Man admits $4 million insurance scam
03 November 2008
Victorian businessman Timothy John McKenzie has pleaded guilty to five charges of deceptive conduct and theft relating to insurance premium payments of over $4 million...
Regulatory & Government
Tsunami warning centre opened
03 November 2008
Australia’s new Tsunami Warning Centre was officially opened in Melbourne last week...
Victorian Opposition questions WorkCover hike
03 November 2008
Victoria’s Liberal Opposition has put the acid on the state government over WorkCover industry premium rates which are set to rise for 22% of industry sectors this financial year...
ICA calls for insurance tax cuts
27 October 2008
ICA’s submission to the Federal Government review of Australia’s Future Tax System pushes for the complete abolition of general insurance taxes...
Pearce attacks Government for ‘ignoring’ insurers
27 October 2008
Insurers are keeping well clear of Opposition claims the Federal Government has excluded them from high-level discussion on the global financial crisis...
Insurance bodies look to regulators at Budapest conference
27 October 2008
The insurance industry’s leading bodies are calling for greater international co-operation between insurance regulators as the global financial crisis deepens...
ASIC keeps Westpoint bans rolling…
20 October 2008
ASIC has tossed another former Westpoint adviser out of the profession, handing down a five-year ban to Pierre Schinazi of Perth...
… and takes on KPMG
20 October 2008
ASIC is also taking legal action against KPMG over the auditing of companies involved in the Westpoint collapse...
Appeal Court decision gives insurers ‘comfort’ on policy wording
20 October 2008
The NSW Court of Appeal has sided with insurers for upholding policy exclusions in a case involving defective construction work at Sydney Airport...
NZ money laundering law is small beer for insurance
20 October 2008
New Zealand’s proposed anti-money laundering legislation won’t have a material effect on the local insurance sector, according to Insurance Council of NZ CEO Chris Ryan...
Wilkie cleared of fraud charges
20 October 2008
Former FAI director Daniel Wilkie has been found not guilty of three charges of fraud and dishonesty...
Policyholder scheme back on the front burner
13 October 2008
PM Kevin Rudd has confirmed new protection measures for general insurance customers as part of his latest initiative to restore confidence in Australia's financial institutions...
Australian regulatory system ‘a world leader’
13 October 2008
The regulation of the Australian financial services sector is among the very best in the world, according to an international report released last week...
Westpoint promoter permanently banned
13 October 2008
The Australian Securities and Investments Commission has permanently banned former Westpoint promoter Neil Burnard from providing financial services...
Australia better placed than most in financial crisis
13 October 2008
While Australia will not be immune from the global economy crisis, it is better placed than most to withstand it, says Finance Minister Lindsay Tanner...
NZ financial industry urges further regulatory reform
06 October 2008
A survey of the NZ financial services sector reveals regulatory hurdles continue to obstruct the free flow of financial services and products between NZ and Australia...
ASIC appeals ‘lenient’ Westpoint sentence
06 October 2008
The Commonwealth Director of Public Prosecutions has appealed against the sentence handed down to former Westpoint financial adviser Neil Burnard on August 22...
ASIC: group insurance buyers in the clear
06 October 2008
ASIC has confirmed that group insurance purchasing bodies will not require an Australian financial services licence...
APRA to stay mum on AIG
29 September 2008
Brokers and insurance clients waiting to hear an official word from the Australian Prudential Regulation Authority on the prudential health of AIG Australia are advised to keep breathing...
Pearce returns to the fold as Liberals’ go-to insurance man
29 September 2008
Chris Pearce is back in touch with the insurance industry having accepted a key shadow ministry position with the new team of Liberal leader Malcolm Turnbull...