Thumbs-up for complaints publishing proposal
13 July 2009
Consumer organisation Choice says a British proposal to make finance sector firms publish their complaints data has merit and could improve transparency if adopted in Australia…
Regulatory & Government
HIH liquidator to proceed on settlement
13 July 2009
HIH liquidator Tony McGrath has received clearance to settle a $529 million civil damages case over HIH’s 1999 acquisition of FAI Insurance…
Terrorism pool appoints new member
13 July 2009
Financial Services Minister Chris Bowen has announced the reappointment of the Chairman and a new appointment to the Australian Reinsurance Pool Corporation board…
Queenslanders hit by another CTP rise
06 July 2009
Higher fuel tax, registration fees and compulsory third party insurance hikes that came into effect last week are about to undo car ownership and running cost savings made by Queenslanders...
Trowbridge reappointed
06 July 2009
Australian Prudential Regulation Authority Executive Member John Trowbridge has been reappointed for another year...
Insurance levy now $23.6 million
06 July 2009
General insurers will contribute $23.4 million to the upkeep of the organisations that regulate them in 2009/10...
Liberals’ insurance man Pearce to step down
29 June 2009
Liberal Shadow Minister for Financial Services, Superannuation and Corporate Law Chris Pearce has announced he will quit Federal Parliament at the next election...
NSW Opposition attacks SES levy
29 June 2009
NSW Shadow Small Business and Regulatory Reform Minister Don Page has attacked the state’s newest insurance tax as “diabolical” – but he won’t confirm whether his party would repeal...
ASIC bans insurance broker
29 June 2009
The Australian Securities and Investments Commission has permanently banned a Victorian broker from providing financial services...
Wife killed, house torched in insurance scam
29 June 2009
A Victorian man who murdered his wife and torched his house as part of a $180,000 insurance scam will spend at least 17 years behind bars...
Claims drain industry profits
22 June 2009
New figures from the Australian Prudential Regulation Authority show the insurance industry’s net profit plunged 39% in the 12 months to March 31, with high claims...
APRA tests water on liability data
22 June 2009
The Australian Prudential Regulation Authority wants to know how much liability insurance data it should release from the National Claims and Policies Database...
Victorian WorkCover to include super
22 June 2009
Superannuation contributions for eligible injured workers are among the elements of Victoria’s new $90 million workers’ compensation reform package...
APRA hikes general insurance levy by 16%
15 June 2009
The Australian Prudential Regulation Authority is set to increase its levy on general insurers at the same rate as banks to cover additional costs imposed by the global financial crisis...
Shift stamp duty into other taxes, says WA
15 June 2009
The WA Government says higher rates for GST or income tax could offset the removal of insurance duty and other inefficient state taxes...
Council meets in bid for uniformity
15 June 2009
The Safe Work Australia Council held its inaugural meeting last week, pledging to steer national policy development on occupational health and safety and workers’ compensation...
Insurance gets a leg up into Federal Cabinet
09 June 2009
The Federal Government reshuffle at the weekend has seen Assistant Treasurer Chris Bowen promoted to the Federal Cabinet...
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...
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...