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...
Regulatory & Government
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...
Government pushes back ETA for its ETS
11 May 2009
Insurers will generally welcome the Federal Government’s decision to significantly change its proposed carbon emissions trading scheme in a bid to get the legislation through the Senate...
Legislation targets life insurers
11 May 2009
Tricky federal legislation targeting life insurers has entered a new phase, with the Australian Prudential Regulation Authority calling for submissions on proposed changes...
Medical indemnity gets clean bill of health
04 May 2009
The Australian Competition and Consumer Commission says medical indemnity insurance prices are now where they should be, seven years after industry turmoil saw rates rocket...