Another industry body has questioned Federal Government calls for an insurance comparison website for strata-title and home and contents insurance.
The insurance broking industry is already expressing concern over a number of Budget measures, which may undermine the services of brokers while taking money away from important industry bodies.
Industry organisations have laid their cards out on the table for the Financial Systems Inquiry, stating that no amount of education will produce an informed consumer, and calling for relaxed regulation.
The broker's industry body says it is closely monitoring developments as the uncertainty over the repeal date of controversial legislation grows.
An insurance company has dropped premiums by as much as 30% and there is hope that other insurers will also cut their prices.
Yesterday Insurance Business reported on a group buying initiative headed up by a former insurance boss but the industry has slammed the move, demanding greater disclosure and accusing it of “spruiking nonsense”.
NIBA CEO Dallas Booth talks about ensuring brokers' relevance, insuring an insolvent company and taking on the legal fallout of HIH.
After 12 months of reviews and consultation, an industry body is set to release a new code of practice.
An insurer calls for the government’s reforms to take a deeper look at the surrounding issues and industry bodies voice their views as the debate over strata insurance intensifies.
A ‘root and branch’ review of the Australian financial system could also be a chance to look at risk management in the broader community, according to industry bosses.