Australian Insurance Law Association - it is worth joining

Have you ever thought about learning or keeping up to date with laws affecting Insurance?

Join the Australian Insurance Law Association (AILA)

In the Insurance Industry, nearly everything we do has a relationship with Laws relating to Insurance. Whether it is stipulating procedures we have to abide by in Insurance policies, APRA supervision, settling liability type claims or simply interpreting clauses in policies, the Law plays a big part.

You can keep up to date with all these changes simply becoming a member of AILA. Local branches provide monthly seminars or forums, there are regular Bulletins discussing recent changes or topics of interest and there is an annual conference where the best legal minds in Insurance present. It is another way to keep your CPD points up and get to know many people in the Insurance Industry let alone Insurance lawyers. And it is of little cost.

Join today on line. You will be very glad you did. Go to aila.com.au 
 

Latest News

Illegal or unsuitable cladding now a big issue

Why we have laws, regulations and Australian standards? Because some people just do the wrong thing all for the sake of making money. The cladding issue is the subject of 4 Corners program on the ABC.

We are already seeing Insurance policies now placing exclusion endorsements into their policies excluding and claims relating to illegal cladding. We are seeing Governments demanding Audits of all existing buildings above a certain height. There are accusations of Builders taking other short cuts such as on Wiring, Pipes and sprinkler systems. 

The question is, who is to blame? Who will take responsibility?

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Small business in NSW

Right after the NSW Government have reimposed Fire Service Levies, they have at least made an effort for small business. The government has announced it will abolish stamp duty on a number of policies taken out by a small business. This is an important change.

What is a small business? In order to gain the exemptions, the business must be a small business for Capital Gains Tax Purposes for the income year in which the insurance is effected or renewed. A small business for CGT purposes is: “an individual, partnership, company or trust that is carrying on a business, and has an aggregated turnover of less than $2 million.”

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