The curious case of the Occidental and Regal : the evolution of solvency and disclosure standards in the Australian life insurance industry

In 1990, the Australian life insurance industry was rocked by a scandal that threatened to destabilize consumer confidence in the ability of insurance providers to meet policyholder liabilities. The incident highlighted the nature of the agency problems that arise when conditions of asymmetric information exist. It revealed systemic weaknesses in accounting, solvency and disclosure standards as they applied to life insurers. This article uses an evolutionary concept of agency to analyse government and industry responses to this event. It is argued that initial adaptive responses stabilized the industry and averted a more serious crisis. Longer term innovative responses led to the introduction of a new and more rigorous approach to reporting and solvency standards, which has improved information flows and agency outcomes.

Clinical risk managment and the ethics of open disclosure : part 2 : implications for the nursing profession

Patient safety experts and other authorities have strongly postulated the open disclosure of errors and adverse events to patients and their nominated support persons as an essential component of effective clinical risk management in health care. Commentators also contend that ‘when things go wrong’, openly disclosing such events to the patient is simply ‘the right thing to do’. Important questions about the ethics of open disclosure remain, however. Is openly disclosing errors and adverse events to patients necessarily ‘the right thing to do’? Do hospital authorities and health care professionals always have an overriding duty to openly communicate with patients and their families when thing go wrong? If patients do not suffer any material harm when a mistake is made, should they or their nominated support persons still be told? Are there overriding moral considerations that might justify non-disclosure in certain circumstances? Despite the obvious importance of these issues and their possible implications for the nursing profession, they have not been comprehensively explored in the nursing literature. An important aim of this article (the second of a two-part discussion) is to contribute to the positive project of redressing this oversight.

Predictive mapping of powerful owl (Ninox strenua) breeding sites using Geographical Information Systems (GIS) in urban Melbourne, Australia

Urban expansion is a principal process threatening biodiversity globally. It is predicted that over half of the world's population will reside in urban centres by 2010. If we are to conserve biodiversity, a shift in perspective from traditional ecological studies based in natural environments, to studies based in less natural environments is paramount. To effectively conserve species which occur in urban environments, comprehensive analysis is necessary to determine the processes that are driving this urban usage. Geographical Information Systems (GIS) technology provides a valuable tool for efficient spatial analysis and predictive mapping of species distributions.

This study used GIS to analyze current breeding sites for the powerful owl, a vulnerable top order predator in urban Melbourne, Australia. GIS analysis suggests that a number of ecological attributes were influencing powerful owl usage of urban environments. Using these ecological attributes, predictive mapping was undertaken, which identified a number of potential breeding sites for powerful owls within urbanized Melbourne.

Urban environments are traditionally perceived as “the wastelands” of natural environments, however, this study demonstrates that they have the potential to support apex predators, an important finding for the management of rare and threatened species.

Restructuring of education and training in Vietnam : a development and application of arts management training in Australia to Vietnam

The adoption of a more market-oriented economy under doi moi has paved the way for Vietnam to record remarkable human development achievements in the past decades. The Vietnamese education system has been undergoing continuous changes for almost twenty years. Key reforms have been implemented in the education and training sector such as privatising the sector; expanding the schooling system, the vocational education and training (VET) system, and higher education. This paper examines: (1) key reforms implemented in the education and training sector, placed in a broader context of economic reforms in Vietnam; (2) a development of arts management training courses in Vietnam to assist cultural organisations to adjust to social changes, as Vietnamese education institutions have not had much experience in designing training courses in arts and culture management; (3) several arts management training courses in Australian institutions to see the possibility to apply training in arts management in Australia to Vietnam. The findings indicate that a variety of management training modes in Australia can be adapted and applied to the Vietnamese training context. Some factors such as differences in culture, education and training systems, shortages in training staff and resources are also considered in this paper.

