APRA releases quarterly private health insurance statistics for September 2018

The Australian Prudential Regulation Authority (APRA) today released its quarterly private health insurance publications for the September 2018 quarter.
The publications provide industry aggregate summaries of key financial and membership statistics for the private health insurance industry.
Key performance statistics for the industry in the year ended:
September 2017 September 2018 Change
Premium revenue $23.30 billion $24.07 billion 3.31%
Fund benefits $19.72 billion $20.43 billion 3.62%
Net profit after tax $1.43 billion $1.41 billion -1.37%
Total assets $13.60 billion $14.09 billion 3.61%

 
Key ratios for the industry in the year ended:

September 2017 September 2018 Change
Gross margin 14.41% 14.15% -0.26pp
Net margin 5.52% 5.18% -0.34 pp

 
Copies of the September 2018 quarterly publications are available on APRA’s website at: https://www.apra.gov.au/publications

On Closer Inspection 360-degree interactive experience

New interactive digital experience lets users inspect a First World War tank inside and out
Today the Australian War Memorial launched the first in a new series of immersive digital experiences that will allow users to explore the workings of large technology objects in the Memorial’s collection.
To coincide with the 100th anniversary of the end of the First World War, a 360-degree interactive video of the Mark IV tank “Grit” is now available online. Grit was manufactured in Britain and came to Australia to help raise funds during the First World War . It is currently on display in Anzac Hall.
Through the use of 360-degree digital video and virtual reality technology, users can view and explore Grit, inside and out. Visitors can click on pop-up icons to see archival photos, watch videos, hear audio recordings, and uncover the stories behind the Mark IV tank – a machine that played an important role in our military history.
Memorial Director Dr Brendan Nelson said the power of these digital experiences is in the stories they enable us to tell.
“Here at the Australian War Memorial, surrounded as we are by artefacts and relics, our responsibility is to tell the stories of the men and women that stand behind the equipment we proudly display,” said Dr Nelson.
“This project ensures Australians in remote parts of the country who can’t physically visit us at the Memorial can now, whether on a portable device or a desktop device, inspect these large technology objects and have a tank brought to life before their very eyes.”
phone image
MK IV tank experience on a smart phone.
The series of immersive digital experiences, called On closer inspectionis being developed by the Australian War Memorial in partnership with Leidos Australia. Two versions have been created to make the experience accessible to as many Australians at possible: one using React 360 VR technology, and one for YouTube 360.
Chief Executive of Leidos Australia Christine Zeitz said the development of digital interactive experiences aligns with the company’s vision.
“This digital project provides another channel where people can access the history and the stories of Australians at war,” said Ms Zeitz.
“Partnering with the Memorial to ensure that our history is shared with everyone, especially younger generations, is something Leidos and I are passionate about.”
Over the next two years the Memorial will deliver four more 360-degree immersive experiences as part of On Closer Inspection:

  • The Avro Lancaster B1 ‘‘G for George” from the Second World War
  • HMAS Sydney (IV), deployed in the First Gulf War
  • A Lockheed Hudson bomber from the Second World War
  • A Bushmaster Australian Army Protected Mobility Vehicle

Morrison Government puts telco consumers first

The Morrison Government has today announced 32 recommendations to further protect telco consumers.
The recommendations are contained in Part A of the Consumer Safeguards Review which include strengthening the Australia’s Telecommunications Ombudsman. The findings also look to improve the handling of customer complaints and increase the transparency of complaints data to drive the telco industry toward improved customer service.
The three part review, announced in April 2018 examines how to better protect telco customers in a landscape that has seen massive change over the last two decades. Twenty years ago, approximately 35 per cent of Australian homes had a broadband connection. By 2020, 100 per cent of homes will be able to connect through the NBN.
Minister for Communications Mitch Fifield said the Morrison Government was putting consumers first.
“The consumer safeguards we have in place today are designed around the old telephone network. The ongoing relevance and usefulness of these protections is diminishing as Australia’s telecommunications environment and consumer use evolves” he said.
Today’s Part A Recommendations: Consumer Redress and Complaints Handling will strengthen the Telecommunications Industry Ombudsman (TIO) by improving its governance, operations and relationship with the telco regulator, the Australian Communications and Media Authority (ACMA).
The consultation paper for Part B: Reliability of Telecommunications Services was also released today and submissions are due by 21 December 2018. Part B of the Review is based on the fundamental principle that all Australians should be able to connect to, and stay connected to, a reliable fixed service.
“Broadband is now considered as essential as electricity or water. Consumers expect to get connected and stay connected, and if something goes wrong, it needs to be fixed and fixed quickly”.
Part C of the consumer safeguards review will look at choice and fairness in the retail relationship between the customer and their provider. The consultation paper will be released in early 2019.
The full report and recommendations from Part A (redress and complaints handling), and the Part B discussion paper (service reliability) are available at: www.communications.gov.au/consumer-safeguards-review

