Disaster insurance discussed as regulators meet
25 July 2011
Australia’s top financial regulators discussed the insurance industry’s response to natural disasters during a meeting in Sydney last week…
Regulatory & Government
No more time for opinions
25 July 2011
The Natural Disaster Insurance Review panel is now officially closed to all submissions following a last minute call for public comment…
Trans-Tasman broking is closer, says regulator
18 July 2011
Regulatory recognition that will allow Australian and New Zealand brokers to practise on both sides of the Tasman may be as little as 12 months away, according to Financial Markets Authority…
Insurance disaster inquiry extends submissions deadline
18 July 2011
The parliamentary committee inquiring into the insurance industry’s response to natural disasters has extended the date for submissions and online survey responses to August 12…
ACC surplus supports price drop
18 July 2011
New Zealand employers could soon reap the benefits of the country’s reduction in accident compensation claims, improved rehabilitation services and increased investment returns, with the…
It’s now or never, says disaster insurance review chief
11 July 2011
The work of the three-member Natural Disaster Insurance Review panel is a “once in a generation” opportunity to address and solve the problems associated with flood insurance…
Global supervision creeps closer
11 July 2011
The International Association of Insurance Supervisors is proposing more effective global supervision of insurers…
Bushfire risk tools vital
11 July 2011
Attorney-General Robert McClelland has highlighted the need for all Australians living in areas of high bushfire risk to have access to mitigation tools…
Insurers line up for WA workcover renewals process
11 July 2011
WorkCover WA has opened the application process for insurers to renew their approvals to issue workers’ compensation policies…
NSW gets new Centre for International Finance and Regulation
11 July 2011
The University of NSW will host a new $41 million Centre for International Finance and Regulation to link academics, regulators and government with the financial services industry…
Shorten attacks flood claim dispute figures
04 July 2011
Assistant Treasurer Bill Shorten has hit out at the “unacceptably and substantially higher” rate of insurance disputes for claims over the Queensland floods when compared to other natural disasters…
Victoria floats options for FSL levy
04 July 2011
The Victorian Government is still undecided on how to implement a property-based fire services levy…
Exemption for Australian companies operating in NZ
04 July 2011
Australian-regulated financial services companies will still be allowed to provide advice to New Zealand clients without having to be registered with the new Financial Markets Authority…
Shorten unmoved on FOFA reforms
04 July 2011
Assistant Treasurer Bill Shorten shows little sign of backing down on the key sticking points in Treasury’s proposed Future of Financial Advice financial services reforms…
Queensland causes further delays to insurance probe
04 July 2011
The Senate report into state government insurance arrangements and the flood levy has again been delayed, due to a further hold-up by the Queensland Government…
NZ industry seeks court clarification over fire levy
27 June 2011
New Zealand insurance brokers’ peak body is going to court to test allegations that some insurance policies are “cheating” in the way they apply the fire services levy…
Agreement reached on insurance contracts margins
27 June 2011
The International Accounting Standard Board and the Financial Accounting Standards Board have agreed the residual margin in insurance contracts should not be locked in at inception…
IBANZ opposes regulatory charges
27 June 2011
The Insurance Brokers Association of New Zealand has attacked the NZ Government’s plan to charge the insurance industry to cover the cost of regulating it…
WorkCover NSW raises average rate to 1.68%
27 June 2011
WorkCover NSW has announced a target collection rate of 1.68% of wages in 2011/12…
Compo scheme reports a surplus
27 June 2011
New Zealand’s Accident Compensation Corporation expects a surplus of $NZ2.5 billion ($1.9 billion) for the 2010/11 financial year, which will enable it to reduce its deficit and reduce levies…