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…
Regulatory & Government
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...
Liberals’ insurance man Pearce to step down
29 June 2009
Liberal Shadow Minister for Financial Services, Superannuation and Corporate Law Chris Pearce has announced he will quit Federal Parliament at the next election...
NSW Opposition attacks SES levy
29 June 2009
NSW Shadow Small Business and Regulatory Reform Minister Don Page has attacked the state’s newest insurance tax as “diabolical” – but he won’t confirm whether his party would repeal...
ASIC bans insurance broker
29 June 2009
The Australian Securities and Investments Commission has permanently banned a Victorian broker from providing financial services...
Wife killed, house torched in insurance scam
29 June 2009
A Victorian man who murdered his wife and torched his house as part of a $180,000 insurance scam will spend at least 17 years behind bars...
Claims drain industry profits
22 June 2009
New figures from the Australian Prudential Regulation Authority show the insurance industry’s net profit plunged 39% in the 12 months to March 31, with high claims...
APRA tests water on liability data
22 June 2009
The Australian Prudential Regulation Authority wants to know how much liability insurance data it should release from the National Claims and Policies Database...