2271-2280 of 2646 results
FCA declares insurer in breach of duty of utmost good faith
The Federal Court has declared that Youi Pty Ltd (Youi) breached its duty of utmost good faith under section 13 of the Insurance Contracts Act 1984 (Cth) (ICA) in relation to its handling of an insurance claim for damage to an insured's home. The decision is an important reminder of the broad scope and potential reach of the duty. ...
A win to litigation funders in employment class actions
A decision in a 'wage underpayment' class action (Simon Alexander Turner v Tesa Mining) examines the extent to which funders can be liable for costs in Fair Work Act proceedings. ...
APRA's revised Prudential Standard CPS 511 on remuneration frameworks and incentives for ADIs, superannuation funds and insurers
After 17 months of consultation and internal review, APRA has released its revised draft prudential standard on remuneration (CPS 511) seeking to regulate incentive structures across all APRA-regulated entities. ...
Federal court awards largest ever adverse action payout
A senior employee was awarded $5.2m after he was dismissed, with the Federal Court deciding his employer took adverse action against him and hence breached his employment contract. ...
Pandemic caused stoppage of work, says Federal Court in Qantas stand down dispute
The Federal Court has confirmed that government restrictions on travel and quarantine measures stemming from the COVID-19 pandemic caused a stoppage of work for the purpose of stand downs initiated by Qantas and Jetstar under their enterprise agreements. ...
Western Australia's WHS Act to introduce industrial manslaughter laws
Western Australia has joined the harmonised work health and safety (WHS) regime, in line with New South Wales, Queensland, South Australia, the Northern Territory and Tasmania. Victoria will continue to operate under a separate regime. The Work Health and Safety Act 2019 (WA) (the Act) passed through the Legislative Assembly on 3 November 2020. ...
In Touch: Digital Platform Services Inquiry Interim Report; ACCC commences proceedings against Agrison; Trivago loses its appeal in the Full Federal Court; and other developments
Digital Platform Services Inquiry Interim Report; ACCC commences proceedings against Agrison alleging false or misleading representations about warranties; appeal on Employsure case; Trivago's loses appeal; Compare the Market acquisitions of iSelect under review; ADT Security to refund customers and remove or amend unfair contract terms. ...
Your guide to the 'Your Future, Your Super' package reforms
Consultation is now open on the Government's 'Your Future, Your Super' package. As foreshadowed on Budget night, the package seeks to make three key changes to the current superannuation regulatory regime. ...
Federal Court holds Opal Tower defendant not entitled to be paid defence costs prior to determination on exclusion clause
Evolution v Chubb Insurance clarifies that unless a policy contains an advancement of defence costs provision (and subject to the particular terms of the policy), an insured should not assume it will be entitled to be reimbursed for defence costs as and when they are incurred if there is a debate with the insurer about the operation of an exclusion clause in respect of the third party claim brought against the insured. ...
A key landmark in IBOR transition
The long-awaited ISDA IBOR Fallbacks Supplement and Protocol will be going live today with the endorsement of ASIC, the RBA and APRA. They implement new benchmark fallbacks for both future and existing derivative contracts, facilitating the efficient transition from LIBOR and other IBORs in anticipation of their discontinuation. If you have a derivatives portfolio, the Protocol allows quick and easy adoption of the new fallbacks through a one-off adherence. That said, it may not be sufficient to cover all scenarios. ...