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Showing 111 - 120 of 201 results for "Indemnity"

ASIC spots PI insurance gaps

ALEX BURKE  |  TUESDAY, 15 DEC 2015
ASIC has completed its review of the professional indemnity insurance market for advisers in the eight months to June 2015. The report said the market is "stable and generally available," but there are gaps "between what ASIC expects and some of the ...

Xero inking partnership for real-time PI insurance

ALEX BURKE  |  THURSDAY, 13 AUG 2015
... accounting software company Xero is in talks with an insurer to provide data feeds to facilitate real-time professional indemnity insurance cover. Speaking to Financial Standard, Xero managing director Chris Ridd said that the real-time cover concept ...

Industry reacts to ASIC register update

ALEX BURKE  |  TUESDAY, 2 JUN 2015
... missing crucial information includes complaints and claims against advisers; the details of an adviser's professional indemnity insurance; and payment arrangements, including a percentage breakdown indicating how an adviser was remunerated last financial ...

Advice industry faces insurance quandary

ALEX BURKE  |  MONDAY, 4 MAY 2015
... is divided over how to fund an insurance scheme to compensate clients who receive bad advice. A rise in professional indemnity premiums is only compounding the problem. Senators Nick Xenophon and Sam Dastyari proposed a statutory financial advice victim ...

Wealthsure to cancel AFS licence

LAURA MILLAN  |  FRIDAY, 1 MAY 2015
... resolution system. WPL will also need to maintain membership of an external dispute resolution scheme, maintain professional indemnity insurance, maintain capital and notify all clients with an unresolved complaint about the changes.

Industry should help fund ASIC: ANZ

LAURA MILLAN  |  TUESDAY, 21 APR 2015
... I think [$30 million] is a solid estimate," Phillips said. During the hearing, Hodges highlighted that professional indemnity (PI) insurance for advisers should be higher so smaller practices can compensate clients if they provide improper advice. "Organisations ...

Buffett moves in on Australian insurers

ALEX BURKE  |  FRIDAY, 6 FEB 2015
... recently: BHSI New Zealand country manager Cameron McLisky (previously AIG Singapore head of financial lines), professional indemnity head Matthew Clarke (formerly AIG Asia-Pacific regional professional indemnity manager) and head of casualty Andrew ...

Financial services companies owe consumers $15m compensation

LAURA MILLAN  |  MONDAY, 2 FEB 2015
... total of 174 individuals are affected by unpaid compensations. The FOS questioned the effectiveness of professional indemnity (PI) insurance as a compensation mechanism. "PI Insurance is just not effective," the FOS said, and noted that "the FSI [Financial ...

MetLife partnership extend group insurance to SMEs

MARK SMITH  |  MONDAY, 3 NOV 2014
... survey by DBM Consultants found that while 90% of small businesses had public liability and nearly 40% had professional indemnity insurance, fewer than 10% had personal insurance. Research published by the Financial Services Council (FSC) and MetLife ...

ASIC demands last resort compensation scheme

LAURA MILLAN  |  MONDAY, 20 OCT 2014
... (MIS) and in its submission to the Financial System Inquiry (FSI). ASIC noted that the effectiveness of professional indemnity (PI) insurance "is limited where an AFS licensee is in external administration and more generally as a result of the limitations ...