CBA deals with Storm involvement
22 June 2009
The Commonwealth Bank of Australia has admitted to its involvement in financial planning group Storm Financial’s collapse and promised to set things right with affected customers...
Life Insurance
Life insurer silent over $500,000 fraud case
22 June 2009
The life insurer at the centre of an alleged $500,000 insurance fraud payout remains tight-lipped after another insurer told insuranceNEWS.com.au it had rejected a follow-up claim worth $1.5 million...
Downturn forces insurance rethink
22 June 2009
The economic downturn has prompted a rethink among many Australians about the adequacy of their life insurance cover, according to a report by Axa Asia-Pacific...
War of words continues over fees versus commission
15 June 2009
The war of words between the Financial Planning Association and the Association of Financial Advisers continues following an FPA proposal to move to a fee-based pay structure...
Middle business finance shortage feared
15 June 2009
It isn’t just Australian insurers doing well in comparison with their global counterparts – another report by KPMG says Australian businesses in general are showing confidence...
Storm Financial’s book of clients sold
15 June 2009
Financial planning group Financial Index Australia has bought the remainder of collapsed Queensland advisory firm Storm Financial’s client book...
ING tackles ‘risk’ of living longer
15 June 2009
ING Australia is getting ready to launch a suite of income protection products tailored around longevity risks...
New FOS board to meet this week
09 June 2009
The Financial Ombudsman Service has named its new board, which will officially meet for the first time tomorrow...
FPA extends fee-for-service comment deadline
09 June 2009
The Financial Planning Association has agreed to members’ requests to extend the deadline for comments on its consultation paper calling for a move away from commissions to fees...
Deutsche Bank launches actuary scholarship
09 June 2009
Macquarie University Bachelor of Commerce student Yeeshu Kumar is the inaugural winner of a new $30,000 Deutsche Bank scholarship for actuarial students...
Banks lead race for Aviva
01 June 2009
Two major banks are tipped to be the major suitors for the mooted sale of life insurer Aviva’s Australian business...
Investors will lose even more by suing insurers
01 June 2009
Don’t expect to see too many cases of New Zealand investors suing insurance companies when financial advisers and the companies they recommend go bust, according to...
AIG ups the ante on AIA separation
01 June 2009
First it split off its general insurance operations, and now troubled insurer AIG has announced plans to accelerate the restructure of its life insurance unit American International Assurance through...
ING give jobless a break
01 June 2009
Policyholders who lose their jobs will get a three-month waiver on their life premiums with a new ING Australia offering called Premium Break...
FPA deals with backlash over fee-for-service proposal
25 May 2009
The Financial Planning Association has assured members there will be no penalty for failing to comply with its proposed fee-for-service model after being inundated with questions and concerns...
Life insurance buyers move online
25 May 2009
More people are choosing to go online to buy life insurance rather than see a financial planner, according to Allianz Australia...
Aussie life broker launches in UK
25 May 2009
Australian life insurance broker Lifebroker has announced its expansion into the huge UK market...
Afghanistan-bound diggers told to buy own cover
18 May 2009
Australian soldiers being deployed to Afghanistan are being told by the Defence Department to consider additional life cover to top up their existing death benefits...
Speedy reform process overtakes ING, Axa
18 May 2009
The brisk pace of regulatory reform has proved a little too brisk for life insurance companies with non-operating holding companies...
Suncorp: industry needs to do more on life education
18 May 2009
Suncorp Wealth Management Group Executive Geoff Summerhayes says the low number of life insurance claims resulting from the Victorian bushfires proves the industry needs to...