Australian News
Watch your step
Pedestrians are being reminded to not let technological distractions put them in positions of danger.NRMA CTP claims data shows that a pedestrian a day is
IAG still open to offers
A statement issued to the ASX by IAG prior to yesterday’s annual general meeting saw the possibility of a takeover raise its head once again. ...New international body proposed to replace ANZIIF
The United Kingdom's Chartered Insurance Institute (CII) and the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) have announced plans to merge in 2009 ...Health insurer rejects proposal
In a statement issued yesterday to the Australian Stock Exchange, nib confirmed that it has been approached with an unsolicited, non-binding and incomplete proposal from a ...IPART recommends tax overhaul
The Independent Pricing and Regulatory Tribunal (IPART) has released it's final report outlining recommended changes to the NSW tax system.As reported previously at theindustry.com.au , IPART ...Parking incidents on the rise
Data released by NRMA Insurance has shown parking related insurance claims are on the rise. A review of NRMA 2007 - 2008 comprehensive motor claims ...
Insurance broker found guilty of dishonest conduct
Following an earlier ASIC investigation a New South Wales insurance broker, Mr Scot Weston, has been convicted in relation to four charges of dishonest conduct. A release issued earlier ...Medibank Private to offer life insurance
As part of it's diversification strategy, Medibank private today announced the addition of life insurance to it's list of available products.The product issuance and distribution ...Suncorp responds to market rumours
In response to weeks of market speculation, Suncorp has today issued a statement to the ASX confirming it has been approached by several parties expressing an interest in acquiring the ...Oamps appoints new manager
Following the retirement of Mr Peter Kaye, OAMPS Insurance Brokers Ltd today announced the appointment of Kevin Strike to the position of Townsville Branch Manager.Scott Denning, Queensland Regional ...Community groups to benefit from ASIC ruling
ASIC has today announced the removal of unnecessary red tape and provided certainty around the licensing requirements of group purchasing bodies.Group purchasing bodies may be eligible for AFSL exemption if they are ...Insurer opens 24hr emergency line for storm victims
Car and home insurer AAMI has requested that all policyholders affected by yesterdays storms across NSW contact them immediately on their 24hr emergency line."AAMI is ...Severe winds expected to lash Sydney tonight
After a brief respite to storm related insurance claims winds of over 100km/h have torn through western NSW leaving a path of destruction. A gale ...
The Industry gives you the chance to win $1,000 !
Starting to save for Christmas? Great news, The Industry is giving you the chance to win $1,000 ! Sign up as a member before 4pm ...Talent shortage addressed by Zurich
To ensure that the insurance talent pool does not run dry, Zurich Financial Services Australia (ZFSA) has launched a cadet program to locate and develop potential ...
Older vehicles targets for theft
Older vehicles are prime targets for theft according to claims data released this week by RACV Insurance. “Our data shows that 73 per cent of car theft ...Another HIH disqualification set aside
The Administrative Appeals Tribunal (AAT) today overturned the 2006 decision of APRA to disqualify Mr Paul Mario Abela from being or acting as the holder ...
Survey finds it's all in the stars
Claims data released today by AAMI shows Aquarian and Cancerian drivers as the most likely of all drivers to be involved in a motor accident.“Among ...
Standard flood definition rejected by regulator
The Australian Competition and Consumer Commission (ACCC) has denied the Insurance Council of Australia's proposal for a common definition of 'inland flood'."The ACCC supports efforts to ...Spring's here, get cleaning.
Greg Mullins, NSW Fire Brigades Commissioner, today encouraged households to reduce the risk of a fire in the home with a spring clean. "With spring here, ...
Sydneysiders pay more
A survey of Australias leading domestic insurance companies has found that Sydney residents pay more on average for their home and contents insurance than residents of ...
Pay as you drive insurance launched in Australia
Pay As You Drive from Real Insurance, is a new insurance product whereby qualified customers prepay their insurance based on the number of kilometres they plan to travel. The premium is calculated ...New Director at NIBA
OAMPS Head of Strategic Development, Mr David Wyner, has been appointed to the board of the National Insurance Brokers Association (NIBA).Mr Wyner is appointed following ...
Acquisition given the go ahead
The Australian Competition and Consumer Commission today announced that it does not believe that the proposed acquisition of health insurance provider Australian Health Management Group Limited ...Insurer announces partnership to address underinsurance
Saropa Pty Ltd today announced a partnership with CGU Insurance which will allow advisers to receive fee income on policies written throught the disaster recovery assistance system.‘Underinsurance is a big ...Japanese insurer steps into Australia
Japanese life insurance company Dai-ichi has announced its entrance into the Australian life insurance market through the purchase of GPG's 30% holding in TOWER Australia.“We are ...Award winner named
At a lavish awards ceremony hosted by ANZIIF and attended by hundreds of insurance professionals, Suncorp have been named General Insurer of The Year. "This award highlights our achievements in ...Australian insurers investment approach reduces loss
The financial turmoil being experienced worldwide has had little impact on the Australian general insurance industry according to a report issued today by the Australian Prudential Regulation ...Big changes at the top for CGU
After announcing a new company structure last month, CGU Insurance has today announced five more senior appointments.John Evans - General Manager, RetailDarren Maher - General Manager, ...
