WA Government plans insurance raid
24 October 2011
WA Treasurer Christian Porter is planning a raid on the reserves of the state’s Insurance Commission and is also considering the introduction of a dividend regime to routinely divert excess funds…
Regulatory & Government
Insurance disaster inquiry convenes in Victoria
24 October 2011
The House of Representatives inquiry into the insurance industry’s response to disasters will this week convene in Victorian towns affected by floods and fire…
Kell and Tanzer return to ASIC
24 October 2011
The Australian Securities and Investments Commission is set to beef up its protection of consumers with the return of experienced regulators Greg Tanzer and Peter Kell as commissioners…
Wellington’s quake risk may become an insurance issue
24 October 2011
Wellington, long regarded as having New Zealand’s highest seismic risk, could suffer at the hands of insurers and over-regulation in the wake of the Christchurch earthquakes, NZ Reserve Bank Governor…
ASIC slams credit insurance sales practices
24 October 2011
The Australian Securities and Investments Commission has called for improvements in the way consumer credit insurance is sold…
NSW snubs insurers for professional services taskforce
17 October 2011
The NSW Government has formed a taskforce to look into the professional services sector, but general and life insurers have been ignored…
CTP gouging claims disputed
17 October 2011
The Insurance Council of Australia has defended claims that NSW compulsory third party insurers are reaping super-profits from the scheme…
MP criticises brokers’ ability to handle claims
17 October 2011
The House of Representatives disaster inquiry has uncovered significant dissatisfaction with communication between brokers and insurers…
NZ ACC cuts levies
17 October 2011
New Zealand’s Accident Compensation Corporation will reduce compulsory levies on employers and workers next year after reporting a surplus in 2010/11…
New crisis co-ordination centre opens
17 October 2011
Attorney-General Robert McClelland opened the new $14 million Crisis Co-ordination Centre in Canberra today…
TPD tax treatment in super becomes law
17 October 2011
The Federal Government has finalised the tax treatment rules on total and permanent disability insurance in superannuation funds…
Brokers caught up in FOFA volume payments ban
10 October 2011
Poor drafting of the draft Future of Financial Advice bill on payments means general insurance brokers could be included in some bans, according to a leading financial services lawyer…
Bid to dump taxes recognised
10 October 2011
While some major steps have been made in recognising the need to abolish insurance taxes, more action is needed, Insurance Council of Australia GM Economics and Taxation Directorate…
APRA finalises GI prudential standards
10 October 2011
The Australian Prudential Regulation Authority has revised its proposed prudential standards for level two general insurers after receiving four submissions from the industry…
McClelland wants joint approach on disasters
10 October 2011
Federal Attorney-General Robert McClelland is calling on governments and the private sector to work together on disaster management…
Supervisors update core principles
10 October 2011
The International Association of Insurance Supervisors has updated its Insurance Core Principles document…
RBNZ makes provisional licensing its insurance priority
10 October 2011
The Reserve Bank of New Zealand will ensure that insurers are on the path to obtaining a full licence by September 2013 and that by next March they meet the provisional licensing requirements…
New codes to streamline work safety
10 October 2011
Safe Work Australia is a step closer to harmonising the country’s occupational health and safety laws with the release of 15 draft codes of practice…
FOFA 2: No change for broker payments
03 October 2011
The way general insurance brokers are paid will remain exactly the same and their soft-dollar benefits will also be preserved…
Natural Disaster Insurance Review report now with Government
03 October 2011
The Natural Disaster Insurance Review handed its final report to Government on Friday…