CommInsure scandal leads to further ASIC scrutiny
14 March 2016
The life industry is facing another Australian Securities and Investments Commission review in light of the CommInsure allegations…
Life Insurance
Framework bill is flawed, says leading adviser
14 March 2016
The current Life Insurance Framework Bill is flawed because it doesn’t include the recent changes to the best-interests duty, former Association of Financial Advisers President Michael Nowak says…
Choice backs adviser reform, but demands total commission ban
14 March 2016
Consumer advocate Choice has called for the Life Insurance Framework Bill to pass without alteration, arguing it is “an improvement on the status quo” in life insurance advice…
Removing stamp duty from commission calculations poses problem: AFA
14 March 2016
The Association of Financial Advisers agrees with stamp duty on life insurance policies being included in commission calculations, but says some issues will need to be addressed…
AIOFP slams direct insurers’ payout rates
14 March 2016
Direct life insurers are guaranteeing cover at the point of claim rather than when policies are sold, the Association of Independently Owned Financial Professionals says…
AMP holds lead in retail life premium
14 March 2016
AMP has held its leading position in the individual lump sum and income protection markets despite losing share, according to new life cover premium inflow data from Plan For Life…
Life reforms will drive up costs, deter consumers: NIBA
14 March 2016
Proposed changes to life insurance advice remuneration under the Corporations Amendment Bill may cost consumers, the National Insurance Brokers Association says…
FPA supports life framework legislation
14 March 2016
The Financial Planning Association has backed the proposed Life Insurance Framework legislation…
FSC admits commission-only advisers will find it hard under new rules
14 March 2016
The Financial Services Council says the Life Insurance Framework Bill has been “carefully designed to minimise the impact on small business”…
AFA spruiks advisers’ value in life insurance
14 March 2016
The Association of Financial Advisers has come out in strong defence of the role of advisers in the life insurance market…
ASIC to publish life regulations next month
14 March 2016
The Australian Securities and Investments Commission will release its legal framework for the life insurance industry next month, before it takes effect on July 1…
Milestone for financial planning software provider
14 March 2016
Financial planning software provider AdviserLogic has seen $91 billion of life insurance under advice on its systems during the past decade…
Senate committee adds life industry to advice review
07 March 2016
The Senate has voted to include the life insurance industry in terms of reference for its review of financial advice…
Liberal MP condemns life industry framework
07 March 2016
A Liberal backbencher has spoken out against the Federal Government’s Life Insurance Framework legislation…
Zurich buys Macquarie Life
07 March 2016
Zurich Australia will buy Macquarie Life for an undisclosed sum, and says all staff will be transferred when the deal is finalised in the second half of this year…
Government passes FOFA amendments
07 March 2016
Legislation amending the Future of Financial Advice Act has been passed, enabling opt-in renewal notices to be extended to 60 days…
BT takes top gong in life industry awards
07 March 2016
BT Financial Group has been named platinum winner in the Plan For Life and Association of Financial Advisers Life Company of the Year awards…
AZ NGA adds Perth group to growing adviser network
07 March 2016
AZ Next Generation Advisory has acquired Perth-based Wealthwise for $9.5 million, marking its ninth purchase of an Australian wealth advisory in the past 12 months…
TAL links up with education foundation
07 March 2016
TAL has joined forces with the Personal Injury Education Foundation to provide professional courses for its claims and rehabilitation teams…
ANZ insurance moves in structural shake-up
07 March 2016
ANZ’s insurance business in Australia will merge into a new wealth division that also includes superannuation and investments…