PLUS: A well-known assistance company boosts its Japanese offering; a brokerage opens an office in Myanmar, and reforms to a workers compensation scheme spell good news for businesses.
Assistant treasurer Arthur Sinodinos may have stood down over growing pressure about the ICAC anti-corruption case, but should he have been allowed to get on with the job of financial reform?
The man in charge of the Future of Financial Advice reforms and the Son of Wallis enquiry has stood down from his position having been embroiled in a corruption investigation.
Following on from Suncorp’s revelation that it is cutting flood insurance premiums, other insurers have confirmed to Insurance Business that they plan to do the same.
The Australian arm of one of the world’s biggest insurers saw growth of nearly 5% last year, bringing gross written premium close to $4bn.
The financial services regulator is casting a careful eye over the sale of certain insurance products, keen for Australia not to endure the mis-selling scandal that continues to plague the UK.
Groups are calling for a high liability sector to be insured after a professional was sued for $6.6m, and brokerages say they may consider it.
A group of insurance businesses have secured a three year-deal with the Federal Government – with an brokerage taking a central role in providing services.
The Liberal Government is set to overturn a key plank of the Future of Financial Advice legislation in an attempt to ease the administrative burden on brokers.
A major brokerage has secured a five-year deal with a government insurance scheme.