Peter Kell named ACCC Deputy Chair
14 July 2008
With a sometimes prickly relationship evident between the insurance industry and the Australian Competition and Consumer Commission, the appointment on Friday of Choice CEO...
Regulatory & Government
Westpoint war continues for ASIC
14 July 2008
ASIC has commenced new proceedings against Westpoint founder Norm Carey after an initial ruling against the regulator opened the door for a fresh bid...
APRA announces 2008 scholarships
14 July 2008
APRA has awarded two $12,500 student scholarships under the Brian Gray Scholarship Program...
Insurers hit by higher regulator levies
07 July 2008
Insurers are set to pay more to fund regulators’ activities following a hike in the financial sector levy that sees the Australian Prudential Regulation Authority increase its overall take…
Broker pleads guilty to ASIC fraud charges
07 July 2008
A Victorian broker has pleaded guilty to four fraud-related charges brought by the corporate regulator...
APRA releases draft internal model standards
07 July 2008
APRA has set out draft prudential requirements for the use of the internal model-based method in the calculation of insurers’ minimum capital requirements...
APRA finalises prudential framework changes
30 June 2008
The Australian Prudential Regulation Authority has finalised refinements to the general insurance prudential framework...
ASIC loses Westpoint battle, but the war continues
30 June 2008
Westpoint founder Norm Carey has won his case against the Australian Securities and Investments Commission...
ASIC granted two more commissioners
30 June 2008
ASIC will appoint two additional commissioners to cope with its expanded role, bringing the number of commissioners to five...
Liquidators face new PI requirements
30 June 2008
Liquidators will need to obtain professional indemnity and fidelity insurance under legislation coming into effect next Tuesday...
Five more years for APRA chair and deputy
30 June 2008
There’s a familiar look to the head table at APRA following the reappointment of Chairman John Laker and Deputy Chairman Ross Jones...
Trade Practices Act sees biggest reform in over 20 years
30 June 2008
The Federal Government has ushered in key reforms to the Trade Practices Act to protect smaller businesses from the predatory pricing strategy of larger rivals...
HIH claims scheme set to wind up
23 June 2008
The Federal Government’s HIH Claims Support Scheme should be wound up by the end of the year after accepting almost 11,000 claims since the insurer’s collapse in 2001...
Unions slam fire services levy
23 June 2008
An insurance industry expert has hosed down fire service union claims that a proposal to axe the NSW fire services levy will unfairly burden ratepayers...
ASIC execs depart
23 June 2008
ASIC has confirmed to insuranceNEWS.com.au the resignation of key senior executives as part of its wide-ranging restructuring program...
ASIC chalks up another Westpoint ban
23 June 2008
ASIC has banned WA financial planner David Liddicoat for three years for misleading clients on investments in collapsed investment company Westpoint...
Improved protection for long-tail liability claimants
16 June 2008
Legal protection standards for long-tail liability claimants are set to improve following the release of a report addressing concerns raised in the James Hardie inquiry...
Home warranty premium-to-claim ratio just 7%
16 June 2008
The Senate inquiry into home warranty insurance has heard the consumer protection policy pays out just 7% of the revenue it earns from premiums in NSW...
Home warranty providers dodge inquiry
10 June 2008
The Housing Industry Association and ICA may be forced to appear before a Senate inquiry into home warranty insurance after declining to appear voluntarily...
HIH liquidator wins Gen Re case
10 June 2008
The NSW Supreme Court has ruled General Reinsurance Australia should pay $2.4 million plus interest to HIH liquidator Tony McGrath...