Insurer leads the way with flood cover
Zurich Financial Services Australia has today released the final details of its flood cover plan. After more than 12 months work Zurich becomes the first Australian insurer to ...Panic causes over $2 Million worth of damage each year
Figures released this week by NRMA Insurance show that drivers panicking when faced with the approach of an emergency services vehicle cause at least 10 accidents every ..."The Right Direction" commemorates 25 years
To commemorate its 25th Anniversary, the National Insurance Brokers Association (NIBA), has launched “The Right Direction”. A detailed account of the history of the association ...New appointment at Oamps
Oamps Insurance Brokers today announced the appointment of Martin Van Rhoon to the role of Head of Corporate Broking for Australia.“This appointment recognises the evolution ...World's most ethical insurance company named
The Ethisphere second annual "World's Most Ethical Companies" list has named Allianz as the "Most Ethical Insurance Company".Alexander Brigham, executive director of Ethisphere Institute, said "we ...
Push for car makers to adopt new ID technology
Hyundai, Audi, Nissan and Renault have been commended by NRMA for incorporating self voiding identification labels into their manufacturing processes.Unlike a standard compliance plate, the self ...
ACCC gives go ahead for flood insurance definition
In response to a request made by The Insurance Council of Australia (ICA), the ACCC has given the green light to the development of a standard 'inland ...
Updated crop insurance policy from CGU
With a long respected history which includes over 90 years of paying crop insurance claims, general insurer CGU has released their updated crop insurance policy. A media ...
New insurance requirements for liquidators
New insurance requirements for registered liquidators will come into effect 01 July 2008. Amendments to the Corporations Act 2001 will force all registered liquidators to ...New General Insurance State Manager for Zurich
Allowing intemediaries access to decision makers has long been a strategy of Zurich Financial Services Australia (ZFSA). As part of this strategy ZFSA has announced ...CGU steps in to assist consumers
Following the recent collapse of Beechwood Homes another construction company has now entered into voluntary administration., The CGU Home Warranty Team has requested that all ...Five categories of insurer recognised
After commencing work on the review of the general insurance prudential framework over twelve months ago, APRA have released their final refinements which includes the ...
IPART recommends reduction in insurance taxes
IPART have issued a report to the NSW Treasury recommending a reduction on taxes levied against insurance products. The report names Insurance Duty and Fire Services Levy as the most inefficient state taxes....Zurich launches Ezicover Funeral Plan online
With funeral costs increasing to figures of at least $10,000, Zurich Financial Services Australia has launched it's sixth online life insurance product 'Ezicover Funeral Plan'. ...DOFI reporting requirements deferred
Reporting requirements which were to be placed upon insurance brokers from July 1 have now been deferred for three months until October 1 after pressure ...Zurich to offer product for carbon credit projects
Zurich Financial Services Australia’s Emerging Markets Unit today announced that it would be providing political risk insurance for carbon credit projects. "Zurich recently wrote political risk coverage for ...
Suncorp increases its presence in Western Australia
Suncorp Australia today announced the opening of 14 new WA branches over the next two years. Suncorp's Group Executive of Retail Banking David Foster, said the move ...Commonwealth Bank not looking to buy insurer
In a statement issued to the ASX on Friday, the Commonwealth Bank of Australia denied it is seeking to purchase an Australian Insurer.CBA group executive ...Mike Wilkins appointed as new IAG CEO
Insurance Australia Group today announced the resignation of Michael Hawker from his position as CEO.Mr Hawker said: “It’s with great personal regret that I have ...ASIC acts on GE Money's Insurance Practices
The Australian Securities and Investment Commission has imposed conditions on the Australian financial services license (AFSL) of GE Money’s Hallmark General Insurance Company Ltd and Hallmark ...Zurich sells advisory group
Zurich Financial Services Australia today announced that it had sold it's advisory group Financial Lifestyle Solutions (FLS) to ING owned Millenium3 Financial Services.As part of ...QBE withdraws IAG offer
After several weeks of unsuccessful negotiations with IAG, QBE has withdrawn it's merger proposal.QBE Insurance group has stated that they are aware that their offer was ...Insurance Ombudsman Service to be replaced
ASIC today announced that it would be replacing the Insurance Ombudsman Service (IOS) with a new Financial Ombudsman Service (FOS). The new FOS would be ...QBE adds another $1 Billion to its offer
QBE today announced that it would increase it's offer for rival insurer IAG to $8.7 Billion. This third offer, $1 Billion above the initial terms presented, ...
The Industry now available on your phone or blackberry
The Industry is pleased to announce that our website is now available on any web enabled mobile phone, blackberry or PDA. Simply point your browser to ...Vero steps in after Beechwood collapse
Construction company Beechwood homes was placed into voluntary administration by directors earlier this week. This has resulted in much uncertainty for over 300 families unsure of ...
Health insurers raise concern over coming federal budget
The Australian government has made public it's plans to increase the Medicare Levy threshhold. Treasurer Wayne Swan has stated that one of the changes to ...Log in
- Community groups to benefit from ASIC ruling
- IPART recommends tax overhaul
- Finally, A Lead Management System Built For Insurance Brokers - PR Web (press release)
- FDIC announces 10th bank failure of the year - CNNMoney.com
- Insurance Website Link Exchange for Resources and Promotion - PRLog.Org (press release)
jacqui
on
27 October, 2008
will be interesting to see if treasury accept this recommendation.
If they do, i''d also like to see whether insurers see it as an opportunity to ...
jacqui
on
07 October, 2008
great to see this finally happening