News Archive 2005

FSR Refinements Regulations issued
Posted 22.12.2005
Treasury has now issued the final version of the FSR Refinements regulations.
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Another Big Year - Now for the future
Posted 22.12.2005
As the national voice representing broking interests, NIBA continues to project a powerful presence, having successfully navigated members through the questions raised over recent year.
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Insurance professionals recognised
Posted 17.10.2005
Australia's top insurance professionals were recognised at an award ceremony at NIBA's 23rd National Convention at the Gold Coast yesterday.
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QBE wins General Insurer of the Year
Posted 17.10.2005
QBE Australia has won the National Insurance Brokers Association's (NIBA) General Insurer of the Year award for the fourth consecutive year.
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Stopping Unfair Taxes: Who will start the ball rolling?
Posted 3.10.2005
Over the past few years we've been fortunate enough to have people in positions of power who have been forces by circumstance to acquire...
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Newshot: NSW office of State Revenue Audit
Posted 2.09.2005
Background - As you are aware from previous newshots, NSW Office of State Revenue(OSR) is conducting an audit of payments of stamp duty (duty) andincome protection tax (tax) where the tax or duty has not been made by a registered insurer. As part of the audit OSR has written to all NSW general insurance brokers requesting information. NIBA has discussed with OSR the information requested of brokers and as a result OSR has modified its requirements. The modifications agreed upon are outlined in this newshot.
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Newshot: Office of State Revenue (NSW) Audit
Posted 25.08.2005
The Office of State Revenue (OSR) NSW Treasury is conducting an audit of all NSW insurance brokers in relation to the Insurance Protection Act and other taxes and charges. The Insurance Protection Act is designed to recover moneys spent by the NSW Government on HIH claimants. The tax is required to be paid by locally authorised insurance companies. The audit is focused on obligations in respect of insurance business placed overseas.
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From the Publisher: At last - No breaches found in ASIC probe
Posted 1.08.2005
It's taken sifting through truckloads of information for about half a year to find out, but the results were worth waiting for. Not surprisingly, NIBA was delighted to learn that ASIC's inquiry into broker remuneration in Australia cleared brokers of misconduct of the kind uncovered in the US insurance industry. When ASIC announced its campaign to examine remuneration practices between brokers and insurers it stated that 'most importantly we want to confirm that brokers are properly managing conflicts of interest of their clients
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Media Release: Competition driving down insurance premums
Posted 20.07.2005
Intensified competition between insurance companies is significantly driving down premium rates, according to the latest survey by the National Insurance Brokers Association.
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Newshot: Members who may be affected by the flooding in NSW & QLD
Posted 1.07.2005
If your clients are caught up in the flooding you should note the following points before advising them to act on repair work to minimise further loss.
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