Institutions failing on adviser checks, breach reports: ASIC
20 March 2017
An Australian Securities and Investments Commission review of institutional advisers has found poor reference-checking and failure to inform the regulator of breaches…
Life Insurance
Long-serving AMP director to step down
20 March 2017
AMP non-executive director Peter Shergold will retire at the group’s AGM on May 11…
Life insurers must rebuild businesses to survive: PWC
20 March 2017
Australian life insurers must focus more on market segments than being all things to all people, according to a PricewaterhouseCoopers industry report…
ASIC takes advice group to court over alleged best-interests breaches
20 March 2017
The Australian Securities and Investments Commission has taken a Melbourne financial advice business to court for failing to act in consumers’ best interests…
NZ life insurer gains first rating
20 March 2017
Fitch has given New Zealand-based Manchester Unity Friendly Society a BB- rating and a stable outlook…
Crunch time looms for old life advisers
13 March 2017
The clocking is ticking for older life insurance advisers contemplating whether to stay in the industry or quit, with changes to remuneration and education standards due this year, according to Connect Financial Service Brokers CEO Paul Tynan…
Hearing grills CBA chief over TPD claims ‘cover-up’
13 March 2017
Commonwealth Bank has been forced to defend itself against politicians’ criticisms of a Deloitte review of CommInsure’s claims-handling practices…
Telesales grow as UK buyers turn away from advisers
13 March 2017
A UK survey shows a growing trend for buying life insurance over the phone, while online purchases are static…
Ex-Zurich GM takes over at AFA
13 March 2017
The Association of Financial Advisers has found a replacement for outgoing CEO Brad Fox, selecting former Zurich GM life and investments Phil Kewin for the role…
Working group pushes for a better life deal from funds
13 March 2017
Super funds need to assess whether the levels of insurance for its members are affordable and do not erode retirement balances, the Insurance in Superannuation Working Group says…
Choice backs claims role, doubles down on commissions
13 March 2017
Consumer group Choice accepts advisers have a role to play in the claims process, but it opposes them being paid commissions for selling life insurance…
Women score low on life insurance knowledge
13 March 2017
Women make more financial decisions in Australian homes, but 30% have admitted they do not know enough about life insurance, according to the latest BT Australian Financial Health Index…
MLC slashes underwriting time
13 March 2017
MLC Life Insurance is using a tele-underwriting service to cut the time it takes to cover retail clients…
BT makes it two in a row for AFA life award
13 March 2017
BT Financial Group has won the Association of Financial Advisers and Strategic Insight Life Company of the Year award for the second consecutive year…
Zurich expands underwriting team
13 March 2017
Zurich Financial Services has expanded its life insurance underwriting teams in Sydney and Brisbane…
Referrals roll in from Infocus-H&R Block tie-up
13 March 2017
Infocus says the first referrals have started to flow from its agreement with accountant H&R Block…
Life leaders slam ASIC findings on bad advice
06 March 2017
The Australian Securities and Investments Commission’s report on the life insurance advice industry is flawed, according to Synchron Chairman Michael Harrison…
Report gives CommInsure a pass on rejected claims
06 March 2017
Deloitte has cleared CommInsure of systemic failures in rejecting claims, in a report commissioned by parent Commonwealth Bank…
CommInsure comes out fighting over claims report
06 March 2017
CommInsure has rejected law firm Maurice Blackburn’s criticism that a new report on its claims handling is flawed…
AIA and Synchron team up on term product
06 March 2017
Synchron and AIA Australia are to introduce a term-level life insurance product later this year…