Banking Royal Commission Report – in a nutshell

March 6, 2019

The Banking Royal Commission final report was released to the public on 4 February 2019. In the report, Commissioner Hayne has made 76 recommendations, some of which may have significant impacts across the banking, superannuation and financial services industry, and those who regulate it. While no individuals have been referred for criminal prosecution, the Commissioner has identified 22 entities as having engaged in possible misconduct. The report also recommends expanding enforcement powers for regulators and increasing penalties for law breakers. Given the endorsements received from both sides of Government to the majority of the recommendations, there is little doubt we will see swift legislative and regulatory action. See full article at https://www.gclegal.com.au/limelight-newsletters/banking-royal-commission-report-in-a-nutshell/

When does indemnity arise? Accrual of a cause of action for breach of contract under a property damage insurance policy

March 6, 2019

In a split decision delivered on 26 February 2019, the NSW Court of Appeal found that a cause of action for breach of a promise to indemnify under an insurance policy accrues at the time of the insurable event – even where a claim has not been made or has not been assessed. The majority of the Court of Appeal held that the limitation period for property damage insureds under policies promising to ‘indemnify’ for loss begins to run from the date of damage rather than at some later time when indemnity is denied or taken to have been refused. See full article at http://www.turkslegal.com.au/publications/when-does-indemnity-arise-accrual-cause-action-breach-contract-under-property-damage

sponsor
sponsor
sponsor
sponsor
sponsor
sponsor
sponsor

Events

Seminars organised by VCDG provide an opportunity for attendees to learn, network and engage in discussion whilst earning CPD/CIP points.

Upcoming Events →