Complainant loses dispute over second cancer trauma claim
13 November 2023
A complainant who disagreed with his insurer’s decision to reject a second claim he made under his trauma policy for a cancer diagnosis has lost his dispute...
Life Insurance
ClearView Wealth says life business on ‘right trajectory’
13 November 2023
ClearView Wealth says its core life business continues to perform well, registering strong growth in new business since July 1, the start of its new 2023/24 financial year...
Advisers step up graduate recruitment drive
13 November 2023
The Financial Advice Association Australia is stepping up its recruitment efforts to attract more fresh graduates to the profession, creating a Head of University and Student Programs role to reach out to tertiary students...
APRA makes minor amendment to standard
13 November 2023
The Australian Prudential Regulation Authority has informed life insurers of a minor amendment to Prudential Standard LPS 310 Audit and Related Matters...
Advisers say financial exam is redundant
06 November 2023
The Advisers Association has called for a change in exam policy, saying the current test has served its purpose and is therefore fast approaching its use-by date...
MLC appoints COO, people chief
06 November 2023
MLC Life Insurance has appointed Jane Murray as COO and Kristin Miller as Chief People Officer...
Financial Advice NZ names interim CEO
06 November 2023
Financial Advice New Zealand has appointed Tony Dench as its interim CEO as it searches for a successor for the outgoing Katrina Shanks...
Outsourcing can lift competitive edge: third-party claims manager
06 November 2023
Third party claims manager Gallagher Bassett has urged group life insurers to consider “strategic outsourcing” as a tool for lifting business efficiency and have an edge in the market...
Industry makes inclusive workplace list
06 November 2023
MetLife has made it to the 2023/24 list of inclusive employers and other insurance-related businesses included in the list are CHU Underwriting Agencies, Sedgwick and actuarial firm Finity Consulting...
MLC adds cancer screening service to Vivo program
06 November 2023
MLC Life has launched a new cancer screening questionnaire to help customers take proactive steps towards prevention...
TAL announces digital super service
06 November 2023
TAL has launched a new digital solution for its super fund partners to help enhance and simplify insurance services for members...
No TPD payout for claimant on Centrelink carer’s allowance
30 October 2023
A complainant who insisted his total and permanent disablement claim should have been accepted has failed to overturn his insurer’s decision, with the complaints ombudsman ruling his Centrelink carer’s allowance did not meet the policy’s “gainful employment” definition...
Canberra extends Youpla redress scheme to 2024
30 October 2023
The Federal Government has extended the financial redress scheme for beneficiaries of deceased Indigenous policyholders who had acquired funeral insurance from Youpla Group...
Challenger says ‘tailwinds’ will drive growth
30 October 2023
Investment group Challenger says the business, particularly its core life division, is primed for further growth after posting strong results for the last financial year...
Court dismisses ASIC proceedings against super trustee
30 October 2023
The Federal Court has dismissed Australian Securities and Investments Commission civil penalty proceedings against Diversa Trustees, ruling the business did not fail to take reasonable steps to ensure its adviser representatives complied with financial services laws...
Melbourne adviser wins Gwen Fletcher award
30 October 2023
The Financial Advice Association Australia announced today Strategic Wealth Partner and financial adviser Andrew Dickinson has won the Gwen Fletcher Memorial Award for semester two of 2023...
Financial Advice NZ welcomes awards submissions
30 October 2023
Financial Advice New Zealand has opened nominations for the 2024 Financial Advice New Zealand Awards...
Industry feels sting from cost pressures, falling adviser numbers
23 October 2023
Cost of living pressures led to higher lapse rates while declining adviser numbers have affected sales of death and disability income insurance policies, consultancy KPMG says in in its latest annual review of the life industry...
Insurer fails to pause AFCA payout ruling
23 October 2023
An insurer’s application to stay the operation of an Australian Financial Complaints Authority superannuation dispute ruling has been dismissed by the Federal Court...
TPD has highest claims paid ratio
23 October 2023
Latest Australian Prudential Regulation Authority data shows total and permanent disability with a claims paid ratio of 78%, the highest among seven life product lines covered for the rolling 12-month period to June 30...