Lesbian family disclosure: Authenticity and safety within private and public domains

Definitions of family and disclosure of family configuration are important themes for understanding the experiences of contemporary lesbian-parented families. Drawing on multi-generational family interviews with 20 lesbian-parented families in Victoria, Australia, we explore how participants describe and present their families in public contexts. We found a marked difference in experience between lesbian-parented stepfamilies and lesbian-parented de novo families where children are conceived and raised by lesbian parents from birth. Family members adopted a variety of strategies when disclosing parents’ sexual orientation in mainstream social institutions such as health care settings and schools. Some chose a proud, open strategy; while others were more private; yet others chose a passive strategy, particularly when dealing with health care providers, and a selective strategy when dealing with schools. These strategies demonstrate
the fine balance that families must strike between being publicly authentic and creating safety by protecting themselves from negative attitudes.

Confidentiality and disclosure : assessment and intervention issues

This portfolio addresses the moral, ethical and legal issues that impact upon decisions to maintain or disclose confidential communications. The tensions and moral dilemmas that are created when a conflict between these aspects arises are considered. Risk assessment procedures that inform decisions to maintain or disclose confidential information are discussed, as are issues related to the practical implementation of planned interventions. The topic is addressed by firstly reviewing professional codes of conduct and legal requirements to maintain confidentiality. The limits of confidentiality and privileged communication are then reviewed together with legal requirements of “duty to warn” or “duty of care”. These requirements are then related to risk assessment procedures and relevant interventions. Four case studies that illustrate the practical application of assessment techniques in the decision process and planned interventions are presented. They cover such diverse topics as disclosure and suicidal intent, threat of harm to a third party, risk of transmission of the AIDS virus and “duty to warn” and maintenance of a minor’s confidential communications. The ways in which these issues were addressed and the outcome is presented. NOTE: All names and details that have the potential to identify the people whose cases are presented here have been changed to protect their anonymity.

An integrated observation network for the Gippsland Lakes, Victoria, Australia : balancing the needs of science and management

The Gippsland Lakes region in eastern Victoria is a partially flushed coastal lake system within a diverse catchment of rural and urban communities. Pressure from lakeside developments, re-occurring blue-green algal blooms, declining fisheries, sedimentation and infilling of the ocean entrance, has borne several decades of focussed studies and routine monitoring programs, along with a variety of engineering and management solutions. A recent review recommended that these disparate studies should be enhanced to formulate a coordinated monitoring network that could improve both spatial and temporal coverage, develop a capacity to trigger responsive investigations and was able to serve the needs of system management. Through a series of partnerships an integrated network was developed that comprises event and baseline monitoring of catchment loads, local meteorological forcing and an array of water quality sampling sites within the lakes system. A majority of these sites are incorporated with real-time telemetry that provides up to the minute information to stakeholders via a web-based information management system and vital operational status to technical system management.

Information security management curriculum development : an Australian example

The development of Information Security as a discipline has only occurred in recent years. Currently Information Security topics are widely taught at tertiary institutions but these topics are taught from a technical perspective and in other cases from a business perspective.

This paper discusses the development of a new security curriculum within Australia and how Australian tertiary institutions responded to that curriculum, the paper also puts forwards a framework that assists in curriculum development.

Donor conception and disclosure : an anthropological study

The study, carried out within an infertility support group, concern disclosure of donor conception and its possible effects upon our constructions of conception, kinship and identity. It also examines perceptions of rights, information and its access or denial, knowledge/power, secrecy and the medicalization of reproduction.

An examination of Australia's insider trading laws

Considers that the effective regulation of insider trading is desirable in order to maintain investor confidence in Australia's share markets. Although the current laws and the use of continuous disclosure provide a workable foundation, the thesis further considers the ways in which insider trading may be more effectively regulated and prosecuted in Australia.

