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Insurance Flashlight Blog

Articles: 1-10 of 39

ASIC seeks further powers to provide directions to licensees

Australia - November 14 2017 The ASIC Enforcement Review Taskforce (Taskforce) is seeking to expand ASIC’s powers to give directions to financial services and credit licensees…

ASIC seeking to enhance banning power

Australia - September 13 2017 The ASIC Enforcement Review Taskforce (Taskforce) is seeking to enhance ASIC’s banning powers, to ensure ASIC can take action to ban senior managers…

ASIC consults on add-on insurance reforms

Australia - August 30 2017 ASIC is seeking feedback on proposals to reform the sale of add-on insurance through car dealerships. Consultation Paper 294 sets out ASIC’s approach…

CCI sales process to be overhauled

Australia - August 4 2017 ASIC has recently announced the establishment of a Consumer Credit Insurance (CCI) Working Group, who have been tasked with improving outcomes for…

Policy interpretation comes down to the “natural and ordinary meaning”

Australia - August 3 2017 A recent judgment from the Victorian Supreme Court’s Insurance List, Guastalegname v Australian Associated Motor Insurers Ltd [2017] VSC 420…

CFMEU says thousands of Australian buildings are clad in non-conforming cladding

Australia - July 26 2017 The CFMEU has made explosive comments at a recent hearing of the senate inquiry into non-conforming building products. In his testimony earlier this…

Breach reporting obligation repealed for group purchasing bodies

Australia - July 14 2017 Group purchasing bodies (GPBs) are no longer required to report breaches of the conditions of relief provided by ASIC Class Order 08/1 (Class Order)…

Call for extension of conflicted remuneration ban

Australia - July 12 2017 The ban on conflicted remuneration should extend to the general insurance industry and to all life policies, regardless of whether the policy was…

CPA’s woes worsen - with members’ limited liability at risk

Australia - July 11 2017 As heads continue to roll at the CPA, there is more bad news afoot for CPA members. On 7 October 2017, all public practitioner members of the CPA will…

ASIC industry funding model introduced

Australia - June 21 2017 Late last year the Government announced it would introduce an industry funding model for ASIC (our previous update on this can be found here). The…