Direct insurers worry regulator
06 August 2012
The Australian Securities and Investments Commission is concerned about sales of life insurance by so-called direct insurers…
Regulatory & Government
COAG agrees to directors’ liability reform
30 July 2012
Reform of the various state and territory laws on directors’ liability is back on the agenda after the Council of Australian Governments agreed to a set of principles and guidelines around reform…
States declare payroll tax war on dealer groups
30 July 2012
State revenue offices around Australia are targeting financial planning dealer groups for payroll tax on advisers…
Comcare marked for overhaul
30 July 2012
The Federal Government is to review its Comcare workers’ compensation scheme in an attempt to cut red tape and to bring it up to contemporary best practice…
ICA wants compulsory third-party property cover for cabs
30 July 2012
The Insurance Council of Australia wants taxis in Victoria to carry mandatory third-party property damage insurance…
New code for WA WorkCover
30 July 2012
WorkCover WA’s new code of practice for insurance brokers is now in the market following the completion of a feedback and consultation process with the industry…
WorkCover WA claim numbers steady
30 July 2012
The number of claims on the WA workers’ compensation scheme remains stable, with payments increasing slightly in the past four years…
Leave business out of unfair contracts rules, says ICA
30 July 2012
The Insurance Council of Australia is opposing plans by NSW Fair Trading to extend the fair trading provisions on unfair contracts to business-to-business arrangements…
NZ court knocks back minister’s earthquake emergency decision
30 July 2012
The New Zealand High Court has overturned decisions by Earthquake Recovery Minister Gerry Brownlee aimed at providing new residential land following the Christchurch earthquakes…
Canberra to monitor state/territory insurance arrangements
23 July 2012
The Federal Government will consult the states and territories to ensure their captive insurance and reinsurance arrangements are reported transparently and on a comparable basis, Attorney-General…
ICA challenges privacy reform detail
23 July 2012
The Insurance Council of Australia has raised three significant concerns about the Federal Government’s privacy reform legislation, which is before Parliament…
Reinsurers unlikely to cause global crisis, say regulators
23 July 2012
The International Association of Insurance Supervisors has decided that reinsurers are unlikely to cause or amplify risk that could threaten the global financial system…
NRMA and ACT justify 10% CTP hike
23 July 2012
Compulsory third party premiums in the ACT will jump 10% on September 1…
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…