ASIC has released for public comment Consultation Paper 284 – Example Statement of Advice for life insurance: Update to RG 90 which contains ASIC’s proposals for updating Regulatory Guide 90 Example Statement of Advice: Scaled advice for a new client (RG...
The current Corporations Act 2001 (Cth) (Corporations Act) and Corporations Regulations 2001 (Cth) (Corporations Regulations) regime for life risk insurance conflicted remuneration is set to change. The reforms are designed to: address issues in the quality of advice...
The Terrorism Insurance Act 2003 – Risk Retention Direction 2017 was made under the Terrorism Insurance Act 2003 (Cth) and registered on the Federal Register of Legislation on 30 May 2017. It provides the Revenue and Financial Services Minister’s written...
ASIC has released Report 523 – ASIC’s Innovation Hub and our approach to regulatory technology for public comment. REP 523 provides an update on the work of ASIC’s Innovation Hub and outlines its approach to financial technology, regulatory...
APRA released Quarterly General Insurance Performance Statistics – March 2017. According to the statistics, in the year ended 31 March 2017: net earned premium increased 4.8%, from $30.3 billion to $31.8 billion; net incurred claims increased by 10.9%, from...
APRA released Quarterly Life Insurance Performance Statistics – March 2017. According to the statistics, in the year ended 31 March 2017: net policy revenue decreased by 1%, from $15.7 billion to $15.5 billion; net policy revenue recognised as a deposit...
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