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Showing 121 - 130 of 206 results for "Indemnity"

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 ...

AAP offers PI insurance for independent advisers

LAURA MILLAN  |  WEDNESDAY, 27 AUG 2014
Centrepoint-owned Associated Advisory Practices (AAP) is offering a professional indemnity (PI) insurance product tailored for independent financial advisers. The solution was launched earlier this year and since then average renewal premiums have lowered ...

ASIC cracks down on advisers over PI insurance

LAURA MILLAN  |  THURSDAY, 7 AUG 2014
... Commission (ASIC) has cancelled seven Australian financial services (AFS) licenses that did not comply with professional indemnity (PI) insurance obligations. The review targeted licensees which had not requested a release of a security bond required ...

ASIC concerned about SMSFs, warns spruikers

LAURA MILLAN  |  THURSDAY, 17 JUL 2014
... The commissioner mentioned "inadequate or no evidence of RG146 training course," inadequate coverage of professional indemnity insurance, limited or no knowledge of the restricted scope of the 'class of product' advice authorisation and financial statements ...

Federal Court judgements contradictory on adviser liability

LAURA MILLAN  |  MONDAY, 7 JUL 2014
... Halsey noted that court rulings based on the WealthSure case will benefit financial advisers and their professional indemnity insurers, because it will likely limit their liability. Initially, WealthSure was held to be fully liable for the clients' entire ...

TPB open for TASA registration from today

LAURA MILLAN  |  TUESDAY, 1 JUL 2014
... definition of what is a tax financial advice service, additional requirements to comply with the TPB's professional indemnity (PI) insurance and continuing professional education for tax advisers. Video source: Tax Practitioners Board