NIBA executive joins high-level group
29 November 2010
National Insurance Brokers Association’s Professional Development Executive Linda Evans is the sole insurance representative for a new financial advice advisory panel…
Regulatory & Government
Insurance tax overhaul needed
29 November 2010
Federal Treasury Secretary Ken Henry has kept up his attack on state taxes on insurance, labelling the taxes as some of the most inefficient in Australia…
Brigade donations get tax break
29 November 2010
The Federal Government plans to extend access to tax deductible donations to all volunteer fire brigades…
Draft tax changes to hit captive insurers
22 November 2010
Treasury’s proposed tax changes to controlled foreign company rules could push captive insurance costs up by as much as 48%, according to some submissions from leading brokers…
APRA issues warning on cloud computing
22 November 2010
The Australian Prudential Regulation Authority is warning insurers to maintain their own risk assessment and management procedures when looking at outsourcing IT services offshore…
Life just got tougher for share-raiders
22 November 2010
A bill to help protect shareholders from unscrupulous offers to buy their shares cheaply has passed through the Federal Parliament…
APRA sharpens risk appetite focus
15 November 2010
Insurers should expect the Australian Prudential Regulation Authority (APRA) to increase its focus on risk appetite, according to new APRA Executive Member Ian Laughlin…
NZ looks at consolidating financial literacy
15 November 2010
New Zealand is considering putting its financial literacy program under the control of a single authority…
Kids to learn natural disaster safety
15 November 2010
An education program for children focusing on natural hazards has been launched by the State Emergency Service agencies…
NZ insurers weather tax changes
15 November 2010
Major changes to NZ’s GST regime haven’t yet impacted premium renewals for both general and life insurance…
ASIC keeps an eye on credit insurance
08 November 2010
The Australian Securities and Investments Commission is reviewing consumer credit insurance direct marketing operations following complaints about Citigroup products sold through telephone sales…
APRA sees room for insurers to improve
08 November 2010
The Australian Prudential Regulation Authority is looking closely at how general and life insurers are stress-testing their operations and the impact it will have on their capital reserves…
HIH’s Brad Cooper gets out of jail
08 November 2010
The last of the jailed HIH trio of executives, Brad Cooper, has been released from jail after serving five years for dishonestly obtaining $6.7 million from the insurer just before its collapse…
Doctors want red tape cut
01 November 2010
Doctors refusing to treat injured workers say an urgent review of Victoria’s WorkCover scheme is “desperately needed” to cut government bureaucracy…
ASIC pursues phone PDS comments
01 November 2010
General insurers are being urged to comment on a discussion paper examining the issuing of product disclosure statements during telephone sales…
Queensland gets $26 million resilience boost
01 November 2010
The Federal Government has announced a $26 million boost to Queensland’s ability to cope with natural disasters…
NZ super regulator chief named
25 October 2010
After a global search, the NZ Government has recruited an expert from Australia – who is a Kiwi – to head its new Financial Markets Authority…
Insurance business numbers hold firm
25 October 2010
Insurance and financial services have bucked a business downturn to grow their numbers until the end of the 2009 financial year…
Business leaders ‘appalled’ by NSW backflip
25 October 2010
Business leaders have united to condemn plans by the NSW Government not to honour the national agreement to harmonise occupational health and safety laws…
Treasury relooks at life insurance commission ban
18 October 2010
Federal Treasury will consult with the life insurance industry before issuing a proposal on commissions next year…