APRA to minimise role this year
09 February 2009
The insurance industry is in good shape to withstand the financial crisis, so the prudential regulator says it’s loosening the reins...
Regulatory & Government
Coalition joins attack on state insurance taxes
09 February 2009
The Federal Opposition believes keeping the insurance industry under state and federal administration will lead to increased compliance costs and says state taxes must go...
ASIC bans two over dodgy insurance dealings
09 February 2009
The Australian Securities and Investments Commission has imposed bans on two Sydney men for unauthorised insurance broking...
Corporations Act amended to include banned Kiwis
09 February 2009
Company directors banned from managing companies in NZ will also be disqualified in Australia under an amendment to the Corporations Act...
Dollar-for-dollar insurance taxes almost a reality in Victoria
02 February 2009
Rural commercial insurance-buyers in Victoria are being forced to pay nearly $1 in tax for every $1 in premium after another hike in the state’s fire services levy...
APRA’s thinking on niche insurers questioned
02 February 2009
Senior brokers have questioned the rationale behind the licensing of niche insurers in the Australian market, with the Australian Prudential Regulation Authority (APRA) saying...
NSW green slips rise
02 February 2009
NSW motorists face a hike of up to $70 a year for green slips so the NSW Government can cover an increase in insurance premiums...
Marsh identifies big stamp duty refund opportunity
15 December 2008
Marsh Australia says insurance customers may be eligible for a big stamp duty refund after the NSW Supreme Court held the impost is not payable by foreign insurers...
Insurance tax critics raise reviewers’ attention
15 December 2008
Opponents of insurance taxes have made their collective voice heard during the initial stages of the Federal Government’s wide-reaching review of taxation...
ASIC appoints three new commissioners
15 December 2008
The Australian Securities and Investments Commission has employed three new commissioners as the regulator doubles its top tier to cope with an extended workload...
15 months jail for insurance scam artist
15 December 2008
The Southport District Court has sentenced a Gold Coast man to a minimum 15-month jail term for fraudulent dealings including the use of false birth certificates to buy insurance…
APRA points finger at executive pay
15 December 2008
The Australian Prudential Regulation Authority will use a principles-based approach to encourage management behaviour that avoids risk-taking in financial institutions...
Insurance taxes in rural Victoria reach new high
08 December 2008
Commercial insurance buyers in rural Victoria will pay nearly $1 in tax for every $1 of insurance premium following another hike in the fire services levy...
APRA wants industry views on national database
08 December 2008
The Australian Prudential Regulation Authority has invited discussion over the future of the central database used to record information on professional indemnity and public…
General insurers ‘tax collectors’
08 December 2008
General insurers have become de facto tax collectors for both state and federal governments, according to Zurich Australia CEO David Smith...
First Westpoint class action settles
01 December 2008
The first of the 16 class actions filed by the Australian Securities and Investments Commission against advisers involved in the collapse of Westpoint has been resolved...
APRA’s recipe for avoiding disaster
01 December 2008
APRA’s role in maintaining a strict regulatory environment is only one factor that has helped Australia’s financial institutions avoid the worst impacts of the global economic crisis...
Financial crisis in Australia ‘relatively contained’
01 December 2008
Australia’s financial regulators are likely to keep the country in good stead as growth in gross domestic product weakens...
Industry backs ratings agency reform
24 November 2008
The financial services industry has backed the Federal Government’s decision to tighten the regulation of credit ratings agencies and research houses...
Charges against former HIH Chairman dropped
24 November 2008
The Commonwealth Director of Public Prosecutions has dropped a charge against former HIH Insurance Chairman Geoffrey Cohen, ending proceedings led by ASIC against him...