Insurance tax could go, says Queensland
09 June 2009
While some states continue to ignore the increasing clamour for insurance tax reform, Queensland is reportedly considering the abolition of stamp duty on insurance transactions...
Regulatory & Government
Sherry sweet on ratings user reform
09 June 2009
New Assistant Treasurer Nick Sherry says Australian financial institutions have not been as “over-reliant” on the measurements of the ratings agencies as some of their foreign counterparts...
Victorian broker gets suspended sentence
01 June 2009
Victorian insurance broker Anthony John Ryan has received a suspended three-and-a-half year jail sentence and $10,000 fine for dishonestly using his position for personal gain...
HIH’s Cohen cops six-year ban
01 June 2009
Former HIH Insurance chairman Geoffrey Cohen has been barred from responsible positions in the insurance industry until 2015 under an enforceable undertaking agreed with regulators...
APRA plans pay changes
01 June 2009
The Australian Prudential Regulation Authority has released a consultation package on remuneration for general and life insurers...
Demands of regulation add to industry burden: QBE
25 May 2009
The onerous demands of regulators present a significant challenge to insurers in coming years, according to QBE Australia CEO Terry Ibbotson...
Four years’ jail for dodgy insurance dealer
25 May 2009
Former director Timothy John McKenzie has been sentenced in the Victorian County Court of Victoria to four years’ jail after pleading guilty to charges brought by the Australian Securities and Investments Commission...
Concern over ASIC’s EDR scheme changes
25 May 2009
The Australian Securities and Investments Commission’s overhaul of external dispute resolution (EDR) schemes has angered some industry groups...
Australia and NZ unite to fight disasters
25 May 2009
Australia and NZ have signed a co-operation arrangement between their national emergency management organisations...
APRA outlines scope of insurance regulation
25 May 2009
Regulators are likely to pay close heed to “non-core” operations of insurance companies in the wake of the global financial crisis, a leading Australian regulator has told a US audience...
Melbourne man bailed over bushfire fraud
25 May 2009
A Melbourne man has been accused of trying to make an insurance claim after setting a unit and car on fire in Alexandra two weeks after Black Saturday...
ASIC dumps AR from financial services sector
25 May 2009
Regulators have tossed a WA authorised representative out of the financial services sector after he misled clients into investing in his own company...
$79 million in kitty for disaster plan
18 May 2009
The Federal Government has committed $79.3 million to strengthen efforts to prepare for and deal with major natural disasters...
SA firm and director face Westpoint charges
18 May 2009
Power Financial Planning and its former director Stephen McArdle faced the Adelaide Magistrates Court on Friday on charges related to failed investment firm Westpoint...
Unions want changes to proposed national OHS laws
18 May 2009
The Australian Council of Trade Unions has called for changes to proposed national occupational health and safety laws to better protect Australian workers...
ASIC places permanent ban on adviser
18 May 2009
ASIC has permanently banned Townsville adviser Neil Francis Dodd from providing financial services citing his misuse of client funds...
Regulator receives funding boost
18 May 2009
The Federal Government is increasing its funding of ASIC...
Bowen puts home warranty in spotlight again
11 May 2009
Consumer Affairs Minister Chris Bowen has called for another review into home builders’ warranty insurance just months after a Senate inquiry recommended only modest changes to the product...
NIBA opposes rise in dispute compensation cap
11 May 2009
NIBA has told regulators a $200,000 hike in dispute compensation limits will jeopardise brokers’ access to professional indemnity cover...
APRA wants to hear about IT security risks
11 May 2009
The Australian Prudential Regulation Authority is seeking input on an information technology security risk guide – even though it isn’t intended to replace current industry standards...