Life Insurance

Australian life insurers have made a “collective” decision to set up a dedicated peak body to advocate on their behalf, following a “significant change” in the industry before and after the Hayne royal commission...

The Life Insurance Code of Practice has been updated with more than 50 new consumer protection measures, including a financial penalty of up to $100,000 for some significant breaches in the form of a community benefit payment to a charity, the Financial Services Council said...

The Advisers Association says the upfront life insurance commission rate, set at 60% presently, should preferably be raised to 80% or higher in a submission to the Quality of Advice review...

The corporate regulator says Adelaide adviser Tai Thanh Nguyen, whom it banned permanently in 2019 for dishonest conduct including allowing incorrectly witnessed binding nomination forms to be submitted to insurers, has been charged with seven counts of alleged falsification of company books...

A complainant whose claim for trauma benefit was declined on grounds that his malignant cancer occurred during the initial 90-day exclusion period of the policy’s commencement date has lost his dispute with Zurich...

Resolution Life Australasia has announced two key leadership appointments, aimed at supporting its goal to be the “leading” in-force specialist life insurer in the region...