Victoria works on bushfire recommendations
06 June 2011
The Victorian Government has allocated more than $900 million to implement all 67 recommendations from the 2009 Victorian Bushfires Royal Commission…
Regulatory & Government
ASIC aims for greater transparency
06 June 2011
The Australian Securities and Investments Commission must open up a more transparent system with better communication channels and education, new Chairman Greg Medcraft says…
NZ insurers give ACC privatisation plan a cautious welcome
06 June 2011
New Zealand insurers have “cautiously” welcomed the Government’s proposal to open up the Accident Compensation Corporation’s workers’ compensation account to private competition…
ASIC looks at PDS requirement on phone sales
06 June 2011
The Australian Securities and Investments Commission is looking at how a product disclosure statement is provided to consumers seeking general insurance quotes over the phone…
Guiding employees back to work
06 June 2011
WorkCover WA is demystifying the workers’ compensation scheme for employers, highlighting the role of insurance in getting employees back on the job…
New disclosure rules for credit ratings agencies
06 June 2011
The Australian Securities and Investments Commission has detailed what it expects to be in credit ratings agencies’ compliance reports…
ADIs get new ‘behavioural boundaries’
06 June 2011
The Australian Prudential Regulation Authority is setting new behavioural boundaries for authorised deposit-taking institutions and the general and life insurance industries following a consultation…
WorkSafe agents slammed for poor reporting
30 May 2011
A scathing examination into Victoria’s WorkSafe claims processing has revealed some embarrassing failures by insurers and other claims agents and raised more questions over the sacking…
Coalition wants answers on insurance commissions
30 May 2011
The Federal Coalition will be raising the issue of general insurance brokers receiving payments for products sold through superannuation at a Senate Estimates hearing this week…
More to do on building standards after Yasi
30 May 2011
Standards Australia is reviewing building standards following research into how buildings in North Queensland stood up to Cyclone Yasi in February…
Call for higher SA council liability limits
30 May 2011
The Local Government Association of South Australia has called for the compulsory insurance levels of councils to be raised dramatically…
Insurers warned to watch capital-raisings
30 May 2011
The Australian Prudential Regulation Authority has told general insurers planning to raise Tier One capital to contact the regulator as part of the switch to Basel III requirements…
Government still pondering compulsory flood cover
23 May 2011
Attorney-General Robert McClelland says the Federal Government has not ruled out mandating that homes and businesses in high-risk flood areas must buy cover for flood, and may subsidise…
APRA wants more general insurance changes
23 May 2011
The Australian Prudential Regulation Authority is proposing minor changes to the prudential and reporting framework of level two general insurance groups…
Lower APRA levies for general insurers
23 May 2011
General insurance companies will be expected to pay the Australian Prudential Regulation Authority $22 million in supervision levies for the 2012 financial year…
Christchurch earthquake: Industry welcomes $NZ5.5 billion recovery package
23 May 2011
The New Zealand insurance industry has welcomed a $NZ5.5 billion ($4.1 billion) funds injection to assist rebuilding in the Canterbury region…
ACC privatisation not clear
23 May 2011
The Insurance Council of New Zealand says it’s unclear what impact the proposed privatisation of the Accident Compensation Corporation’s workers’ compensation business will have…
Insurance contract standard deadline slipping
23 May 2011
The International Financial Reporting Standards Foundation is working to produce a proposed standard by June 30 and is meeting weekly in Europe to iron out any differences…
Insurance industry ignored in the Budget
16 May 2011
The insurance industry has escaped any draconian changes in this year’s Federal Budget, but this could be the calm before the storm because the Government’s review of insurance is…
ASIC forecasting a $44 million deficit
16 May 2011
The Australian Securities and Investments Commission has been given a $541.6 million budget for the 2012 financial year, according to the Federal Budget papers…