Insurers will be forced to seek external market experts to improve risk management and be subject to “occasional less formal meetings” with the regulator.
The Aussie insurer has defended its latest financials and points to a more positive future.
Financial planners have been warned they could be banned if they offer poor advice on setting up an SMSF.
If any sector can convince the apprehensive uninsured customer to get cover, it’s brokers. So could the best way to tackle uninsurance be through broker schemes?
Insurers will rely heavily on brokers in attempting to comply with new APRA regulation, burdening them with even more responsibility.
While some industry players are using online platforms to place business, Lloyd’s Australia has found that brokers are fighting back by maintaining direct relationships with underwriters.
If you are particularly wary about who is scrutinising the data you send to insurer clients, proposed changes to confidential data could have you run for the hills.
Brokers should avoid taking ASIC head on and should look to co-operate with them instead
Online sales fastest growing distribution channel in six countries but churn rates climb
The Insurance Council of Australia (ICA) has unveiled its line-up of speakers and topics for the annual ICA Regulatory Update Seminar, which will include representatives from QBE, Suncorp and APRA.