APRA replaces Trowbridge
21 June 2010
The Australian Prudential Regulation Authority has appointed Ian Laughlin as Executive Member, replacing John Trowbridge, whose term concludes at the end of this month…
Regulatory & Government
Banned AR paid client’s claim himself
21 June 2010
WA authorised representative Steven James Ker has been permanently banned from providing financial services for dishonest conduct in relation to the placement of insurance…
Bowen committed to simplifying disclosure
21 June 2010
A Federal Government initiative to simplify disclosure documents for superannuation and simple managed investment products is likely to be extended to other sectors…
KPMG targets ASIC in constitutional challenge
15 June 2010
KPMG has fired a broadside against the Australian Securities and Investments Commission and Westpoint directors for their part in the $1.7 billion collapse of the property group…
Mixed feelings over NZ draft law
15 June 2010
NZ insurance brokers have welcomed changes to the Financial Service Providers Bill, which clarifies how they will be treated under the new regime…
Lloyd’s clients excluded from Queensland duty refund
15 June 2010
The Queensland Government has ruled that limited stamp duty refunds payable to clients of foreign insurers will not extend to Lloyd’s underwriters…
Funders lobbying hard over national credit code
15 June 2010
With just a fortnight until new national consumer credit laws come into effect, insurance premium funders remain hopeful of securing an exemption to the legislation…
Systemic risk improvements touted
15 June 2010
An international body representing securities commissions has released a new set of principles of securities regulation that incorporate lessons learned from the global financial crisis…
General insurers record first-quarter loss
07 June 2010
High claims costs combined with typically lower net written premium saw the general insurance industry record a $300 million underwriting loss in the first quarter of this year…
Bowen links commission ban with integrity
07 June 2010
Banning commission payments will boost the integrity and attractiveness of Australia’s financial services industry to offshore investors, according to Financial Services Minister Chris Bowen…
APRA publications to improve life insurance industry disclosure
07 June 2010
The Australian Prudential Regulation Authority has disclosed the level of detail it will include in its proposed new life insurance publications…
APRA rules national claims database non-confidential
31 May 2010
The prudential regulator won’t classify information on the National Claims and Policies Database as confidential following consultation with the general insurance industry…
APRA hosts capital review
31 May 2010
The Australian Prudential Regulation Authority’s reform of capital standards is gathering steam, with the regulator to meet industry figures next month…
Third-party premiums rise in SA
31 May 2010
Compulsory third-party car insurance premiums are on the move in SA, where drivers of the average family car will pay an extra $32 from next month…
Tenancy Act change may hit premiums
31 May 2010
A proposed amendment to the NSW Residential Tenancies Act could see tenants granted the right to make “minor or cosmetic” alterations to residential premises…
ACT tightens worker definition loophole
24 May 2010
An updated definition of a “worker” will end employers shirking their workers’ compensation responsibilities, according to ACT Industrial Relations Minister Katy Gallagher…
QBE to contribute to fifth Westpoint settlement
24 May 2010
The corporate regulator has settled a $2.5 million Federal Court class action against a Melbourne financial firm over advice given to investors in Westpoint…
NZ ombudsman wins official nod
24 May 2010
The New Zealand Insurance & Savings Ombudsman has been approved as an official dispute resolution service provider under new legislation…
Federal Government crackdown on low-ball share offers
24 May 2010
IAG has welcomed a move by the Federal Government to put an end to unsolicited low-ball share offers…
Moody’s methodology updated
24 May 2010
Moody’s Investors Service has updated its rating methodologies for insurers to include refinements based on lessons learned from the recent global financial crisis…