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FSLAA regulations and other recent changes

This week a slew of regulations were released, most of which will come into force on 15 March 2021, the start date of the Financial Services Legislation Amendment Act 2019 (FLSAA). We take you through the ma...
MBIE publication of FLSAA regulations

Various regulations to support the Financial Services Legislation Amendment Act 2019 and other recent legislation changes have been published today. Most of the regulations give effect to decisions that have previously been annou...
‘Perfect storm’ blows insurance industry off co...

Australian general insurers are facing a “perfect storm” of challenges that has put the industry on an “unsustainable trajectory”, a new report from Oliver Wyman warns. The consultancy says the Australian in...
Questions we need answers for in NZ insurance

Looking back over the past 12 months, we probably all share the feeling that we have come through an annus horribilis, the worst of years. It was one in which everyone’s life was affected to some extent by lockdowns, job...
No relief in sight for property challenges

Property market conditions will continue to be challenging given ongoing COVID-19 related losses, potential natural catastrophe impacts and expected rising reinsurance rates in the January renewals, Marsh warns. The property market...
NZI disappoints advisers with PI decision

The announcement by NZI that it will restrict its professional indemnity insurance to FAPs with three or more advisers will impact hundreds of sole trading financial advisers says  Clinton Stanger , a member of  Insurance...
Australian industry leaders share 2021 predictions

As we approach the end of 2020, it has come time to look back at what was one of the most tumultuous years in recent history – and to look forward to what the new year holds in store for Australian insurers. From the...
Cyber insurance response questioned after tumul...

Amid all of the impacts that the coronavirus pandemic has had on businesses, governments, and individuals, the turn to remote work and subsequent increase in cyber risks has been one of the key issues that, in turn, has revealed the...
CBL co-accused identity revealed

The identity of the co-accused in the fraud case linked to the collapse of insurer  CBL  has been revealed as Carden Mulholland, the firm’s former chief financial officer. The name suppression order for Mulholland,...
Earthquake class action launched

Owners of quake-damaged homes in the Canterbury region have launched a class action, seeking full compensation from  Southern Response . According to a statement from Canterbury Homeowners Class Action, it aims to help 3,000...

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