NZ advice industry celebrates high achievers
11 March 2024
The Financial Advice New Zealand conference last week handed out awards for outstanding achievement...
Life Insurance
‘Regulatory intervention essential’ on genetic testing, AFCA says
04 March 2024
The Australian Financial Complaints Authority backs regulating life insurers’ use of genetic testing results, saying government intervention is needed for the sake of consumers...
Funeral insurer misrepresented Indigenous ownership
04 March 2024
A court has ruled that funeral insurer Youpla Group and subsidiary ACBF Funeral Plans misrepresented to Indigenous consumers that the business was owned or managed by Aboriginal people...
Policyholder has no right to commissions, AFCA rules
04 March 2024
The Australian Financial Complaints Authority has rejected a life insurance policyholder’s bid to obtain a portion of the commissions paid to his adviser...
MLC fills tech chief position
04 March 2024
MLC Life Insurance has appointed Mirella Robinson to the newly created Chief Technology Officer role...
Suncorp NZ life profit hit by discount rate
26 February 2024
Suncorp New Zealand’s life business suffered a 12.5% decline in half-year net profit to $NZ14 million ($13.1 million), the business announced today...
Insurer ordered to reinvestigate melanoma claim
26 February 2024
Resolution Life Australasia must reassess a melanoma patient’s trauma claim after a dispute ruling found that it carried out a “deficient” investigation into whether the man’s illness met terms covered by its policy...
Lawyers update class action members on Colonial settlement
26 February 2024
Slater & Gordon has provided an update on a $100 million class action settlement with Colonial First State in relation to adviser commissions and fees charged to super members...
ClearView hails structural shift as life earnings surge 32%
26 February 2024
ClearView Wealth says it is making a “successful transition” from a diversified financial services company to a pure life insurance business, as demonstrated by its first-half results...
Super fund hit with class action over income protection premiums
19 February 2024
Shine Lawyers has launched class action proceedings in the Federal Court against Rest Superannuation, alleging the fund wrongfully deducted income protection premiums from members’ accounts...
Tech investment shapes as bright spot for ‘beaten-up’ life sector
19 February 2024
The life insurance industry is ripe for an overhaul and offers technology vendors an exciting untapped opportunity, Austbrokers Life MD Ben Donald says...
ANZ misled client on cancer exclusions
19 February 2024
A complainant has won her dispute with the company that arranged a reinstated trauma policy after the Australian Financial Complaints Authority ruled she was misled over coverage terms and exclusions for cancer...
Life results drive Challenger half-year earnings
19 February 2024
Challenger has recorded stronger first-half results, supported by its core life business...
Resolution Life fights court ruling over AFCA claim decision
12 February 2024
Resolution Life is challenging a Federal Court decision rejecting its appeal against an Australian Financial Complaints Authority ruling about a gratuitous payment for a total and permanent disability claim...
Claimant who lied about drug use loses dispute
12 February 2024
The Australian Financial Complaints Authority has ruled against a complainant whose insurer avoided his policy because he lied about his history of drug use...
Minister aims to streamline NZ financial services laws
12 February 2024
New Zealand financial services laws are in line for a shake-up after Commerce and Consumer Affairs Minister Andrew Bayly unveiled plans to address red tape and duplication of work by regulatory bodies...
First Nations advocates welcome Youpla redress scheme
12 February 2024
The Save Sorry Business Coalition has welcomed a $97 million financial resolution scheme for policyholders of failed funeral insurer Youpla Group...
TAL adds new program to adviser education course
12 February 2024
TAL has updated the courses offered on its adviser education platform TAL Risk Academy...
Life insurers back tough regulations on genetic tests
05 February 2024
The Council of Australian Life Insurers supports “strict” rules around the use of genetic test results in insurance underwriting, as Treasury consults on possible changes to the legislative set-up...
Actuaries back regulation on use of genetic test results
05 February 2024
The Actuaries Institute supports introducing legislation to regulate life insurers’ use of genetic testing results, the peak body says in a submission to Treasury...