Appeal Court decision gives insurers ‘comfort’ on policy wording
20 October 2008
The NSW Court of Appeal has sided with insurers for upholding policy exclusions in a case involving defective construction work at Sydney Airport...
Regulatory & Government
NZ money laundering law is small beer for insurance
20 October 2008
New Zealand’s proposed anti-money laundering legislation won’t have a material effect on the local insurance sector, according to Insurance Council of NZ CEO Chris Ryan...
Wilkie cleared of fraud charges
20 October 2008
Former FAI director Daniel Wilkie has been found not guilty of three charges of fraud and dishonesty...
Policyholder scheme back on the front burner
13 October 2008
PM Kevin Rudd has confirmed new protection measures for general insurance customers as part of his latest initiative to restore confidence in Australia's financial institutions...
Australian regulatory system ‘a world leader’
13 October 2008
The regulation of the Australian financial services sector is among the very best in the world, according to an international report released last week...
Westpoint promoter permanently banned
13 October 2008
The Australian Securities and Investments Commission has permanently banned former Westpoint promoter Neil Burnard from providing financial services...
Australia better placed than most in financial crisis
13 October 2008
While Australia will not be immune from the global economy crisis, it is better placed than most to withstand it, says Finance Minister Lindsay Tanner...
NZ financial industry urges further regulatory reform
06 October 2008
A survey of the NZ financial services sector reveals regulatory hurdles continue to obstruct the free flow of financial services and products between NZ and Australia...
ASIC appeals ‘lenient’ Westpoint sentence
06 October 2008
The Commonwealth Director of Public Prosecutions has appealed against the sentence handed down to former Westpoint financial adviser Neil Burnard on August 22...
ASIC: group insurance buyers in the clear
06 October 2008
ASIC has confirmed that group insurance purchasing bodies will not require an Australian financial services licence...
APRA to stay mum on AIG
29 September 2008
Brokers and insurance clients waiting to hear an official word from the Australian Prudential Regulation Authority on the prudential health of AIG Australia are advised to keep breathing...
Pearce returns to the fold as Liberals’ go-to insurance man
29 September 2008
Chris Pearce is back in touch with the insurance industry having accepted a key shadow ministry position with the new team of Liberal leader Malcolm Turnbull...
Claims costs impact insurance industry profits
29 September 2008
Rising claims expenses have impacted on profitability in the local general insurance industry, with net profit plummeting by more than 40% for the year ending June 30…
ASIC and James Hardie directors face off
29 September 2008
It will be a packed house at the New South Wales Supreme Court today, as a groundbreaking case against 10 former James Hardie executives and directors gets under way...
ASIC bans another adviser over Westpoint
29 September 2008
ASIC has banned Gold Coast financial adviser Andrew Gordon Wright for five years for not complying with financial services laws, and says it expects he will not comply…
Victoria ‘the safest place to work’
29 September 2008
WorkSafe Victoria, the agency responsible for managing Victoria’s workplace safety system, says the southern state is the safest place to work in Australia...
Lawyers alarmed at new workers’ comp laws
22 September 2008
The Victorian Government has introduced legislation to overturn a key Supreme Court decision on workers’ compensation insurance...
IOSCO urges worldwide rules for ratings agencies
22 September 2008
The peak international body for securities commissions has called for consistent international standards in the regulation of credit ratings agencies...
Australia seals deal with EU on emergency management
22 September 2008
A new agreement between Australia and the European Union will see the two countries work more closely on emergency management challenges following completion of…
Funders win anti-money laundering battle
15 September 2008
Premium funders appear to have won their battle to keep the most onerous aspects of the Anti-Money Laundering and Counter-Terrorism Financing Act away from general insurance...