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STAMP DUTY – BE AWARE, BE PREPARED. 12 Dec 2019
Often the last thing on a Buyers mind when completing a new acquisition is the need to pay stamp duty. But pre-transaction, when buying assets such as a new client portfolio or book/list, stamp duty is assessed based on the location of the assets purchased and the purchase price paid. Genera ..
WILL A DEFERRED SALES MODEL SPELL THE END FOR ADD ON INSURANCE? 25 Nov 2019
The Royal Commission recommended that Treasury lead a working group to develop an industry-wide deferred sales model (DSM) to be implemented as soon as possible. The situation so far Treasury released a Proposal Paper which proposed an industry-wide 4-day DSM with three tiers of regulat ..
INSURANCE ALTERNATIVES: PART 4: DISCRETIONARY MUTUALS. 19 Nov 2019
In our final post in this series on insurance alternatives, we outline the ultimate peer-to-peer insurance alternative – discretionary mutuals. What is a discretionary mutual? A discretionary mutual is a structure that offers discretionary risk protection to its members. Discretion ..
INSURANCE ALTERNATIVES: PART 3: AGGREGATE DEDUCTIBLE FUNDS. 04 Nov 2019
Aggregate deductible funds (ADFs) are becoming a more common type of insurance alternative for buying groups who are looking for new ways to manage their risks. What is an aggregate deductible fund? An ADF is a self-insurance pool that is often used by corporate or community group ..
INSURANCE ALTERNATIVES: PART 2: PARAMETRIC INSURANCE. 11 Oct 2019
Following on from our last post (https://www.thefoldlegal.com.au/blog/the-rise-of-insurance-alternatives-part-1-an-overview) about insurance alternatives, in this post we outline what parametric insurance is and how it can help you in a hardening insurance market. What is parametric insuran ..
THE RISE OF INSURANCE ALTERNATIVES: PART 1: AN OVERVIEW. 01 Oct 2019
The insurance market is hardening which means customers can’t always find traditional insurance solutions for their risk. This has increased demand for insurance alternatives with greater flexibility and a wider range of solutions for ‘hard to place risks’. This is the first in a four part  ..
DON'T BE BLOWN OFF YOUR FEET BY THE NEW WHISTLEBLOWER PROTECTIONS. 06 Sep 2019
New whistleblower protections expand who is protected and what they can disclose. This regime applies to regulated companies and financial service providers including banks, life companies, general insurers and superannuation funds. More people are now protected whistleblowers  ..
THE FOLD BOLSTERS ITS TEAM WITH PROMOTIONS & NEW ADDITIONS. 01 Aug 2019
We’re delighted to announce that Simon Carrodus (https://www.thefoldlegal.com.au/people/simon-carrodus), who joined The Fold in early 2018, has been promoted to Solicitor Director. Simon leads our wealth management practice, and whilst many know him for his colourful analogies and straight-talk, ..
ROYAL COMMISSION RESPONSE: ADD-ON INSURANCE. 08 Jul 2019
Add-on insurance has already come under intense scrutiny and regulatory action. In the latest blog (https://www.finity.com.au/2019/07/04/add-on-insurance) in our Royal Commission response series with Finity we look at the likely regulatory approach to add-on insurance, including the regulation o ..
5 REASONS ASIC WILL REJECT YOUR LICENCE APPLICATION. 03 Jul 2019
ASIC rejects 30% of AFS licence applications and 24% of credit licence applications. In this article, we explain why it rejects applications and give you tips on how to avoid becoming a statistic. In 2017/2018, ASIC approved just 40% of all Australian financial services licence (AFSL) applic ..
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