Profit pressure for life insurers
13 December 2010
Life insurers’ net profits have fallen during the third quarter this year compared to the corresponding period last year, according to the Australian Prudential Regulation Authority’s quarterly…
Regulatory & Government
Comments wanted on workplace safety regulations
13 December 2010
Safe Work Australia is seeking comment on its occupational health and safety regulations and model code of practice…
Directors want liability laws reformed
13 December 2010
Company directors say the states are affecting corporate decision-making by not reforming the 708 laws and statutes which impose personal liability on them…
Premiums continue to rise
06 December 2010
General insurance gross written premium for the September quarter was $8.47 billion, according to the Australian Prudential Regulation Authority – well up on the corresponding period last year…
No surprises in new Victoria’s new ministry
06 December 2010
Most members of Victorian Premier Ted Baillieu’s shadow ministry have continued in their roles as ministers in the new Victorian Parliament…
IAIS looks for new deputy
06 December 2010
The International Association of Insurance Supervisors is seeking a new deputy secretary general…
Minister backs insurance gaps inquiry
29 November 2010
An inquiry into insurance “gaps” on threatened coastal properties has been endorsed by Federal Climate Change Minister Greg Combet…
NIBA executive joins high-level group
29 November 2010
National Insurance Brokers Association’s Professional Development Executive Linda Evans is the sole insurance representative for a new financial advice advisory panel…
Insurance tax overhaul needed
29 November 2010
Federal Treasury Secretary Ken Henry has kept up his attack on state taxes on insurance, labelling the taxes as some of the most inefficient in Australia…
Brigade donations get tax break
29 November 2010
The Federal Government plans to extend access to tax deductible donations to all volunteer fire brigades…
Draft tax changes to hit captive insurers
22 November 2010
Treasury’s proposed tax changes to controlled foreign company rules could push captive insurance costs up by as much as 48%, according to some submissions from leading brokers…
APRA issues warning on cloud computing
22 November 2010
The Australian Prudential Regulation Authority is warning insurers to maintain their own risk assessment and management procedures when looking at outsourcing IT services offshore…
Life just got tougher for share-raiders
22 November 2010
A bill to help protect shareholders from unscrupulous offers to buy their shares cheaply has passed through the Federal Parliament…
APRA sharpens risk appetite focus
15 November 2010
Insurers should expect the Australian Prudential Regulation Authority (APRA) to increase its focus on risk appetite, according to new APRA Executive Member Ian Laughlin…
NZ looks at consolidating financial literacy
15 November 2010
New Zealand is considering putting its financial literacy program under the control of a single authority…
Kids to learn natural disaster safety
15 November 2010
An education program for children focusing on natural hazards has been launched by the State Emergency Service agencies…
NZ insurers weather tax changes
15 November 2010
Major changes to NZ’s GST regime haven’t yet impacted premium renewals for both general and life insurance…
ASIC keeps an eye on credit insurance
08 November 2010
The Australian Securities and Investments Commission is reviewing consumer credit insurance direct marketing operations following complaints about Citigroup products sold through telephone sales…
APRA sees room for insurers to improve
08 November 2010
The Australian Prudential Regulation Authority is looking closely at how general and life insurers are stress-testing their operations and the impact it will have on their capital reserves…
HIH’s Brad Cooper gets out of jail
08 November 2010
The last of the jailed HIH trio of executives, Brad Cooper, has been released from jail after serving five years for dishonestly obtaining $6.7 million from the insurer just before its collapse…