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...
15 May 2023
AustralianSuper will be refunding $70 million to members after a review of its processes for managing multiple accounts found “not all” accounts were covered, meaning affected members have possibly been overcharged for insurance and other fees...
15 May 2023
The Australian Financial Complaints Authority (AFCA) has ruled an insurer misled a complainant in annual statements mailed to him, by failing to state in the documents that he will not be covered for heart attacks after age 70...
15 May 2023
Industry reactions to the Federal Budget have been mixed, with life insurers welcoming the Albanese Government’s measures to ease living cost measures and financial advisers saying they hope for more clarity soon on the Australian Securities and Investments Commission (ASIC) levy...
08 May 2023
Quality of Advice reviewer Michelle Levy has urged the Federal Government to take up her recommendations and work on any changes to the proposed measures, if they are needed, at a later stage.
08 May 2023
The recent ruling by the Full Federal Court in relation to fraudulent misrepresentation in a group insurance dispute has been interpreted as a positive outcome for life insurers who provide cover through agreements with super funds.
08 May 2023
The Australian Financial Complaints Authority (AFCA) has upheld the decision made by a trustee to cancel the insurance of a fund member as mandated by law, after her account became “inactive”.
08 May 2023
MLC Life Insurance says Endo Hiroyuki has started as Chief Investment Officer and Deputy CFO, joining from Nippon Life which owns 80% of the Australian business.
01 May 2023
Timing is everything and for Australian life insurers, the decision to create a new peak body in June last year underscores the industry’s commitment to address the evolving landscape after the Hayne royal commission in 2018...
01 May 2023
Life insurers have urged the Albanese Government to recognise the importance of life insurance as part of the objective of superannuation in a submission to a Treasury consultation...
01 May 2023
ClearView Wealth announced today the appointment of Nadine Gooderick as CEO, effective July 1, taking over the reins from MD Simon Swanson who is retiring after 12 years leading the business...
01 May 2023
The Financial Services Council (FSC) has urged the Federal Government to prioritise proposed reforms as outlined in the Quality of Advice Review final report...
01 May 2023
Life insurer TAL is introducing a new education program to help advisers understand the Financial Planners and Advisers Code of Ethics...
01 May 2023
Integrity Life has announced the appointments of two new senior underwriters as it hails its recent “significant growth”...
24 April 2023
Dispute lodgement ratios for individual life products have seen a sharp increase since June 2021, the Australian Prudential Regulation Authority says...
24 April 2023
The Federal Government is seeking feedback until May 3 on draft legislation to reform financial adviser education standards...
24 April 2023
The Australasian Life Underwriting and Claims Association has named the finalists for its sixth annual Life Insurance Excellence Awards...
24 April 2023
Reforms to improve worker entitlement protections should ensure compensation is available for insurance cover that is lost due to superannuation payment failures, the Australian Lawyers Alliance says...
24 April 2023
Insurance through default superannuation will continue to grow in importance as the way in which most people access cover, MLC Life Insurance says in making a submission...
24 April 2023
AIA Australia says it will introduce unique discounts on premiums and products as part of an incentive to policyholders to engage in healthy behaviours...