APRA appoints new divisional chiefs
12 December 2011
The Australian Prudential Regulation Authority has appointed two new EGMs, one to its diversified institutions division and another to its supervisory support division…
Regulatory & Government
FMA completes team with two further appointments
12 December 2011
The New Zealand Financial Markets Authority has finalised its strategic leadership team with two further appointments in its Auckland office…
Reinsurance levels up 50% after floods, APRA says
05 December 2011
The most significant impact of the year’s natural disasters on the industry has come from reinsurance, reinstatements and renewals, Australian Prudential Regulation Authority Executive Member…
Government puts flood cover into law
05 December 2011
As is becoming the norm for financial services bills, the Federal Government has quietly introduced the flood cover amendments to the Insurance Contracts Act…
Flood report in hands of Victorian Government
05 December 2011
The Victorian Government has received the Comrie review into last summer’s floods but as yet has no plans to release it publicly…
Workers’ comp changes become law
05 December 2011
The Federal Government’s bill reversing changes to workers’ compensation introduced by the Howard government has been passed…
Correction:
05 December 2011
On November 28 we published a report (“Strata title insurance concerns referred to ACCC”), in which Leichhardt MP Warren Entsch named several major insurers which he said had left the north Queensland…
FOFA bill No 2 spells out ‘best interest’ requirements
28 November 2011
The Federal Government has quietly slipped into Parliament the second tranche of the Future of Financial Advice reforms defining “best interest” obligations…
Strata title insurance concerns referred to ACCC
28 November 2011
The Australian Competition and Consumer Commission has been asked to investigate lack of competition and the dominance of Zurich General Insurance in the north Queensland residential…
NZ Earthquake Royal Commission to hear of major building collapses
28 November 2011
The Canterbury Earthquakes Royal Commission today begins public hearings into the collapse of major city buildings in the February 22 earthquake…
NZ to press ahead with post-election ACC privatisation
28 November 2011
The New Zealand Government will proceed with opening up its personal injury compensation system to competition following the National Party’s re-election at the weekend…
MoneySmart urges insurance checks before big cyclone season
28 November 2011
Consumer advice website MoneySmart is urging homeowners to review their insurance following the Bureau of Meteorology’s forecast of higher than normal cyclone activity for the cyclone season…
Some agreement on account balances in contracts
28 November 2011
International accounting standards boards have agreed to separate explicit account balances from insurance contract liability…
FOFA bill off to another committee
21 November 2011
The Future of Financial Advice bill has become bogged down in another parliamentary inquiry…
ASIC to investigate comparison sites
21 November 2011
The Australian Securities and Investments Commission has put general insurance comparison sites next on its review agenda…
Submissions to APRA go public
21 November 2011
Future submissions to Australian Prudential Regulation Authority consultations will be made public, but organisations will be able to request all or part of their submission remains confidential…
Liquidity rules for insurers defined by APRA
21 November 2011
The Australian Prudential Regulation Authority has released guidelines on how it wants the Basel III liquidity reforms implemented…
ASIC proposes new rules for research houses
21 November 2011
The Australian Securities and Investments Commission wants life insurance research houses to separate their consulting operations from analytical services…
Low premiums give Victoria competitive advantage, says WorkSafe chief
21 November 2011
WorkSafe Victoria will have the lowest premiums in the country next year, giving the state a great competitive advantage, Chairman Elana Rubin says in the agency’s annual report…
Enforce, communicate and monitor, new regulator told
21 November 2011
New Zealanders want their Financial Markets Authority to ensure effective enforcement, better communication with market participants and active monitoring of the market…