05 June 2023
The revamped Life Code of Practice will come into force on July 1, providing more than 50 new customer protection measures including a financial penalty of up to $100,000 for significant breaches, support for policyholders experiencing domestic violence and banning blanket mental health exclusions...
05 June 2023
An income protection policyholder who refused to sign a form giving his insurer “broader” authority to obtain information from any health provider to continue assessing his claim has won his dispute...
05 June 2023
The Financial Markets Authority has commenced court proceedings against Medical Assurance Society and its subsidiaries, alleging they failed to properly apply inflation adjustments, failed to apply multi-policy discounts and underpaid eligible life and disability claims...
05 June 2023
The first Trans-Tasman Strategic Leaders Summit for the financial services sector will take place in Auckland next year...
05 June 2023
Pro Bono Financial Advice Network says Zurich Financial Services, Sequoia and its Interprac business have joined the group to support its work with Australians living with a personal health crisis...
29 May 2023
Life insurers recorded weaker earnings in the 12 months to March, with the industry posting a 4.9% decline in net profit after-tax to $1 billion from a year earlier, latest Australian Prudential Regulation Authority data shows...
29 May 2023
About 44% of Australians have no life insurance and have no plans to acquire any either, according to a survey by online financial broker Savvy...
29 May 2023
Swiss Re has released a life expectancy report detailing emerging trends in medicine, healthcare and lifestyles that life insurers will need to understand as the industry prepares for the next wave of longevity improvements...
29 May 2023
Treasury has proposed collecting $20.4 million in levies funding from the life insurance/friendly societies sector to recover the costs of the Australian Prudential Regulation Authority’s supervision of the industry in 2023/24...
29 May 2023
Zurich Financial Services has launched a suite of health-related services to support customers’ wellbeing...
29 May 2023
Treasury is seeking submissions on draft legislation to “clarify” the Australian Financial Complaints Authority’s jurisdiction in relation to superannuation disputes...
29 May 2023
Westpac-owned BT has announced the permanent appointment of Jason Brown as its Head of Distribution...
22 May 2023
The Federal Court has handed down its judgment in civil penalty proceedings against AMP Group over the deduction of life premiums and advice fees from the superannuation accounts of more than 2000 deceased customers...
22 May 2023
The Federal Court has ordered MLC to pay a $10 million penalty over its failure to provide promised rehabilitation benefits to more than 100 eligible policyholders...
22 May 2023
The Advisers Association (TAA) has flagged concerns that proposed financial adviser education reforms may leave consumers more confused...
22 May 2023
TAL has launched a learning and development platform offering its superannuation fund partners access to on-demand education and training to support their teams...
22 May 2023
Former Synchron chair Michael Harrison died yesterday in Melbourne after a long illness...
22 May 2023
The Financial Services Council (FSC) has appointed Colonial First State Superannuation CEO Kelly Power as board member.
15 May 2023
The Australian Securities and Investments Commission (ASIC) has commenced Federal Court civil proceedings against HCF Life over alleged unfair contract terms (UCT) breaches in three types of policies offered to its members...
15 May 2023
Financial Services Minister Stephen Jones has provided a sketch of his plans for the Quality of Advice Review final report recommendations, indicating priority will likely be given to those that can progress through Parliament more “quickly” than other “controversial” proposals...