APRA outlines scope of insurance regulation
25 May 2009
Regulators are likely to pay close heed to “non-core” operations of insurance companies in the wake of the global financial crisis, a leading Australian regulator has told a US audience...
Regulatory & Government
Melbourne man bailed over bushfire fraud
25 May 2009
A Melbourne man has been accused of trying to make an insurance claim after setting a unit and car on fire in Alexandra two weeks after Black Saturday...
ASIC dumps AR from financial services sector
25 May 2009
Regulators have tossed a WA authorised representative out of the financial services sector after he misled clients into investing in his own company...
$79 million in kitty for disaster plan
18 May 2009
The Federal Government has committed $79.3 million to strengthen efforts to prepare for and deal with major natural disasters...
SA firm and director face Westpoint charges
18 May 2009
Power Financial Planning and its former director Stephen McArdle faced the Adelaide Magistrates Court on Friday on charges related to failed investment firm Westpoint...
Unions want changes to proposed national OHS laws
18 May 2009
The Australian Council of Trade Unions has called for changes to proposed national occupational health and safety laws to better protect Australian workers...
ASIC places permanent ban on adviser
18 May 2009
ASIC has permanently banned Townsville adviser Neil Francis Dodd from providing financial services citing his misuse of client funds...
Regulator receives funding boost
18 May 2009
The Federal Government is increasing its funding of ASIC...
Bowen puts home warranty in spotlight again
11 May 2009
Consumer Affairs Minister Chris Bowen has called for another review into home builders’ warranty insurance just months after a Senate inquiry recommended only modest changes to the product...
NIBA opposes rise in dispute compensation cap
11 May 2009
NIBA has told regulators a $200,000 hike in dispute compensation limits will jeopardise brokers’ access to professional indemnity cover...
APRA wants to hear about IT security risks
11 May 2009
The Australian Prudential Regulation Authority is seeking input on an information technology security risk guide – even though it isn’t intended to replace current industry standards...
Government pushes back ETA for its ETS
11 May 2009
Insurers will generally welcome the Federal Government’s decision to significantly change its proposed carbon emissions trading scheme in a bid to get the legislation through the Senate...
Legislation targets life insurers
11 May 2009
Tricky federal legislation targeting life insurers has entered a new phase, with the Australian Prudential Regulation Authority calling for submissions on proposed changes...
Medical indemnity gets clean bill of health
04 May 2009
The Australian Competition and Consumer Commission says medical indemnity insurance prices are now where they should be, seven years after industry turmoil saw rates rocket...
APRA bans former FAI executive
04 May 2009
APRA has disqualified former FAI senior executive Ashraf Kamha for his role in producing fraudulent company accounts...
New credit regime takes a hard line
04 May 2009
The Federal Government has released its draft National Consumer Credit Protection Bill to “modernise” Australia’s financial services sector...
New PI limit too high, say brokers
27 April 2009
Brokers aren’t happy about a looming increase in the claims limit being imposed by the Financial Ombudsman Service as it takes on the role formerly undertaken...
ASIC unable to prevent Storm collapse
27 April 2009
The collapse of Queensland investment firm Storm Financial could not have been prevented by ASIC...
Community groups fail in bid for liability reform
27 April 2009
Community and arts groups have failed in their bid to obtain public liability insurance subsidies or exemptions following the Australia 2020 Summit last year...
HIH collaborator cops lifetime ban from UK regulator
20 April 2009
The UK financial regulator has won a long drawn-out case against a former reinsurance executive whose sham transactions helped an HIH Insurance subsidiary hide massive losses...