Integrity Life to quit selling retail products via advisers
11 September 2023
Integrity Life will stop selling retail life products via the advice channel from September 29 due to declining numbers of advisers...
Life Insurance
Insurer entitled to decline fibromyalgia trauma claim
11 September 2023
A complainant who claimed a $436,543 benefit due to a “loss of independent existence” will not be compensated after a dispute ruling decision found the insured had not met the policy’s terms for a payout...
Rating agency report studies covid impact on reinsurers
11 September 2023
AM Best has released a report on the state of the life reinsurance sector including the impact of covid on the industry...
AustralianSuper sued over multiple accounts
11 September 2023
The corporate regulator has launched civil penalty proceedings against AustralianSuper over its alleged failures to “promptly identify and merge” multiple accounts held by the same members, causing them to pay more insurance premiums and administration fees than necessary...
CALI launches support program for mid-career female advisers
11 September 2023
The Council of Australian Life Insurers has launched a program aimed at supporting mid-career female financial risk advisers...
TAL launches mental health webinar series
11 September 2023
TAL has launched its client mental health and wellbeing webinar series to help provide financial advisers with the capability to support their clients’ needs...
Industry to discuss life insurance research project with academics
04 September 2023
Life insurers will hold a meeting with four Australian universities on Thursday about a longitudinal study of life insurance customers...
Insurer ‘not obliged’ to reinstate cancelled policy
04 September 2023
A complainant who cancelled a term policy on the life of her husband, and then demanded the cover be reinstated and the insurer pay her the insured benefit after his sudden death, has lost her dispute...
Youpla directors accused of breaching duties
04 September 2023
Five former Youpla Group directors are alleged to have breached their duties in agreeing to insurance arrangements with a Vanuatu-registered company, actions that were not in the best interests of the collapsed funeral insurer’s Indigenous customers...
TAL announces AFLW player support program
04 September 2023
TAL launched a new initiative as part of its partnership with AFLW to help fans offer support and encourage AFLW athletes both on and off the field...
Life net profit tops $1.2 billion as investments recover
28 August 2023
The life industry achieved sharply higher earnings for the year to June 30 as investments returns rebounded strongly to a $4.8 billion profit from a year-earlier deficit of $6.3 billion, according to the Australian Prudential Regulation Authority...
ClearView aims for growth after life earnings surge
28 August 2023
ClearView Wealth is aiming to grow its share of the life insurance market after group underlying net profit grew a record 41% to $36.5 million for the year to June 30...
ASIC levy: advisers want more transparency over enforcement costs
28 August 2023
The Australian Securities and Investments Commission lacks transparency over its use of resources to monitor corporate behaviour, the adviser peak body says...
Adviser peak body seeks nominations for inaugural awards
28 August 2023
The Financial Advice Association Australia has launched its inaugural excellence awards following its creation this year from the merger of the Association of Financial Advisers and Financial Planning Association...
MetLife steps up commitment to First Nations people
28 August 2023
MetLife has launched its Reflect Reconciliation Action Plan, building on the initial First Nations people-focused program started in 2020 by the life insurer...
Zurich progresses with OnePath integration
28 August 2023
Zurich and OnePath General Insurance have given notice of their intention to make a joint application to the Federal Court seeking confirmation of a scheme to transfer OnePath’s business into the Swiss insurer...
AMP settles royal commission-triggered class action
21 August 2023
AMP has settled a shareholder class action related to revelations emerging from the Hayne royal commission for $110 million...
Complaint about fraudulent TPD payment fails
21 August 2023
The Australian Financial Complaints Authority has backed a superannuation trustee after it paid a total and permanent disability insurance benefit to the insured's mother, who was acting fraudulently...
Challenger earnings rise as life sales top $9.7 billion
21 August 2023
Investment group Challenger posted improved earnings in the last financial year, supported by its core life business...
NZ financial services industry names award winners
21 August 2023
The Financial Services Council of New Zealand has celebrated the industry’s top achievers at its annual awards dinner last week...