APRA wants to publish broker data
14 June 2011
The Australian Prudential Regulation Authority is proposing to publish data on general insurance handled by brokers…
Regulatory & Government
Shorten to push brotherhood reforms
14 June 2011
Assistant Treasurer Bill Shorten has again warned the insurance industry he will continue to push for more reform…
Coalition won’t repeal FOFA – just the bad bits
14 June 2011
A future Liberal-National Coalition federal government would not repeal the Future of Financial Advice bill, Shadow Assistant Treasurer Mathias Cormann told a Melbourne event last week…
Insurance corruption slur
14 June 2011
The Victorian Government has downplayed the impact of a report which a builders’ group says shows builders’ warranty insurers are reaping massive profits…
Queensland raises workers’ compensation rates 9%
14 June 2011
WorkCover Queensland has increased the industry rate for workers’ compensation premiums to an average of 1.42% for 2011/12, up 9%…
NZ Government sets out its regulation charges
14 June 2011
The New Zealand Government has proposed a third-party funding option for the new Financial Markets Authority, External Reporting Board and the Companies Office…
IASB agrees on reinsurance accounting rules
14 June 2011
Insurers will have to revise the way they treat reinsurance in their insurance contracts, according to new proposed global accounting standards…
Victoria works on bushfire recommendations
06 June 2011
The Victorian Government has allocated more than $900 million to implement all 67 recommendations from the 2009 Victorian Bushfires Royal Commission…
ASIC aims for greater transparency
06 June 2011
The Australian Securities and Investments Commission must open up a more transparent system with better communication channels and education, new Chairman Greg Medcraft says…
NZ insurers give ACC privatisation plan a cautious welcome
06 June 2011
New Zealand insurers have “cautiously” welcomed the Government’s proposal to open up the Accident Compensation Corporation’s workers’ compensation account to private competition…
ASIC looks at PDS requirement on phone sales
06 June 2011
The Australian Securities and Investments Commission is looking at how a product disclosure statement is provided to consumers seeking general insurance quotes over the phone…
Guiding employees back to work
06 June 2011
WorkCover WA is demystifying the workers’ compensation scheme for employers, highlighting the role of insurance in getting employees back on the job…
New disclosure rules for credit ratings agencies
06 June 2011
The Australian Securities and Investments Commission has detailed what it expects to be in credit ratings agencies’ compliance reports…
ADIs get new ‘behavioural boundaries’
06 June 2011
The Australian Prudential Regulation Authority is setting new behavioural boundaries for authorised deposit-taking institutions and the general and life insurance industries following a consultation…
WorkSafe agents slammed for poor reporting
30 May 2011
A scathing examination into Victoria’s WorkSafe claims processing has revealed some embarrassing failures by insurers and other claims agents and raised more questions over the sacking…
Coalition wants answers on insurance commissions
30 May 2011
The Federal Coalition will be raising the issue of general insurance brokers receiving payments for products sold through superannuation at a Senate Estimates hearing this week…
More to do on building standards after Yasi
30 May 2011
Standards Australia is reviewing building standards following research into how buildings in North Queensland stood up to Cyclone Yasi in February…
Call for higher SA council liability limits
30 May 2011
The Local Government Association of South Australia has called for the compulsory insurance levels of councils to be raised dramatically…
Insurers warned to watch capital-raisings
30 May 2011
The Australian Prudential Regulation Authority has told general insurers planning to raise Tier One capital to contact the regulator as part of the switch to Basel III requirements…
Government still pondering compulsory flood cover
23 May 2011
Attorney-General Robert McClelland says the Federal Government has not ruled out mandating that homes and businesses in high-risk flood areas must buy cover for flood, and may subsidise…