Hello

There is plenty of news at the moment for insurance advisers to digest. One is a developing debate on professional indemnity insurance, and what and who is covered.

In addition to that there is the regulation issue. One of the new issues is that there is talk about Level Five on the National Qualifications Framework (NQF) as being the benchmark for adviser competency.

If you want to find out more information about the national qualifications framework then read on.

The organisation responsible for industry training in financial services is the ETITO. It is planning to hold some sessions on how the NQF works and what an Industry Training Organisation does, the purpose and structure of unit standards and national qualifications, and also how workplace assessment takes place.

While the final dates for these sessions are yet to be confirmed, the ETITO is proposing to hold these sessions in Auckland on Wednesday 20th May, Wellington on Thursday 21st May and Christchurch on Friday 22nd May.

If you are interested in attending please email amyo@etito.co.nz before Monday 11th May.

Insurance News

PAA, LBA dismiss PI concerns
Members of New Zealand's two main insurance-based advisory associations have not experienced any difficulties with their professional indemnity (PI) cover, in contrast to problems reported by the Institute of Financial Advisers (IFA) last week. More

IFA slates Lumley over PI
The Institute of Financial Advisers (IFA) has slammed insurance firm Lumley for unfairly rejecting the professional indemnity (PI) claims of many of the industry body's members. More

Diplock heralds single Australasian advisory market
Jane Diplock, head of the Securities Commission, has called for the trans-Tasman harmonisation of financial adviser regulations between New Zealand and Australia. More

Health insurance market is weathering the storm
The health insurance market appears to be weathering the global economic storm well, according to figures released by the Health Funds Association of New Zealand (HFANZ). More

People

Dave McMillan is moving on from the Professional Advisers Association and Peter Conroy has left TOWER to join another life office. More

Opinion: Russell Hutchinson

Folly, money and pain
JK Galbraith was attacked as a communist for his red covered book on the great crash of 1929 - an event my Grandfather recalls well. This is a good reminder that folly springs eternal in human affairs, especially with regard to the money, which happens to be how we keep score in so many of our affairs. More