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…
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…
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…
Adviser pleads guilty to false insurance applications
02 July 2012
A Sydney financial adviser has pleaded guilty to falsifying more than 60 insurance applications so she could collect commissions…
Reserve Bank of NZ gets new governor
02 July 2012
Former World Bank MD Operations Graeme Wheeler will become Reserve Bank of New Zealand Governor in September…
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…
Quake commission to use independent mediation
02 July 2012
New Zealand’s Earthquake Commission will establish an independent mediation service for disputes that can be settled by negotiation…
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…
APRA calls for views on insurance reporting changes
25 June 2012
The Australian Prudential Regulation Authority has released a new discussion paper proposing revisions to reporting requirements for general and life insurers…
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…