Weekend Update: Executive changes, 10,000 refunds and a major new office
Making news this week, one major Australian insurer announced a deal with the CEO of a key division of a big rival, a leading player will contact more than 10,000 customers to offer a refund and a new entrant announces further expansion.
Major player to refund over 10,000 customers
An ASIC surveillance investigation has led to one company contacting more than 10,000 customers across Australia to offer a refund for unneeded insurance premiums.
Weekend Update: New CEO deal, major chairman steps down and broker banned
Making news this week, a leading industry player announces a new deal for its CEO whilst the chairman of another major business announces his plans to retire and a NSW-based broker is banned by ASIC.
Industry body pleased with FSI response
Industry leaders have responded positively to the Government decisions surrounding the Financial Systems Inquiry.
Breaking News: Permanent ASIC ban for broker
ASIC has announced the permanent banning of one broker for a host of misconduct charges which saw excess fees of over $3 million charged.
Leading AR network in Aussie first
One of Australia’s largest AR networks has announced a “subtle but unique change” in a bid to recognise the professionalism of its brokers.
BREAKING NEWS: ASIC cancels broker licences
ASIC has announced that it has cancelled the AFS licenses of a broker and its related entities in underwriting and insurance services following a number of breaches.
WEEKLY WRAP: ASIC ban for life insurance adviser
PLUS: Ashley Madison dubbed the cyber liability ‘poster child’ and Disruptor lands US$33.3mn in fundraising effort led by international insurer.
Education expert calls on industry to ‘raise the bar’
An education expert has said that the insurance industry needs to ‘raise the bar’ when it comes to educating its employees as the industry offers ‘the cheapest, shortest and easiest’ diplomas they have seen.
ASIC funding under review
The Government has announced plans to review the funding structure of ASIC with a major change in the offing.