Newsletters
Self Insurance Newsletter October 2009 – Comcare moratorium to continue
The Safety, Rehabilitation and Compensation Act 1988 (SRC Act) and the Occupational Health and Safety Act 1991 (OHS Act) set the framework for the Comcare scheme. In January 2008 the Minister for Employment and Workplace Relations, Julia Gillard, announced the terms of reference for a review of the self-insurance arrangements under the Comcare scheme. A moratorium on new declarations of eligibility to apply for self-insurance licences was declared to enable the review to take place.
Posted: October 1st, 2009, Filed under: Self Insurance Newsletter, Newsletters
Health Commission Final Report – Major Changes for Private Health Insurance
The National Health and Hospitals Reform Commision (NHHRC) recently produced its final report. While much of the content of the final report was previewed in the interim report, there would have been suprises for some readers, particularly private health insurers.
This article provides an overview of issues relevant to Private Health Insurance (PHI), and discusses the possible impact on insurers of implementing the proposals. We also discuss what insurers should consider doing now in response to the report.
Posted: August 31st, 2009, Filed under: Topical Features, Newsletters
NZ Solvency requirements – a practical APRA lite approach…
The Reserve Bank of New Zealand has released draft Solvency requirements for non-life insurers. The purpose of this note is to outline the key aspects of the draft standard, and suggest what insurers should be doing to assess their position.
Posted: July 31st, 2009, Filed under: Topical Features, Newsletters
New Zealand insurance meets Prudential Regulation
Insurance companies in New Zealand are preparing for the introduction of a new system of prudential regulation. The purpose of this note is to outline some of the key requirements and discuss the implications for individual compaines and the market.
Posted: June 30th, 2009, Filed under: Topical Features, Newsletters
Self Insurance Newsletter May 2009 – Global Financial Crisis
The Global Financial Crisis (GFC) has resulted in a global economic slowdown although there is significant uncertainty about the duration and the severity of the downturn. Recent volatility in financial markets has had – or will have – a significant impact on the financial results of most self insurers for the reasons outlined below.
Posted: May 1st, 2009, Filed under: Self Insurance Newsletter, Newsletters
Global Risks Report 2009
Below we summarise the key findings of the latest Global Risks report. While the risks often differ in nature to those faced by Australian insurers, they are worth exploring to:
-find direct implications for managers and directors of Australian insurers so they may benefit in their management and oversight of their businesses
-identify the global risks that may be possible sourses of external shock for insurers
Posted: March 31st, 2009, Filed under: Topical Features, Newsletters
The Global Financial Crisis and Australian General Insurers – The Calm Within the Storm?
General insurance has always operated fairly independently of the ‘boom and bust’ parts of the Australian exonomy like mining or housing development. while there have been cycles and crises in general insurance, on the whole these have not been driven by the broader economic cycle.
The Global Financial Crisis (or GFC) is different however. All the experts say it is worse than anything they have seen and, as this is written, we do not know if the worst is behind us or is still ahead. We suspect that it is ahead.
This short note canvasses some of the key impacts of the GFC on general insurers in Australia and shares some thoughts on how to plan and react in these uncertain times.
Posted: February 28th, 2009, Filed under: Topical Features, Newsletters
Australian Private Health Insurers and The Global Financial Crisis – a healthy future?
You will have seen a Finity article on the impact of the Global Financial Crises (“GFC”) on the general insurance industry – “The Global Financial Crisis and Australian General Insurers – the Calm Within the Storm”. In this article we look at the Private Health Insurance markey: what are some of the issues that PHI insurers might face?
Posted: February 28th, 2009, Filed under: Topical Features, Newsletters
Self Insurance Newsletter August 2008 – Comcare Self Insurance
Comcare is the Commonwealth Government’s workers’ compensation insurer. Commonwealth authorities can self-insure with Comcare if they satisfy certain criteria. Until recently, non-Commonwealth employers could also apply to self-insure under the SRC Act as long as they could demonstrate that they compete with a current, or former, Commonwealth government entity. This is termed the “competition test”. Once declared eligible an applicant must…
Posted: August 1st, 2008, Filed under: Self Insurance Newsletter, Newsletters
ISA – 20 Years of Achievement
ISA is an industry-bades voluntary organisation which provides statistics to give insight into industry performance drivers.
Posted: March 31st, 2008, Filed under: ANZIIF Journal Articles, Newsletters