Have your say on telecommunications services

A new consultation paper with proposals for modern reliability safeguards for telco services in Australia has just been released as part of our ongoing Consumer Safeguards Review
Australians depend on reliable access to telecommunications services to stay connected with family and friends and to do business.
We expect getting connected to a service to be easy and that the service is reliable. When this is not the case, we expect simple and easy-to-navigate safeguards to help fix connection problems.
The review is examining the protections offered to consumers so our telecommunications framework is suitable for all Australians into the future.
We are seeking input on a number of proposals designed to improve the reliability of fixed voice and broadband services, including:

  • New rules enforcing maximum timeframes for connections and repairs and encouraging telco providers  to keep the connection and repair appointments they make
  • Requirements to focus on keeping consumers connected to a service if maximum timeframes cannot be met
  • Requirements for network operators to publish reliability metrics to help consumers make informed decisions.

You can provide your feedback by 21 December 2018 through the Have Your Say webpage.
Find out more:
Read the Minister’s media release

PARTNERSHIP TO RESEARCH HIGH SPEED FLIGHT

A new collaboration agreement between DST and the University of Queensland has been established to undertake advanced research in flight science and enabling technologies.

The $10 million agreement will see the consolidation of both parties’ test facilities to leverage the expertise of academic and industry researchers and international partners.
Professor Richard Morgan, the University of Queensland’s Director of the Centre for Hypersonics, has been appointed to provide expertise in the development and operation of advanced large-scale test facilities and facilitate closer collaboration under the agreement.
In 2017, Professor Morgan became the only non-US scientist to have received a hypersonic systems and technologies award from the American Institute of Aeronautics and Astronautics.
Australia is a world leader in high speed flight science with over 10 years of joint flight experimentation by DST, the University of Queensland and industry.
High-speed flight science is one of the priority areas to be developed under the Next Generation Technologies Fund, a program focussing on research and development in emerging and future technologies.

OPV construction commences

In a momentous day for Australia’s national shipbuilding endeavor, construction has commenced on the Navy’s new Offshore Patrol Vessels at Osborne in South Australia.
The Minister for Defence, the Hon Christopher Pyne MP, said the multi-billion dollar project will see 12 OPVs delivered.
The OPVs will have an important role protecting our borders and will provide greater range and endurance than the existing patrol boat fleet.
“The OPV project is expected to create up to 1000 direct and indirect jobs,” said Minister Pyne.
The first two vessels will be built at Osborne before Civmec starts constructing the next 10 at Henderson in Western Australia.
Minister Pyne said ASC Shipbuilding will use its expertise gained through the Air Warfare Destroyer program to build the first two OPVs.
“These new vessels are being built in Australian facilities, with Australian steel, and by Australian workers.”
“Only a year ago we announced Lürssen was the preferred tenderer.”
“It’s a fantastic achievement to start construction on time and on budget and I’d like to thank everyone involved in the project.”
The Government’s $90 billion dollar continuous naval shipbuilding program is the largest and most ambitious capital investment ever undertaken in Australia.
“This investment is about more than building ships, submarines and shipyards because it will establish an Australian sovereign capability.”
“The continuous shipbuilding program will act as a catalyst for industry growth which will secure thousands of Australian jobs for decades.”
“This is truly a national endeavour, with the Federal Government laying the foundations for an Australia-wide sovereign naval shipbuilding enterprise.”
The OPVs will be built using Australian steel, creating Australian jobs. The steel used today in construction is from the same batch cut by the Prime Minister in Henderson just a few weeks ago, demonstrating the Government’s commitment to the naval shipbuilding program and Australian jobs.
“Our commitment ends the boom-bust cycle which has afflicted the Australian naval shipbuilding and sustainment industry in the past.”
The Minister for Finance and the Public Service, Mathias Cormann said that ASC’s shipbuilding capacity has continued to grow from strength to strength since the Government initiated the Air Warfare Destroyer reform program in 2014.
“Over the past few years ASC has demonstrated its capacity to deliver high quality vessels for the Royal Australian Navy.
“ASC’s workforce has already delivered two state-of-the-art Air Warfare Destroyers, with a third due next year. They are also exceeding their performance benchmarks in support of our Collins Class submarine fleet.”
“We look forward to ASC continuing their strong work on the first two Offshore Patrol Vessels that begin construction today.”

