Shorten proposes super-regulator
17 September 2012
The Australian Prudential Regulation Authority’s powers to investigate, prosecute and terminate troubled insurance companies could be dramatically increased under a root-and-branch overhaul…
Regulatory & Government
ASIC releases surveillance snapshot, new service charter
17 September 2012
The Australian Securities and Investments Commission has released an overview of surveillance work it undertook in the last financial year, as part of its bid to improve transparency and increase public…
VMIA loses $320 million
17 September 2012
The Victorian Managed Insurance Authority has posted a loss of $319.9 million in the year to June 30, following three years of natural disasters, falling interest rates and increased risk exposure…
Insurance duties to boost Queensland
17 September 2012
The Queensland Government expects revenue from insurance taxes to grow by 10.6% this financial year, reflecting increased coverage and premium growth…
TAC reports $1.02 billion loss, but insurance profitable
17 September 2012
The Victorian Transport Accident Commission suffered a $1.02 billion loss in 2011/12, down from a $279.4 million profit in the previous year, amid collapsing investment returns and falling interest rates…
NZ regulator to consider life insurance classifications
17 September 2012
Insurance regulator the Reserve Bank of New Zealand may ask insurers and their actuaries to provide information on how they classify life insurance business, specifically in terms of how products…
APRA makes concession on capital requirements
10 September 2012
General and life insurers will no longer need to seek Australian Prudential Regulation Authority approval for reductions in preference equity and subordinated debt…
Victorian FSL monitor to report on insurance prices during transition
10 September 2012
The man tasked with overseeing the end of the fire services levy in Victoria is to scrutinise and report on insurance prices during the transition period…
WorkCover Queensland: good but could be better
10 September 2012
Submissions to the Queensland Parliament on the performance of the state’s workers’ compensation scheme include calls for less red tape around self-insurance eligibility and criticism of the program’s…
New office to tackle asbestos removal
10 September 2012
Asbestos will be completely removed from the built environment by 2030 under a plan announced by the Federal Government…
NZ adviser calls for earthquake tax breaks
10 September 2012
New Zealand commercial property owners should be allowed to claim earthquake-strengthening work as a tax deduction, an Auckland-based tax expert says…
New chairman and board members for NZ ACC
10 September 2012
Paula Rebstock is the new chairman of New Zealand’s Accident Compensation Corporation, where she will be joined by three new board members in a shake-up following a privacy breach…
Shorten lists the industry’s challenges
03 September 2012
Claims from natural disasters should be assessed as quickly as any others and more progress is needed on industry issues such as the code of practice, floods and cover for elderly people…
Taxi clubs must be eradicated: report
03 September 2012
Victoria must follow other states by introducing compulsory third party property insurance for taxi drivers, a new report says…
Quake inquiry calls for tougher building standards
03 September 2012
The Canterbury Earthquakes Royal Commission has recommended further research into active faults near population centres and more work on building foundations…
ICA details seniors’ cover to Law Reform Commission
03 September 2012
The Insurance Council of Australia has handed a list of companies offering cover for seniors to the Australian Law Reform Commission…
NZ advisers escape discipline committee – for now
03 September 2012
No financial services advisers have yet been brought before New Zealand’s Financial Advisers Disciplinary Committee, according to the NZ Financial Markets Authority…
Wivenhoe dam engineers cleared
27 August 2012
Queensland’s Crime and Misconduct Commission has cleared three Wivenhoe Dam engineers whose actions were questioned after last year’s floods…
Airline passenger compensation to be increased
27 August 2012
The Australian airline passenger liability cap will be raised by $225,000 to $725,000 under a new aviation insurance bill introduced in Parliament last week…
APRA lifts income protection restrictions in super
27 August 2012
Super funds are to be allowed to buy income protection insurance from any insurer, not just life companies…