Reinsurance pool members reappointed
02 May 2011
Assistant Treasurer Bill Shorten has reappointed two board members of the Australian Reinsurance Pool Corporation for a further three years…
Regulatory & Government
New NZ authority gets a budget
02 May 2011
The New Zealand Government has given the new Financial Markets Authority a $NZ24 million ($17.6 million) budget…
APRA issues guidelines on capital standards
18 April 2011
The Australian Prudential Regulation Authority has issued a set of answers to general insurers’ concerns on capital adequacy standards…
WA WorkCover rates rise 3.3%
18 April 2011
WorkCover rates in WA will rise by 3.3% for 2011/12, with the average recommended premium rate being 1.547% of total wages…
Insurers facing ‘unprecedented regulation’
18 April 2011
A meeting of insurance executives and regulators in Geneva has heard that governments are seeking to impose an unprecedented amount of regulation on insurers, and there is anxiety that the…
NZ’s new regulator to start on May 1
18 April 2011
The NZ Financial Markets Authority will now start on May 1 after the bill setting it up passed its third reading in Parliament…
Surprise as GIO dropped from Victorian comp scheme
11 April 2011
Suncorp subsidiary GIO has been dropped from Victoria’s workers’ compensation scheme – and it’s not happy with the decision…
ASIC proposes new training scheme for financial advisers
11 April 2011
The Australian Securities and Investments Commission is proposing that all new and existing financial advisers pass a “financial services competency certification” examination…
New standards for insurance contracts looming
11 April 2011
Australian insurers will have to revalue their insurance contracts when the International Financial Reporting Standards accounting guidelines on insurance contracts come into force…
Coalition continues support for commissions
11 April 2011
The Federal Coalition will continue its support for retaining life insurance commissions, citing UK moves to exclude them from its retail distribution review…
Deadline for advisers providing tax advice
11 April 2011
Financial advisers will be able to provide tax advice until June 30 next year under an extension announced by Assistant Treasurer Bill Shorten…
APRA approves Tower deal
11 April 2011
Dai-ichi Life has received approval from the Australian Prudential Regulation Authority for its takeover of Tower Australia…
NZ authority to start in May
11 April 2011
The New Zealand Financial Markets Authority will be operational in May, a spokesman for the Commerce Minister Simon Power told insuranceNEWS.com.au…
O’Farrell Government ‘aware of fire services levy issue’
04 April 2011
NSW Premier Barry O’Farrell’s has announced his new cabinet, with no change from the opposition line-up for those who are now responsible for major insurance-related matters…
Brokers meet NZ register deadline
04 April 2011
The general insurance industry seems to have been more prepared for New Zealand’s new Financial Service Providers Register than their financial services counterparts…
Life insurers will need more capital for solvency regulations
04 April 2011
Life insurers are expected to need serious increases in capital levels to meet the proposed requirements of the Australian Prudential Regulation Authority…
Victorian Government in insurance talks with Swiss Re
04 April 2011
The Victorian Government has held talks with the head of Swiss Re’s global partnerships division regarding the state’s insurance arrangements…
Government outlines disaster cover review plan
28 March 2011
The Federal Government has given some indication of the direction being taken by its disaster insurance review, with Attorney-General Robert McClelland saying the US National Flood…
ACT Greens put brakes on CTP reforms
28 March 2011
The ACT Government’s compulsory third party reforms face a last-minute roadblock after a Greens Party MP called last week for further review…
NZ brokers and advisers sign up – but how many?
28 March 2011
Uncertainty reigns over the number of brokers and financial advisers that have registered for NZ’s Financial Service Provider Register…