Liquidators face new PI requirements
30 June 2008
Liquidators will need to obtain professional indemnity and fidelity insurance under legislation coming into effect next Tuesday...
Regulatory & Government
Five more years for APRA chair and deputy
30 June 2008
There’s a familiar look to the head table at APRA following the reappointment of Chairman John Laker and Deputy Chairman Ross Jones...
Trade Practices Act sees biggest reform in over 20 years
30 June 2008
The Federal Government has ushered in key reforms to the Trade Practices Act to protect smaller businesses from the predatory pricing strategy of larger rivals...
HIH claims scheme set to wind up
23 June 2008
The Federal Government’s HIH Claims Support Scheme should be wound up by the end of the year after accepting almost 11,000 claims since the insurer’s collapse in 2001...
Unions slam fire services levy
23 June 2008
An insurance industry expert has hosed down fire service union claims that a proposal to axe the NSW fire services levy will unfairly burden ratepayers...
ASIC execs depart
23 June 2008
ASIC has confirmed to insuranceNEWS.com.au the resignation of key senior executives as part of its wide-ranging restructuring program...
ASIC chalks up another Westpoint ban
23 June 2008
ASIC has banned WA financial planner David Liddicoat for three years for misleading clients on investments in collapsed investment company Westpoint...
Improved protection for long-tail liability claimants
16 June 2008
Legal protection standards for long-tail liability claimants are set to improve following the release of a report addressing concerns raised in the James Hardie inquiry...
Home warranty premium-to-claim ratio just 7%
16 June 2008
The Senate inquiry into home warranty insurance has heard the consumer protection policy pays out just 7% of the revenue it earns from premiums in NSW...
Home warranty providers dodge inquiry
10 June 2008
The Housing Industry Association and ICA may be forced to appear before a Senate inquiry into home warranty insurance after declining to appear voluntarily...
HIH liquidator wins Gen Re case
10 June 2008
The NSW Supreme Court has ruled General Reinsurance Australia should pay $2.4 million plus interest to HIH liquidator Tony McGrath...
NZ Reserve Bank outlines insurance regulations
10 June 2008
New legislation controlling the activities of insurers in New Zealand may be delayed by the impending election...
Regulators turn screws on ratings agencies
02 June 2008
Regulators have moved to improve controls on credit ratings agencies in the wake of the global credit crunch, which claimed many A-rated securities...
DOFI extension for foreign insurers
02 June 2008
Foreign insurers have an extra month to apply for a licence to write business in Australia...
APRA makes exec appointment
02 June 2008
Keith Chapman has replaced Tom Karp as Executive GM – Supervisory Support Division at APRA...
GE Money faces compo payout for mis-selling
26 May 2008
Last week’s crackdown on GE Money by the Australian Securities and Investments Commission highlights the importance of brokers, says NIBA CEO Noel Pettersen...
National product safety regime leaves liability rates unchanged
26 May 2008
The Federal Government’s proposed national product safety regime is unlikely to affect product liability rates, says a leading insurer...
Ratings agencies face review
26 May 2008
Corporate Law Minister Nick Sherry has announced a six-month review into the regulation of credit ratings agencies, which have faced increased scrutiny since last year's…
APRA issues reinsurance pass mark
26 May 2008
Insurers are on track to meet APRA’s reinsurance program targets...
Anti-money laundering law: brokers escape focus, but…
19 May 2008
But an industry advocate says brokers may still incur extra costs and paperwork organising premium funding for their clients...