Restrict the term ‘financial adviser’: AFA
10 August 2009
The Association of Financial Advisers is calling on the Federal Government to review requirements for professional indemnity insurance…
Regulatory & Government
Feathers still flying in ombudsman merger process
03 August 2009
The merger of the risk insurance, investments and banking dispute resolution schemes under the Financial Ombudsman Service umbrella continues to generate rumblings…
Fire services levy under tax review microscope
03 August 2009
Victorian Premier John Brumby is standing by the state’s controversial fire services levy on general insurance despite it coming under scrutiny by the Federal Government’s review…
Try to settle disputes in-house, says busy ombudsman
03 August 2009
New disputes before the Financial Ombudsman Service jumped more than 40% in the first five months of this year, prompting a plea to companies to beef up…
Bushfire queries dominate hotline
03 August 2009
The Financial Ombudsman Service says 90% of calls and emails received by its natural catastrophe hotline this year were about the Victorian bushfires – and 59% of those related to…
Stress is good for insurers, says regulator
27 July 2009
Insurer solvency stress testing should be stressful, according to a senior Australian Prudential Regulation Authority official…
IAG hits out at exec pay reforms
27 July 2009
Insurance giant IAG has urged the Federal Government to rethink its proposal to cap “golden handshake” payments or risk reducing the pool of qualified board members and executives…
Australia watches US credit rating moves
27 July 2009
Australia is watching the progress of new legislation before the US Congress which is aimed at tightening control over credit ratings agencies and reducing business reliance on them…
Insurer wants action on mobile phone drivers
27 July 2009
Personal lines insurer Budget Direct wants insurers to raise the premiums of vehicle owners convicted of using mobile phones while driving…
Clients stand to gain millions in stamp duty refunds
20 July 2009
Insurance customers may be eligible for more than $50 million in stamp duty refunds after the NSW Court of Appeal held the impost is not payable by foreign insurers…
Loss adjusters seek insurance code upgrade
20 July 2009
Loss adjusters want minimum standards set in the General Insurance Code of Practice for everyone handling insurance claims…
Insurance affordability under scrutiny
20 July 2009
Charity group the Brotherhood of St Laurence wants insurers to be more flexible in the way they arrange premium payments to help tackle high levels of underinsurance among low-income Australians…
Tasmania launches third party insurance trial
20 July 2009
The Tasmanian Government is taking the plight of community groups and their struggle to get public liability insurance into its own hands…
Government admits climate change is accelerating
13 July 2009
The Federal Government has released a new report that finds climate change is happening faster – and is more serious – than first thought…
Thumbs-up for complaints publishing proposal
13 July 2009
Consumer organisation Choice says a British proposal to make finance sector firms publish their complaints data has merit and could improve transparency if adopted in Australia…
HIH liquidator to proceed on settlement
13 July 2009
HIH liquidator Tony McGrath has received clearance to settle a $529 million civil damages case over HIH’s 1999 acquisition of FAI Insurance…
Terrorism pool appoints new member
13 July 2009
Financial Services Minister Chris Bowen has announced the reappointment of the Chairman and a new appointment to the Australian Reinsurance Pool Corporation board…
Queenslanders hit by another CTP rise
06 July 2009
Higher fuel tax, registration fees and compulsory third party insurance hikes that came into effect last week are about to undo car ownership and running cost savings made by Queenslanders...
Trowbridge reappointed
06 July 2009
Australian Prudential Regulation Authority Executive Member John Trowbridge has been reappointed for another year...
Insurance levy now $23.6 million
06 July 2009
General insurers will contribute $23.4 million to the upkeep of the organisations that regulate them in 2009/10...