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Showing 1 - 10 of 13 results for "PII"

FEATURE | Regulation: Picking up the pieces

KARREN VERGARA  |  TUESDAY, 24 MAR 2026
... million may be divvied up across superannuation funds and SMSFs. He may also rope in the professional indemnity insurance (PII) sector. Mulino also promised to publish an options paper early this year on the post-implementation reform of the CSLR to ...

Shadow Minister for Financial Services Pat Conaghan resigns

ELIZA BAVIN  |  THURSDAY, 22 JAN 2026
... December he criticised Minister for Financial Services Daniel Mulino's suggestion that the professional indemnity insurance (PII) sector be made to play a bigger role in making the Compensation Scheme of Last Resort (CSLR) sustainable. "Right now ...

Mulino wants PII to step up to make CSLR sustainable

KARREN VERGARA  |  MONDAY, 15 DEC 2025
The professional indemnity insurance (PII) sector will be forced to play a bigger role in making the Compensation Scheme of Last Resort (CSLR) sustainable, Assistant Treasurer Daniel Mulino proposes, as the Opposition slams the scheme for "constantly ...

ASIC scraps Libertas' AFSL for unpaid compensation

KARREN VERGARA  |  TUESDAY, 20 AUG 2024
... 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 might not be "automatic" ...

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 ...

How advisers protect themselves from 'rogue' clients

KARREN VERGARA  |  FRIDAY, 23 FEB 2024
... 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" process. ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... 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. While this is ...

Inquiry criticises gaps in CSLR

KARREN VERGARA  |  MONDAY, 31 JAN 2022
... indemnity insurance to play a bigger role in the broader compensation framework. SMSFA chief executive John Maroney said that PII "is a vital component" for the long-term financial sustainability of the CSLR as it is essentially a mechanism for reducing ...

ANALYSIS: The rise of the periphery

LAURA MILLAN  |  MONDAY, 22 JUN 2015
When the global financial crisis broke, people dubbed them the PIIGS. Portugal, Italy, Ireland, Greece and Spain were the ugly ducklings of Europe. They had inefficient economies, had been relying on EU funding and were heavily indebted. Today, most ...

KRudd comeback biting

BENJAMIN ONG  |  THURSDAY, 23 FEB 2012
Now that Greece has again been relegated to a mere afterthought, the latest PMI update from Markit Economics reminded all and sundry that, Greece bailed out or not, a recession is still waiting in the wings in Europe. The Markit Economics preliminary ...
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