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Showing 21 - 30 of 203 results for "Indemnity"

ASIC scraps Libertas' AFSL for unpaid compensation

KARREN VERGARA  |  TUESDAY, 20 AUG 2024
... correctional order, including home detention. CSLR chief executive David Berry recently warned AFSLs and their professional indemnity insurers (PII) that fail to pay a determination under the scheme will see their licence revoked. While the cancellation ...

AFSLs can lose licence on CSLR intervention

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2024
AFS Licensees (AFSLs) and their professional indemnity insurers (PII) that fail to pay a determination will potentially see their licence revoked if the Compensation Scheme of Last Resort (CSLR) has to intervene. CSLR chief executive David Berry warned ...

Keybridge Capital cops another loss against WAM

ELIZA BAVIN  |  FRIDAY, 7 JUN 2024
... accepted authority, the making of an order that the respondent's costs of and incidental to the appeal be paid on an indemnity basis," the court said.

How advisers protect themselves from 'rogue' clients

KARREN VERGARA  |  FRIDAY, 23 FEB 2024
... from the client relationship] but it's particularly setting you up to protect against an AFCA complaint, professional indemnity insurance complaint (PII), or even an ethics complaint," he said. Every three years, advisers should offer clients a "re-onboarding" ...

AMP revamps Jigsaw Advice Solutions

JAMIE WILLIAMSON  |  THURSDAY, 14 DEC 2023
... support. Advisers can also access a buyer's agent referral service, as well as a debt advice solution. Professional indemnity and cyber insurance is also available. In crafting the offering, AMP has partnered with a variety of service providers, including ...

ASIC strips institutional broker's AFSL

ANDREW MCKEAN  |  THURSDAY, 16 NOV 2023
... Australian Financial Complaints Authority (AFCA) and uphold its client compensation commitments, including professional indemnity insurance coverage. The institutional broker, formerly authorised to provide financial product advice and custodial services ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... Australian Financial Complaints Authority (AFCA) hands down a decision, using the excuse that they do not have professional indemnity insurance (PII). Out of 5400 decisions AFCA delivered in the 2023 financial year, there were 40 instances of non-compliance. ...

Advice practice valuations rise: Radar Results

KARREN VERGARA  |  FRIDAY, 9 JUN 2023
... for AFSLs, which, when dormant, can either be handed back to ASIC or sold to another party. Meanwhile, professional indemnity insurance can either be continued or commence on a new policy. Birt typically enlists lawyers to help with this process. Transfer ...

Adviser PI premiums up 40%: APRA

JAMIE WILLIAMSON  |  THURSDAY, 11 MAY 2023
The cost of professional indemnity insurance increased at least 40% for financial advisers since 2015, a new report from APRA shows. Reviewing claims trends and affordability of public liability and professional indemnity insurance in Australia, the ...

FPA voices concern on proposed CSLR, FAR laws

ANDREW MCKEAN  |  FRIDAY, 10 MAR 2023
... responsible managers of the entities resorting to the scheme. "We are also keen for the overdue review of professional indemnity insurance to be commenced. A properly functioning PI sector would substantially reduce the calls on a CSLR." The FPA also ...