Extension for group purchasing class order
30 January 2012
The Australian Securities and Investments Commission has extended the deadline for group purchasing bodies to meet with breach reporting conditions…
Regulatory & Government
APRA still interested in mutual fund returns
30 January 2012
The Australian Prudential Regulation Authority wants discretionary mutual funds to continue submitting financial data, including insurance costs, for the 2011 financial year…
APRA revamps GI reporting bulletins
30 January 2012
The Australian Prudential Regulation Authority is scrapping its half-year report on the general insurance industry…
Shorten promoted, but keeps financial services
12 December 2011
Bill Shorten will retain his oversight of the insurance sector following his appointment today as Federal Employment and Workplace Relations Minister in a Federal ministry reshuffle…
Keelty to lead WA fire inquiry
12 December 2011
Former Australian Federal Police commissioner Mick Keelty will head an inquiry into the Margaret River bushfires that destroyed 41 homes and burned out more than 3400 hectares of land…
Victorian emergency services to be overhauled
12 December 2011
A report into last summer’s $1.3 billion flood disaster in Victoria has recommended sweeping changes to the way emergency services work together. It has also called for changes to the methods of collecting…
Draft prudential standards issued for general and life insurers
12 December 2011
The Australian Prudential Regulation Authority has issued a response paper and 14 draft prudential standards as part of its review of capital standards for general and life insurers…
APRA releases new forms for Level 2 insurers
12 December 2011
The Australian Prudential Regulation Authority has released nine new reporting forms for Level 2 insurance groups…
APRA appoints new divisional chiefs
12 December 2011
The Australian Prudential Regulation Authority has appointed two new EGMs, one to its diversified institutions division and another to its supervisory support division…
FMA completes team with two further appointments
12 December 2011
The New Zealand Financial Markets Authority has finalised its strategic leadership team with two further appointments in its Auckland office…
Reinsurance levels up 50% after floods, APRA says
05 December 2011
The most significant impact of the year’s natural disasters on the industry has come from reinsurance, reinstatements and renewals, Australian Prudential Regulation Authority Executive Member…
Government puts flood cover into law
05 December 2011
As is becoming the norm for financial services bills, the Federal Government has quietly introduced the flood cover amendments to the Insurance Contracts Act…
Flood report in hands of Victorian Government
05 December 2011
The Victorian Government has received the Comrie review into last summer’s floods but as yet has no plans to release it publicly…
Workers’ comp changes become law
05 December 2011
The Federal Government’s bill reversing changes to workers’ compensation introduced by the Howard government has been passed…
Correction:
05 December 2011
On November 28 we published a report (“Strata title insurance concerns referred to ACCC”), in which Leichhardt MP Warren Entsch named several major insurers which he said had left the north Queensland…
FOFA bill No 2 spells out ‘best interest’ requirements
28 November 2011
The Federal Government has quietly slipped into Parliament the second tranche of the Future of Financial Advice reforms defining “best interest” obligations…
Strata title insurance concerns referred to ACCC
28 November 2011
The Australian Competition and Consumer Commission has been asked to investigate lack of competition and the dominance of Zurich General Insurance in the north Queensland residential…
NZ Earthquake Royal Commission to hear of major building collapses
28 November 2011
The Canterbury Earthquakes Royal Commission today begins public hearings into the collapse of major city buildings in the February 22 earthquake…
NZ to press ahead with post-election ACC privatisation
28 November 2011
The New Zealand Government will proceed with opening up its personal injury compensation system to competition following the National Party’s re-election at the weekend…
MoneySmart urges insurance checks before big cyclone season
28 November 2011
Consumer advice website MoneySmart is urging homeowners to review their insurance following the Bureau of Meteorology’s forecast of higher than normal cyclone activity for the cyclone season…