Shorten releases KFS paper
Yesterday financial services and super minister Bill Shorten released the discussion paper Key facts sheet (KFS): home building and home contents insurance policies . The government seeks public...
View ArticleEditorial team
Editor: Eva Wiland. Email eva.wiland@thomsonreuters.com. Contributing editor: Kate Tilley. Journalist: Nicole Sosnowski. Managing Editor: Helen Jones. Product code: 134001763
View ArticleDamages awarded for late payments
The Qld Supreme Court has ruled a property investment finance provider is entitled to receive interest on late payments made by unnamed Lloyd's syndicates. Oakland Investments (Aust) Ltd held two...
View ArticleSwiss Re reports income increase
Swiss Re has reported net income of $US2.6bn ($A2.4bn) for 2011, up from $US863m ($A801m) in 2010. Its property & casualty operating result declined 48.1% to $US1.3bn ($A1.2bn). Life & health...
View ArticleICA to build 'shared understanding'
The insurance industry needs to do a better job of educating the public and policymakers about insurance, ICA president Rob Scott told ICA's 2012 regulatory update in Sydney last week. He said ICA...
View ArticleDamages awarded for late payments
The Qld Supreme Court has ruled a property investment finance provider is entitled to receive interest on late payments made by unnamed Lloyd's syndicates. Oakland Investments (Aust) Ltd held two...
View ArticlePeople
Jardine Lloyd Thompson Pty Ltd has appointed Ben Crabtree manager of its M&A division. He has nine years' experience in the M&A insurance sector … Curwoods Lawyers has appointed Emma O'Connor a...
View ArticleCorrection
CN articles entitled IAG issues CPS shares to raise $350m ( CN 1766 ) and IAG insurance profit down 73.4% ( CN 1762 ) incorrectly calculated a 73.4% fall in IAG's insurance profit. The correct...
View ArticleUK asbestos case reaffirms stance
Lawyers say the UK Supreme Court's mesothelioma decision is in line with Australia's approach to policy trigger points and will bring clarity to European and North American insurers and reinsurers. A...
View ArticleSPAA warns of 'perfect ECT storm'
SPAA warns ATO's newly released Excess Contributions Tax (ECT) Statistical Report reinforces the potential of a "perfect storm" when the concessional contribution cap for investors aged 50 and over...
View ArticleAust/NZ super funds in collateral deal
JP Morgan Worldwide Securities Services (WSS) has been appointed to provide end-to-end third party derivatives collateral management for four super funds - AustralianSuper with $A42bn in assets under...
View ArticleNDIS priority for May budget?
Australia's peak body for non-government disability services, National Disability Services (NDS), anticipates the national disability insurance scheme (NDIS) will be funded in the May 8 federal budget,...
View ArticleQBE exits record claims year
QBE had conducted several "remediation activities" after its catastrophe claims reached record levels in 2011, CEO-in-waiting John Neil ( CN 1763 ) told the AGM this week. Claims costing $1.7m were...
View ArticleGI most complained about service
General insurance (GI) is the UK's most complained about financial service, UK Financial Services Authority 2H2011 complaints data shows. Total complaints increased 21% from July to December 2011 to...
View ArticleAAMI Business site reports success
AAMI Business Online has attracted more than 100,000 business inquiries from its site in its first year, Suncorp said this week. The portal had been "highly successful". Its 24/7 online availability...
View ArticleAGEST in tech deal with GBST
The Australian Government Employees Superannuation Trust (AGEST) this week entered an agreement with global financial services technology company GBST to provide after-tax benchmarking and performance...
View ArticleLloyd's records 2011 loss
Lloyd's has blamed natural disasters for a record 2011 loss of $A768m ($US800m). Lloyd's incurred $A19.7bn ($US20.6bn) in total net claims in 2011, including $A7bn ($US7.4bn) in catastrophe claims,...
View ArticleDirectors less pessimistic re D&O
Since November, Australia's directors have become less pessimistic about the adequacy of their businesses' D&O insurance, this week's Australian Institute of Company Directors (AIDC) sentiment...
View ArticleCourt dismisses winemaker's appeal
The Federal Full Court has dismissed a De Bortoli Wines Pty Ltd (DBW) appeal, saying it was not entitled to compensation from HIH's liquidators. DBW bought nearly 20m HIH shares in 2000 for $7.1m. The...
View ArticleDiary
Melbourne, April 30, May 1: Actuaries Institute financial services forum. Go to www.actuaries.asn.au/FSF2012
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