General insurers record first-quarter loss
07 June 2010
High claims costs combined with typically lower net written premium saw the general insurance industry record a $300 million underwriting loss in the first quarter of this year…
Regulatory & Government
Bowen links commission ban with integrity
07 June 2010
Banning commission payments will boost the integrity and attractiveness of Australia’s financial services industry to offshore investors, according to Financial Services Minister Chris Bowen…
APRA publications to improve life insurance industry disclosure
07 June 2010
The Australian Prudential Regulation Authority has disclosed the level of detail it will include in its proposed new life insurance publications…
APRA rules national claims database non-confidential
31 May 2010
The prudential regulator won’t classify information on the National Claims and Policies Database as confidential following consultation with the general insurance industry…
APRA hosts capital review
31 May 2010
The Australian Prudential Regulation Authority’s reform of capital standards is gathering steam, with the regulator to meet industry figures next month…
Third-party premiums rise in SA
31 May 2010
Compulsory third-party car insurance premiums are on the move in SA, where drivers of the average family car will pay an extra $32 from next month…
Tenancy Act change may hit premiums
31 May 2010
A proposed amendment to the NSW Residential Tenancies Act could see tenants granted the right to make “minor or cosmetic” alterations to residential premises…
ACT tightens worker definition loophole
24 May 2010
An updated definition of a “worker” will end employers shirking their workers’ compensation responsibilities, according to ACT Industrial Relations Minister Katy Gallagher…
QBE to contribute to fifth Westpoint settlement
24 May 2010
The corporate regulator has settled a $2.5 million Federal Court class action against a Melbourne financial firm over advice given to investors in Westpoint…
NZ ombudsman wins official nod
24 May 2010
The New Zealand Insurance & Savings Ombudsman has been approved as an official dispute resolution service provider under new legislation…
Federal Government crackdown on low-ball share offers
24 May 2010
IAG has welcomed a move by the Federal Government to put an end to unsolicited low-ball share offers…
Moody’s methodology updated
24 May 2010
Moody’s Investors Service has updated its rating methodologies for insurers to include refinements based on lessons learned from the recent global financial crisis…
Australian tax board to review Islamic finance
24 May 2010
Assistant Treasurer Nick Sherry has released the terms of reference for a tax review intended to support strong growth in demand for Islamic insurance, banking and finance products…
APRA makes progress on capital standard reform
17 May 2010
The prudential regulator has achieved the first major outcome of a capital standard review process by releasing a discussion paper in support of its aim to improve capital standard consistency…
WorkCover SA appoints new CEO
17 May 2010
The man credited with turning around the fortunes of WorkCover NSW has been appointed to do the same thing in SA…
Vehicle write-off criteria expanded
17 May 2010
The national classification system for identifying written-off vehicles is to be expanded on the recommendations of a new report…
Federal Government relief for funded class actions
10 May 2010
The Federal Government says it will introduce regulations to avoid funded class actions being wrapped in corporate red tape…
APRA issues paper on tightened capital rules
10 May 2010
The prudential regulator has released a discussion paper proposing amendments to the prudential reporting standards as part of an international response to the global financial crisis…
OECD pushes for greater insurer scrutiny
10 May 2010
Insurers face heightened scrutiny following a declaration from the Organisation for Economic Co-operation and Development that the industry was partially responsible for the downfall…
New senior appointments at ASIC
10 May 2010
The Australian Securities and Investments Commission has made two key appointments…