EQC sells investments as costs rise
12 September 2011
The New Zealand Earthquake Commission is to sell $NZ3.1 billion ($2.4 billion) of NZ Government bonds to the Debt Management Office…
Regulatory & Government
ASIC wants honest ads from insurers
05 September 2011
Both general and life insurers have been swept up in the Australian Securities and Investments Commission’s new paper on financial services advertising…
Councils say insurers should have time limit for claims
05 September 2011
Delays and confusion over flood cover feature in submissions from Victorian shire councils to the parliamentary inquiry into the insurance industry’s response to natural disasters…
Insurers reject legislated timeframes for disaster claims
05 September 2011
Insurance industry submissions to the parliamentary inquiry into the insurance industry’s response to natural disasters have rejected the concept of legislated timeframes for handling disaster claims…
Governments told to step up disaster mitigation
05 September 2011
Attorney-General Robert McClelland told an emergency management conference last week that all levels of government need to “pull their socks up” when it comes to disaster mitigation, education…
Export Finance and Insurance Corp faces probe
05 September 2011
The Productivity Commission will hold an inquiry into the Government-owned Export Finance and Insurance Corporation…
No surprises in FOFA draft bill
29 August 2011
The draft Future of Financial Advice legislation announced this morning hasn’t thrown up too many surprises, with the two-year opt-in period included and commissions on group life insurance…
Flood definition change ‘later this year’
29 August 2011
Changes to the Insurance Contracts Act to allow the adoption of a single definition of flood are likely to be introduced into Federal Parliament later this year, according to Insurance Council of Australia…
Brokers angry over FSL increases
29 August 2011
Brokers are furious over the Victorian Government’s lack of response to their concerns raised over a decision to raise fire service levies in regional areas by 30%, according to risk expert and industry…
Federal parliamentary inquiry to convene in Queensland
29 August 2011
The House of Representatives inquiry into the insurance industry’s response to extreme weather events will hold public hearings in Queensland next month…
Ex-Axa chief takes ACC reins
29 August 2011
The New Zealand Accident Compensation Corporation has appointed former Axa NZ CEO Ralph Stewart as its new CEO, effective from September 19…
Christchurch earthquakes inquiry: public hearings begin in October
29 August 2011
The Canterbury Earthquakes Royal Commission will begin public hearings in Christchurch on October 17…
ICA to have say on tax reform
29 August 2011
The Insurance Council of Australia has been invited to take part in the Federal Government’s tax forum in October…
FOFA’s future on a knife-edge
22 August 2011
Voting on the Federal Government’s Future of Financial Advice legislation is on a knife-edge, according to information gathered from independent MPs by insuranceNEWS.com.au late last week…
Council says insurer delays transfer flood cost to public sector
22 August 2011
Delays in settling insurance flood claims mean that costs are transferred from insurers to the public sector, according to a submission to the House of Representatives inquiry into the industry’s…
WA emergency management set for overhaul
22 August 2011
An inquiry into February’s Perth bushfires has called for greater co-ordination between emergency services and other government agencies in responding to disasters…
WA joins move to drop age barriers
22 August 2011
Age will no longer be a factor for WA’s workforce following the abolition of age-based limits on workers’ compensation claims…
Inquiry hears of insurance delays and policy confusion
15 August 2011
Delays and confusion about policy wordings are recurring themes in two WA submissions to the House of Representatives inquiry into the operation of the insurance industry during disasters…
ASIC applauds industry on claims-handling
15 August 2011
The Australian Securities and Investments Commission has commended the insurance industry on its handling of motor claims…
Skyscrapers out in new Christchurch city plan
15 August 2011
Christchurch City Council has approved a draft new city plan that will see buildings in the central business district restricted to seven storeys…