Sting in the DOFI tail
04 February 2008
The Australian Prudential Regulation Authority's draft prudential changes to reinsurance and investment capital regulations may cost insurers up to $2 billion…
Regulatory & Government
ICA lobbies to axe tax on insurance
04 February 2008
The Insurance Council of Australia has wasted little time lobbying the new ALP Federal Government to abolish insurance taxes, tabling a Budget submission last month…
Compo schemes under review
04 February 2008
The Federal Government has suspended private companies from entering Comcare, the federal workers' compensation vehicle set up in 1988 for Commonwealth public servants…
Victoria reviews workers’ comp regime
11 December 2007
A leading figure in the Melbourne law establishment has been appointed to review the state’s workers’ compensation legislation…
APRA modernises life data collection
11 December 2007
The Australian Prudential Regulation Authority has upgraded its data transfer technology for the life sector…
FICS limits too low: ASIC
04 December 2007
New monetary limits for the Financial Industry Complaints Service must be raised in line with other external dispute schemes…
APRA updates life insurance standards
04 December 2007
New prudential standards for the life insurance industry will not impose any additional cost on insurers, according to the Australian Prudential Regulation Authority…
ASIC moots director liability shift
04 December 2007
Director liability will come under scrutiny by the corporate regulator amid mounting concerns of a brain drain in corporate Australia…
Burroughs ban stands
27 November 2007
Former FAI Group Reinsurance Manager Stephen Burroughs has failed in his attempt to overturn a banning order preventing him from holding a senior position at a general insurer…
FPA in call to slash red tape
20 November 2007
The Financial Planning Association has called for a reduction in red tape and the creation of a simplified advice category to open up access to financial advice to more consumers…
Suspended sentence for building fraudster
20 November 2007
A fraudulent Melbourne insurance provider has escaped jail for operating a financial services company without a licence and abetting dishonest conduct…
More headaches for Adler
13 November 2007
Disgraced former HIH director and head of FAI Insurance Rodney Adler could face further legal action in relation to the collapse of HIH Insurance in 2001…
Fodera gets three years
13 November 2007
Former HIH director Dominic Fodera has been sentenced to three years and four months in jail for his part in the company's collapse in 2001…
PI warning as ASIC launches Westpoint lawsuit
13 November 2007
ASIC's decision to launch legal action against individuals and companies involved in the Westpoint collapse could have wide-ranging implications for PI insurers…
Brokers call for DOFI exemption overhaul
06 November 2007
Insurance brokers are urging several changes to the Federal Government's three-pronged exemption system for foreign insurers…
Charges end in jail for planners
06 November 2007
Investigations by the Australian Securities and Investments Commission have led to the successful prosecution of financial advisers in Victoria and Queensland…
ASIC continues Westpoint cull
06 November 2007
A Sydney adviser is the latest financial planner to receive a ban as a result of the Westpoint collapse…
Fake insurer faces jail
30 October 2007
The man behind a Victorian company that fraudulently insured $100 million of building projects faces five years in jail after pleading guilty to charges…
Leisure operators warned on safety
30 October 2007
Victoria's recreational industry has been warned it must uphold basic safety standards after a County Court found a chairlift company guilty of negligence…
ASIC training regime under fire
23 October 2007
ASIC's enforcement of its education and training standards for financial providers has come under fire from ANZIIF…