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Regulatory & Government

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…

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…

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…

Queensland WorkCover gets a new board

02 July 2012

Queensland’s new Liberal-National Party government has placed its stamp on the state’s WorkCover authority and its controlling body Q-COMP with the appointment of new boards to both organisations…

NSW to cut WorkCover benefits

25 June 2012

The NSW Government will open up the workers’ compensation market to new insurers and reduce benefits earlier under legislation passed through the State Parliament last week…

Accountants’ advice licence replaces exemption

25 June 2012

A new form of financial advice licence will replace the licensing exemption at present enjoyed by accountants, who will also be allowed to offer a much broader range of financial advice to clients…