Life Insurance
Watchdog to examine overturned claims trends
06 October 2025
The life insurance code monitor will hold an inquiry into claims outcomes, focusing on cases where decisions have been reversed following a complaint...
Cbus settles over payout delays
06 October 2025
Industry superannuation fund Cbus and its administrator MUFG Retirement Solutions have settled a lawsuit over delays processing death benefits and other life insurance claims...
Code must deliver ‘real benefits’, review head says
06 October 2025
Former regulator Peter Kell has started reviewing the life industry’s code of practice and expects to release a consultation paper this month...
Life specialist cops ban over ‘deceptive conduct’
06 October 2025
An adviser has been hit with an eight-year ban from the financial services industry after regulators found he engaged in deceptive behaviour when submitting life insurance applications for clients...
Claimant’s ‘therapeutic’ work costs her TPD benefit
06 October 2025
A woman who made a total and permanent disability claim but continued working has lost a dispute before the financial services ombudsman...
Resolution recruits finance chief
06 October 2025
Resolution Life has appointed Jeff Davies as CFO, replacing Jonathan Moss, who will become chief technical officer...
St Andrew’s to buy industry admin provider
06 October 2025
St Andrew’s Insurance Group says its purchase of Aegon Insights Australia will enhance its position in the life market...
Genetic results ban out for feedback
29 September 2025
The federal government is consulting on draft laws banning the use of genetic test results in life insurance underwriting...
Super fund had to cancel cover, AFCA rules
29 September 2025
The financial services ombudsman has backed an insurer that cancelled death benefit cover under the Protecting Your Super reforms without informing the policyholder...
ASIC removes adviser’s licence
29 September 2025
The corporate regulator has cancelled a financial services licence after its holder failed to have Australian Financial Complaints Authority membership...
Super trustee penalised over coverage notifications
29 September 2025
Fund trustee Retail Employees Superannuation has been hit with two infringement penalties totalling $37,560 for allegedly making false or misleading insurance representations to members...
Acenda TPD option offers ‘clarity, consistency’
29 September 2025
Acenda has added to its total and permanent disability line-up with the launch of TPD Severity cover...
Cricket stars to speak at adviser conference
29 September 2025
Retired cricketers Adam Gilchrist and Mel Jones will speak at the closing session of the Financial Advice Association Australia annual conference in November...
Review finds code breaches on mental illness
22 September 2025
Some life insurers still apply blanket mental health exclusions, flouting the industry’s code of practice, a review has found...
AFCA seeks feedback on misrepresentation approach
22 September 2025
The financial services ombudsman has drafted new guidance on its handling of life insurance disputes related to the duty to take reasonable care not to make misrepresentations...
Industry needs ‘different playbook’ for under-40s
22 September 2025
About 68% of consumers aged under 40 in Australia and other advanced markets see life insurance as essential but are not acting on it, a report co-authored by consultant Capgemini has found...
Builder exaggerated condition to score income coverage
22 September 2025
A builder who received income protection payouts then made promotional videos for social media and was filmed playing tennis has lost a complaint before the financial services ombudsman...
PPS director takes top seat
22 September 2025
Specialist life insurer PPS says director Anthony Asher will become its next chair, replacing the retiring Mike Jackson...
Zurich loan cover ‘combines life, income protection’
15 September 2025
Zurich has launched Home Loan Protection, a cover that automatically adjusts its premiums as an insured’s mortgage is reduced...
AMP reaches deal with insurers after claim row
15 September 2025
AMP has received about $44 million from insurance claims to cover historical remediation programs that ended in 2022...