Continuous product innovation : learning behaviours and knowledge management

The research reported in this paper considers Product Innovation from a broader perspective than that of the isolated NPD (New Product Development) project commonly discussed in the literature. In this perspective, Product Innovation is a continuous and cross-functional process involving the sharing and transfer of knowledge within the many steps of the innovation process, and the integration of a growing number of different competencies inside and outside the organisational boundaries. This paper examines two in-depth case studies that were carried out to establish if and how learning occurred within companies developing new products. Based on a model developed as part of a joint Euro-Australian research project, the way in which the selected companies share and transfer knowledge and learning experiences during their product innovation processes have been examined and analysed. This model uses a number of interrelated variables including performance, behaviours and levers to stimulate improvement, contingencies, and learning/innovation capabilities to describe the learning and knowledge transfer in product innovation processes within the case studies. This paper discusses some of the skills the research has identified that managers need to enable their companies to gain a competitive advantage through improved product innovation. The ongoing research has developed, tested and disseminated a computer-based methodology to assess organisational knowledge capture and transfer in the new product development process. The research is part of the Euro-Australian co-operation project known as CIMA (Continuous Improvement and Product Innovation Management).

Knowledge management in continuous product innovation : a contingent approach

There is a growing interest in new organisational forms and integrated managerial and technological approaches supporting companies in continuously innovating their products and processes to survive in a turbulent environment. Successful product innovation will more and more depend upon a company's ability to manage knowledge and integrate a growing number of competencies within and outside the organisational boundaries. These abilities require a complex set of interrelated managerial, technological and organisational conditions that must be designed according to the individual firm's characteristics. This paper aims to identify and analyse the relation between individual firms' contingent variables and managerial approaches to foster knowledge management in product innovation. Evidence is based on a survey of 70 companies, including European and Australian firms, developed within the Euro-Australian cooperation project entitled CIMA (Continuous Improvement for global innovation management).

User satisfaction in sustainable office buildings : a preliminary study

Energy efficiency was first mandated for commercial buildings in 2006 in Part J of The Building Code of Australia (BCA) and regulators are already implementing increased measures in 2010 (ABCB 2010). Further increases will follow as part of the co-ordinated effort to reduce building related greenhouse gas emissions. The introduction of the Energy Efficiency Disclosure Bill 2010 will establish a national scheme to promote the disclosure of information about the energy efficiency of office buildings as well as further highlighting the need for efficiency. Increased energy efficiency in the form of insulation, energy efficient light fittings, sophisticated Building Management Systems (BMS), micro-generation such as solar and wind turbines all result in measurable quantifiable reductions in operating costs for owners and tenants. However convincing all building owners about the sound business case for adopting sustainability measures has not been fully realised. To-date the adoption of cutting edge sustainable buildings in Australia is restricted to a few industry leaders, such as Investa and ISPT in Victoria for example. Sustainable building owners and tenants often benefit from reduced operating costs during the building lifecycle although the ‘intangible’ effect on businesses (e.g. employee productivity) is uncertain. This aspect has not been accurately quantified and has not been included as part of the measurement of sustainability in buildings.

This study will allow property stakeholders, including government policy-makers and investors/developers, to better understand the optimal type and level of sustainability to be incorporated into the built environment. In addition this knowledge will enable policymakers to make more informed decisions with regards to the likely impact of the legislative measures they propose in respect of sustainability and buildings in The Building Code of Australia (BCA) and other relevant legislation.

Look-ahead intelligent energy management of a parallel hybrid electric vehicle

Improving fuel efficiency in vehicles can reduce the energy consumption concerns associated with operating the vehicles. This paper presents a model for a parallel hybrid electric vehicle. In the model, the flow of energy starts from wheels and spreads toward engine and electric motor. A fuzzy logic based control strategy is implemented for the vehicle. The controller manages the energy flow from the engine and the electric motor, controlling transmission ratio, adjusting speed, and sustaining battery's state of charge. The controller examines the vehicle speed, demand torque, slope difference, state of charge of battery, and engine and electric motor rotation speeds. It then determines the best values for continuous variable transmission ratio, speed, and torque. A slope window method is formed that takes into account the look-ahead slope information, and determines the best vehicle speed. The developed model and control strategy are simulated using real highway data relating to Nowra-Bateman Bay in Australia, and SAE Highway Fuel Economy Driving Schedule. The simulation results are presented and discussed. It is shown that the use of the proposed fuzzy controller reduces the fuel consumption of the vehicle.