APRA sets out GI agenda
26 August 2013
The general insurance industry faces fresh scrutiny from the Australian Prudential Regulation Authority this financial year…
Regulatory & Government
Broker Brad hasn’t been banned
26 August 2013
Sydney broker Bradley Lofts found himself caught in a bizarre coincidence last week when the Australian Securities and Investments Commission permanently banned a Queensland financial adviser…
ASIC to drop training register
26 August 2013
The Australian Securities and Investments Commission plans to scrap its register of approved training courses for financial product advisers and instead hand responsibility to educators and industry bodies…
NSW CTP revamp ‘put back a year’
26 August 2013
Compulsory third party reforms in NSW will be delayed at least a year after the State Government withdrew legislation from Parliament, according to IAG…
Matcham resigns from Australian Reinsurance Pool Corp
26 August 2013
David Matcham will step down as CEO of the Australian Reinsurance Pool Corporation when his contract ends early in October…
NZ adds unfair contracts to consumer reform
26 August 2013
The New Zealand Government proposes adding unfair contracts in insurance to consumer law reforms currently before Parliament…
APRA allows transition year for new standards
19 August 2013
The Australian Prudential Regulation Authority has delayed new rules for conglomerates and moves to harmonise risk management standards across general and life insurers and banks…
FSL Monitor steps up premium investigation
19 August 2013
Victoria’s Fire Services Levy Monitor Allan Fels has begun checks on insurers’ premium pricing to ensure it reflects removal of the charge since July 1…
NSW drivers ‘to pay less’ under planned greenslip reform
19 August 2013
Reforming the NSW third-party motor insurance scheme could shave $97 from the average premium next year, according to a report on the impact of switching to a no-fault program…
ICA seeks delay on reinsurance counterparty data
19 August 2013
The industry needs more time to comply with a proposal to collect data on reinsurance counterparties, according to the Insurance Council of Australia…
Canberra urged to step in on state insurance taxes
12 August 2013
The Federal Government should help drive the abolition of state insurance taxes to ease affordability concerns and increase policy coverage, a Senate committee says…
Broker jailed for sending premiums to online friend
12 August 2013
Former Melbourne broker Bruce Wickett has been sentenced to 18 months in jail for stealing more than $660,000 of clients’ premiums and sending the money overseas to someone he met online…
Insurers back NZ earthquake-prone building list
12 August 2013
A new public register of earthquake-prone buildings in New Zealand will put pressure on owners to fix or demolish them, the Insurance Council of New Zealand says…
Qld WorkCover seeks medical panellists
12 August 2013
WorkCover Queensland is to appoint a new medical advisory panel…
WorkSafe NZ to launch in December
12 August 2013
The New Zealand Government is to establish a new national health and safety regulator…
Broker awaits sentencing for $660,000 theft
05 August 2013
Victorian broker Bruce Wickett will be sentenced on Friday for stealing more than $660,000 of clients’ money…
ASIC bans Perth broker Barr
05 August 2013
The Australian Securities and Investments Commission has permanently banned a Perth-based broker for misleading and deceptive conduct…
ICA dismisses call for protection levy
05 August 2013
The Insurance Council of Australia has rejected the suggestion that a new levy on bank deposits should be extended to insurance policies to increase consumer protection…
ASIC to scrutinise authorised reps’ PI cover
05 August 2013
The Australian Securities and Investments Commission is to check that financial advisers’ authorised representatives have adequate professional indemnity cover…
ASIC proposes new record-keeping rules
05 August 2013
The Australian Securities and Investments Commission is consulting on new record-keeping requirements for financial services licensees that provide advice to retail clients…