Mint 2018 Holiday Season

The Holiday season is just around the corner. Don’t forget to visit our online store or phone our Contact Center to place your orders on time. You can pick up a range of beautiful coins, collections and stocking fillers.
To ensure delivery for domestic locations prior to Christmas, orders must be placed by Friday 07 December 2018. International orders must be placed by Friday 30 November 2018.

Man charged after firearms located during vehicle stop in the Hunter

A man has been charged with drug and firearms offences, which arose from a vehicle stop in the Hunter region last night.
About 8pm (Wednesday 14 November 2018), officers from the Criminal Groups Squad’s Strike Force Raptor North stopped a vehicle on Newcastle Road, New Lambton, and spoke with the 23-year-old female driver and a 23-year-old male passenger.
Officers removed the man from the vehicle and located a .22 calibre single-shot revolver in his waistband.
Following a subsequent search of the vehicle, police located and seized a homemade 12-gauge shotgun, 12-gauge cartridges, .22 calibre ammunition, and a shotgun barrel.
The pair was arrested and taken to Waratah Police Station, where the man was served a Firearms Prohibition Order (FPO).
During a subsequent FPO search of a New Lambton home, investigators seized further ammunition, and methylamphetamine, cannabis, suspected steroids, prescription medications, and cash.
The man was charged with 10 firearms offences, supply prohibited drug, and possess prohibited drug.
He was refused bail to appear at Newcastle Local Court today (Thursday 15 November 2018).
The woman was released pending further inquiries.

NSW Police to retain Newcastle Airport role

New South Wales Police will retain policing operation duties when Newcastle Airport begins international operations later this month.
From Thursday 22 November 2018, Newcastle Airport Pty Ltd (NAPL) will introduce Virgin Australia flights between Australia and New Zealand three days a week.
The 13-week arrangement is due to continue until Sunday 17 February 2019.
The Port Stephens-Hunter Police District has been working closely with the airport, Royal Australian Air Force (RAAF), Australian Federal Police (AFP) and Australian Border Force (ABF) to prepare for the changes.
Despite the introduction of international flights, Port Stephens-Hunter Commander, Detective Superintendent Craig Jackson, said the responsibility for policing will remain with NSW Police.
“The airport’s classification has moved from category three to category two, but it’s not deemed a “designated” facility, so there’s no requirement for the Australian Federal Police to staff the airport,” Det. Supt Jackson said.
“However, the AFP has started training local NSW officers to deal with international crime detection and the prosecution of offences under state and federal legislation,” he added.
“There are new areas of policing for us to consider, relating to importation, immigration and aviation offences, as well as the airport’s own procedures.”

Man charged, cannabis plants seized – Swansea

A man has been charged after police executed a search warrant and located hydroponic cannabis set-ups near Lake Macquarie.
At 8.30am on Wednesday 14 November 2018, officers from Lake Macquarie Police District executed a search warrant at a property on Kahibah Street, Swansea.
Police will allege they located hydroponic set-ups and seized cannabis plants from three rooms in the house.
A short time later, police attended a property on John Fisher Road at Belmont North where they seized cannabis plants before arresting a 37-year-old man and taking him to Belmont Police Station.
He was charged with cultivate prohibited plant and granted conditional bail to appear at Belmont Local Court on Wednesday 28 November 2018.