AR banned over factory fire claim
24 June 2019
A Victorian authorised representative has been permanently banned from the financial services industry for dishonest conduct...
Regulatory & Government
Add-on cover refunds pass $130 million
24 June 2019
The Australian Securities and Investments Commission has announced further repayments of $14.7 million for consumers sold “worthless” add-on insurance cover at car yards...
ASIC gives AFCA the nod on legacy complaints
24 June 2019
The Australian Securities and Investments Commission has approved rule changes that allow the Australian Financial Complaints Authority to investigate matters dating back to 2008...
$8.6b burden: NSW insurance taxes keep growing
24 June 2019
The NSW Government will reap $8.6 billion from insurance taxes and levies over the next four years, the latest state budget shows...
SA rakes in more insurance taxes
24 June 2019
The SA Government expects to collect $486.3 million in insurance taxes this financial year, up 5.7% on the previous year, state budget figures released last week show...
ARPC audit suggests alternatives to premium rises
24 June 2019
An Australian Reinsurance Pool Corporation audit has suggested examining options to minimise premium rises if there is a need to rebuild capital after a terrorist attack...
Tribunal to hear Canterbury quake claim disputes
24 June 2019
New Zealand has created an insurance tribunal to resolve outstanding claims relating to the 2010/11 Canterbury earthquakes, providing $NZ3.39 million in funding...
Sydney tower evacuation ‘symptomatic’ of building failures
17 June 2019
Cracks in Sydney’s Mascot Towers block that led to its evacuation on Friday are “symptomatic” of the troubled building industry, Insurance Council of Australia GM Risk Karl Sullivan says...
ICA questions spike in regulatory levies
17 June 2019
The Insurance Council of Australia has criticised the increase in supervisory levies applied to the sector by the prudential regulator, with the rise outstripping that levelled on the banks...
APRA warns on modelling risk amid climate crisis
17 June 2019
Accelerating climate change could destroy the industry’s ability to predict catastrophes based on past events, making it impossible to price future risk, the prudential regulator warns...
SIRA extends icare consultation
17 June 2019
The State Insurance Regulatory Authority has extended its consultation on the compliance and performance review of NSW workers’ compensation nominal insurer icare...
ICA renews push to remove SA stamp duty
17 June 2019
The Insurance Council of Australia (ICA) has again urged the SA Government to scrap stamp duty on insurance products sold in the state...
icare data shows ‘deteriorating performance’
11 June 2019
Performance data shows a major deterioration in the NSW workers’ compensation scheme, a former principal actuarial adviser to the State Insurance Regulatory Authority says…
NSW election holds up ESL Monitor findings
11 June 2019
Quarterly reports from NSW Emergency Services Levy Monitor Allan Fels have not been published since late last year, with delays blamed on the state election in March…
APRA wants $30 million levy on insurers
11 June 2019
The Australian Prudential Regulation Authority is seeking $30 million from general insurers via the annual supervisory funding levy, and invites industry to respond by Friday…
Greens use FOI to reveal Sydney cladding risk
11 June 2019
Hundreds of buildings in the City of Sydney area are at risk due to flammable cladding, the NSW Greens say…
QBE, Allianz drop CTP prices as SA opens competition
11 June 2019
A typical Adelaide household will save about $200 a year after QBE and Allianz cut their compulsory third party premiums, according to SA Treasurer Rob Lucas…
APRA urges actuaries to blow whistle
03 June 2019
Actuaries must “have the courage” to speak up when they see signs of non-financial risk, an area where the Australian Prudential Regulation Authority has increased its focus…
Albanese changes financial services leader
03 June 2019
NSW MP Stephen Jones has been named Shadow Assistant Treasurer and Shadow Minister for Financial Services in the federal ALP’s shadow cabinet under new Opposition Leader Anthony Albanese…
Anger as Victoria cladding fix excludes private owners
03 June 2019
The Victorian Government has provided no funding in its budget for owners to remove flammable cladding from private residential buildings…