to win back public trust
02 July 2012
New Zealand’s Accident Compensation Corporation must improve security of information and win back public trust under a three-year contract signed with the Government last week…