NIBA asks for some FSRB clarification
24 July 2001
What exactly are “principals” and “representatives” as ASIC sees them? Since the regulator issued its two sets of policy proposal papers over the FSRB in May and June…
Regulatory & Government
ATO & APRA introduce Super penalties
24 July 2001
Individual employers and companies face penalties of up to $54,000 if they fail to promptly send employees’ funds to the nominated super account…
Hockey appoints advisors for global financial centre
17 July 2001
Joan Fitzpatrick, CEO of the Australia and New Zealand Institute of Insurance and Finance, is one of 11 private sector professionals appointed to advise Financial Services…
Adler, Williams put documents on ice
10 July 2001
ASIC is expected to mount a strong case to use documents seized from two former HIH directors…
Report calls for Marine Insurance Reform
10 July 2001
The Marine Insurance Act, once described by the Attorney General’s Department as “out of step”, is under review…
Act on the fast-track
03 July 2001
The Insurance Act Amendment Bill has been introduced into Federal Parliament, with a fast-track schedule towards a commencement date of July 1 next year…
Quiet passage for vital law
03 July 2001
The deluge of insurance-related legislation pouring through Federal Parliament over the past couple of weeks also saw the previously troubled Corporations Act pass…
Tax changes protect HIH claimants
03 July 2001
Australia’s “monster” treatment of GST on claims will be amended to ensure Commonwealth payments from HIH Claims Support don’t attract additional income tax or GST…
ICA calls for review to stretch the limits
26 June 2001
The upcoming Insurance Act needs more, much more, according to the Insurance Council…
New ASIC commissioner for WA
26 June 2001
Michael Gething has been appointed to a three-year term as ASIC’s WA Regional Commissioner…
ASIC charges three GIO officers
26 June 2001
The corporate cop has announced civil proceedings against three former officers of GIO Insurance, with ASIC Chairman David Knott accusing them of breaching their duties…
State monopolies will be examined
19 June 2001
In the face of harsh criticism, Australia’s general insurers are taking consolation from one aspect of the HIH collapse: statutory insurance schemes run by the states…
Opposition mounts to united leadership
19 June 2001
Could Victoria try to subsidise its ailing workers’ compensation system by joining it with the highly profitable Transport Accident Commission and running them as one…
Vic freezes small business premiums
19 June 2001
Premiums for most Victorian small businesses have been frozen for the 2001/02 year…
Insurers will pay more for regulators
19 June 2001
Financial services providers – including life and general insurers – will pay nearly $68 million in levies to keep the regulators running in 2001/02…
Journos resist FSRB “adviser” requirements
19 June 2001
The Financial Services Reform Bill casts a very wide shadow – now it’s even catching up with journalists…
Hockey answers question
19 June 2001
Financial Services and Regulation Minister Joe Hockey has commented on confusion surrounding a recent Business Review Weekly article, in which he was quoted criticising…
Actuaries honour teacher
13 June 2001
John Pollard, the Professor of Actuarial Studies at Macquarie University, has become only the third person to be awarded the Institute of Actuaries in Australia’s silver medal…
HIH commissioner name due
13 June 2001
The Federal Government has settled on a person to head up the impending royal commission into the HIH collapse, and will probably name him within days…
Rising premiums lead to government inquiry
13 June 2001
The insurance industry is under scrutiny as never before, thanks to the HIH collapse…