ACCC tackles spate of product recalls
21 September 2009
A number of recent high-profile product recalls has propelled the Australian Competition and Consumer Commission to review the country’s product recall system…
Regulatory & Government
Tasmanian broker guilty of dishonest conduct
21 September 2009
A former Launceston insurance broker will be sentenced on Friday over his dishonest conduct around financial products and fees and charges…
ASIC settles Westpoint class action
21 September 2009
The Australian Securities and Investments Commission has settled a Federal Court class action against a Queensland financial firm over advice given to investors in Westpoint…
APRA moves to defer insurance bonuses
14 September 2009
The Australian Prudential Regulation Authority has stepped up its campaign to defer performance-based pay in a second consultation package on remuneration…
Brokers face new DOFI rules
14 September 2009
The Federal Treasury wants to extend reporting rules monitoring exemption arrangements for business placed with direct offshore foreign insurers…
Former HIH director’s referees confidential
14 September 2009
The Administrative Appeals Tribunal has agreed to suppress the identities of the lawyers and members of the insurance industry who gave character evidence about former HIH Insurance…
Terrorism pool’s future examined
14 September 2009
The future of the Australian Reinsurance Pool Corporation should be known by early next month…
Taser minister loses power
14 September 2009
The NSW minister who threatened to taser an Insurance Council of Australia manager has been relegated to near-political oblivion…
New bushfire rules to allow land clearing
07 September 2009
The Victorian Government will allow residents in bushfire-prone areas to fell trees surrounding their homes to help avoid a repeat of the Black Saturday disaster…
Leaky building liability shortfall hits NZ councils
07 September 2009
NZ local councils are feeling the bite of the country’s leaky building crisis, with ratepayers being asked to pay for a shortfall in funds to cover liability claims from mid-2002 to 2004…
NZ Earthquake Commission boss steps down
07 September 2009
New Zealand Earthquake Commission CEO David Middleton has announced his departure after 17 years in the role…
HIH disqualification set aside
31 August 2009
The Administrative Appeals Tribunal has overturned the disqualification of a former HIH director…
APRA releases insurance reporting standards
31 August 2009
The Australian Prudential Regulation Authority has released its final reporting standards to apply to general insurance groups…
Treasury warns planner fees could hurt investors
31 August 2009
The Federal Treasury has weighed into the fee versus commissions debate for financial planners…
APRA figures reveal fall in liability rates
24 August 2009
The prudential regulator's latest annual report on policies and claims for public and product liability and professional indemnity insurance has revealed a continued fall in premiums…
Tax review targets stamp duty
24 August 2009
Stamp duty - which is used by all states and territories as an added financial bonus from insurance premiums - is among the main targets of the Federal Government's…
Insurance consumers ‘have enough protection’
24 August 2009
Brokers want insurance contracts left out of new federal consumer protection legislation, saying the Insurance Contracts Act obviates the need for additional generic consumer laws…
Former Zurich execs cop APRA suspension
24 August 2009
The Australian Prudential Regulation Authority has accepted enforceable undertakings from two former Zurich Australia executives who acknowledged their roles in transactions…
Court rules on Hardie penalties
24 August 2009
The Australian Securities and Investments Commission says its successful prosecution of James Hardie directors and executives provides "important guidance" on executive…
KPMG auditors banned over Westpoint
24 August 2009
Three KPMG partners have accepted temporary auditing bans over their role in the Westpoint Group collapse…