The Australian Prudential Regulation Authority (APRA) released a letter to all life insurers, which provides guidance on its interpretation of Prudential Standard LPS 230 Reinsurance (LPS 230), including its “approach to considering applications for approval of...
Treasurer Scott Morrision and Revenue and Financial Services Minister Kelly O’Dwyer have jointly announced the commencement of the third and final stage of the Productivity Commission’s review into Australia’s superannuation system. The final stage...
The state government handed down the State Budget 2017-18 on 20 June 2017. In the Budget Speech Treasurer Dominic Perrottet stated that, under the state budget from 1 January 2018 “small businesses with a turnover of less than $2 million will be exempt from...
(Current as at 30 June 2017) BACKGROUND Group purchasing bodies (GPBs) are persons who arrange for the issue of or for a person to be covered by risk management products for others (general and life insurance products, but not general insurance arranged with an...
The Home Building Amendment (Compensation Reform) Act 2017 No. 28 (NSW) was assented to on 27 June 2017. The objects of the Act are to: enable insurance against loss arising from non-completion of residential building work or breach of statutory warranties for...
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