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General insurance

The Australian Prudential Regulation Authority (APRA) today announced the disqualification of Mr Ashraf Kamha from being, or acting as, a director or senior manager of a general insurer or authorised non-operating holding company (NOHC), or a senior manager or agent in Australia of a foreign general insurer, effective 20 March 2008. The announcement of Mr Kamha’s disqualification was deferred by APRA pending the resolution of other proceedings relating to the HIH Insurance group of companies (HIH).

The Australian Prudential Regulation Authority (APRA) has today released a consultation package on remuneration for authorised deposit‑taking institutions and general and life insurance companies. The package comprises a discussion paper, draft extensions to the governance standards already applying in these industries and a draft prudential practice guide (PPG).

The Australian Prudential Regulation Authority (APRA) today announced it has accepted an enforceable undertaking from former HIH Insurance Ltd chairman Geoffrey Cohen.

The Australian Prudential Regulation Authority (APRA) is inviting comment from a wide range of stakeholders on the level of interest in releasing liability insurance data from the National Claims and Policies Database (NCPD). The feedback will help inform APRA on what data should be released from the NCPD.

Australian Prudential Regulation Authority (APRA) disqualifications of Mr John Butler and Mr Alan Parsonson have been upheld by the Administrative Appeals Tribunal (AAT).

The Australian Prudential Regulation Authority (APRA) today released its Half Yearly General Insurance Bulletin which is compiled from audited annual returns from APRA-regulated general insurance companies for their financial years ending in the period 1 January 2008 to 31 December 2008.

The Australian Prudential Regulation Authority (APRA) today released the fifth set of annual reports on policies and claims for public and products liability (PL) and professional indemnity (PI) insurance from the National Claims and Policies Database (NCPD). These reports include information on policies and claims as at 31 December 2008.

The Australian Prudential Regulation Authority (APRA) has accepted enforceable undertakings from two former Zurich executives who were involved in transactions that misled APRA and auditors and resulted in company profits being falsely inflated.

The Administrative Appeals Tribunal (AAT) has set aside the disqualification of Mr Robert Reginald Stitt by the Australian Prudential Regulation Authority (APRA).

The Australian Prudential Regulation Authority (APRA) today released the final reporting standards that will apply to general insurance groups.

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