Compensation for Loss in the Financial Services Sector - Position Paper |
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Date: |
Wednesday, 24 December 2003 | ||||
Content ID: |
774 | ||||
Abstract: |
This is the second paper in the Commonwealth’s review of compensation for loss in the financial services sector. The review was initiated to promote discussion on whether compensation mechanisms should be required in this sector and, if so, what they should cover and the appropriate mechanisms. The position put in this paper takes into account difficulties with the professional indemnity insurance market, and envisages flexibility in the mechanisms which may be adopted. It seeks to reach an appropriate balance between consumer protection and the cost of such protection to industry. The purpose of this paper is to pose a Government position and seek comments on further issues. |
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Documents Available: |
 Acrobat (PDF)Compensation for Loss in the Financial Services Sector 335.97kb HTMLPreliminaries 3.14kbForeword 2.71kb Abbreviations 4.04kb Introduction 11.35kb The Submissions 10.35kb Discussion 90.95kb The Government's Basic Position 4.96kb Issues for Consideration 5.36kb Attachment A: Public Submissions Received 1.75kb Attachment B: Summary of Submissions of Main Issues 70.17kb Attachment C: Broad Options Considered 27.55kb Attachment D: Insurance (Agents and Brokers) Act 1984 5.16kb Attachment E: Corporations Act 2001 - Section 912B 2.01kb |
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