Funder earns $1 million in Westpoint action
16 August 2010
Litigation funder IMF’s legal action against Quantum Securities (now Minox Securities) and QBE over the collapse of Westpoint has seen the company earn $2 million in revenues…
Regulatory & Government
Former Westpoint manager to stand trial
16 August 2010
Former Westpoint Chief Financial Controller Graeme Rundle is to stand trial in the Sydney District Court on criminal charges brought by the Australian Securities and Investments Commission…
Global standards set for overhaul
09 August 2010
Significant changes to international insurance accounting standards are expected to have less impact in Australia due to the “best practice” system that already operates here…
ACCC wants input on NAB/Axa plan
09 August 2010
The Australian Competition and Consumer Commission wants the financial services industry to comment on proposed undertakings given by National Australia Bank regarding its plans…
Cost of workers’ comp a top concern
09 August 2010
The cost of workers’ compensation is among the top concerns of Australian business, according to a survey by the Australian Chamber of Commerce and Industry…
Victorian emergency chief stays
09 August 2010
Victorian Emergency Services Commissioner Bruce Esplin has decided to stay in the role despite being ruled out for the new Victorian Fire Commissioner position…
Bushfires commission wants fire services levy scrapped
02 August 2010
The 2009 Victorian Bushfires Royal Commission has called for the fire services levy to be replaced by a property-based levy…
APRA finalises reporting standards
02 August 2010
The Australian Prudential Regulation Authority has released the final reporting standards, forms and instructions for its simplified reporting framework for general insurers…
New ASIC commissioner for Queensland
02 August 2010
The Australian Securities and Investments Commission has appointed Victorian lawyer Pamela Hanrahan as Regional Commissioner for Queensland…
Search is on for new terrorism reinsurance pool boss
26 July 2010
Recruiters are seeking a new boss for the Australian Reinsurance Pool Corporation following the retirement of inaugural CEO Neil Weeks after seven years in the role…
NZ insurers to benefit from GST amendments
26 July 2010
The New Zealand insurance industry is set to benefit from transitional relief to be granted to firms ahead of an increase in GST from October…
Retail credit ratings agency launched
26 July 2010
Insurance brokers are likely to be big users of new domestic credit ratings agency Australia Ratings, which has become the first agency licensed to rate local retail and institutional…
WorkCover WA announces new board member
26 July 2010
WorkCover WA has appointed Ian Williams as its board member with insurance expertise, replacing QBE’s Regional Manager WA/NT Steve Burns who has completed his three-year term…
APRA releases technical papers
19 July 2010
The Australian Prudential Regulation Authority has released two technical papers as part of its review of the capital standards for general and life insurers…
Move to align NZ ACC levies to risk profile
19 July 2010
The NZ Government has announced plans to promote improved workplace safety by moving to align accident compensation levies with the actual risk…
ISI chief quits, vows to defend charges
19 July 2010
The former chief of New Zealand’s Investment Savings and Insurance Association Vance Arkinstall will “strenuously defend” civil and criminal charges that he allegedly misled investors…
Association chief accused of misleading investors
12 July 2010
New Zealand’s Investment Savings and Insurance Association CEO Vance Arkinstall is among six directors of North South Finance charged with misleading investors over the financial state…
UAC calls for abolition of fire services levy
12 July 2010
The Underwriting Agencies Council has called on the Victorian Government to dump the fire services levy in favour of a more equitable scheme of emergency services funding…
Melbourne group makes financial centre bid
12 July 2010
Melbourne-based academic think tank the Australian Centre for Financial Studies has announced its bid to host the Federal Government’s proposed Centre for International Finance…
APRA beefs up capital standards
05 July 2010
Both life and general insurers could face increased capital requirements under changes proposed by the Australian Prudential Regulation Authority…