TAL expands adviser education program
06 February 2023
TAL has announced it will introduce 20 new courses as part of this year’s program for its adviser education platform, the TAL Risk Academy...
Life Insurance
Adviser chief calls out 'over-regulation, industry self-interest'
06 February 2023
Connect Financial Service Brokers CEO Paul Tynan has flagged his concerns over what he says are “millions of Australian consumers” who have no access to professional financial advisers...
Kaplan highlights value of education as it registers record admissions
06 February 2023
Kaplan Professional says it has registered a record number of enrolments in its first intake of the year, as it points towards a growing industry sentiment of “getting on” with education requirements regardless of proposed experience pathways...
'Still some way to go': APRA raises disability income insurance loss concerns
30 January 2023
The prudential regulator has cautioned against concluding the individual disability income insurance (DII) market is back on a sustainable path and urged the industry to stay focused on improving pricing and product features...
Disability income insurance new business sinks to 11-year low
30 January 2023
Disability income insurance new business declined to an 11-year low, falling 2.6% to $388 million in the 12-month period to September, research house Dexx&r says in a new report...
Pensioner loses funeral premium dispute
30 January 2023
A pensioner who disputed her insurer’s decision to decline her request for a refund of her funeral insurance premiums has failed to persuade the Australian Financial Complaints Authority to reverse the outcome...
Rehabilitation focus produces better results, Swiss Re report finds
30 January 2023
Investing in rehabilitation services leads to better outcomes for life insurers and their customers, a Swiss Re report has found...
TAL urges advisers to consider skills upgrade
30 January 2023
Life insurer TAL has pressed the importance of adviser education as Canberra weighs its response to the Quality of Advice Review...
MLC names banking executive as board director
30 January 2023
MLC Life Insurance says David Stephen has been appointed as Independent Non-Executive Director and will also serve as Chair of the Board Risk Committee...
'Find and fix': ASIC orders life claims review after underpayments reported
12 December 2022
The Australian Securities and Investments Commission has flagged concerns over possible claims payment issues in the life industry after seven insurers reported miscalculating benefits payouts, causing affected customers to receive less than they were entitled to in some cases...
'Claims handling failure': Zurich's OnePath hit with ASIC court proceedings
12 December 2022
OnePath Life has been taken to court for allegedly breaching its duty to act with utmost good faith in the handling of an income protection (IP) claim that it rejected on grounds of fraudulent behaviour from the insured...
Complaints over 'level' premium rises jolt regulators into action
12 December 2022
Life insurers have been ordered to review past pricing practices after complaints from consumers over increases to retail products, especially for “level” premium policies, and also reportable situations from the industry related to rate changes...
Financial planners back ALRC proposals on 'regulatory duplication'
12 December 2022
The Financial Planning Association has backed key proposals in the Australian Law Reform Commission second interim report on ways to keep existing financial services regulations “fit for purpose”...
Global life outlook kept at stable
12 December 2022
Moody’s Investors Service has kept its outlook for the global life industry at stable, citing the sector’s strengths including strong capital levels that would help it weather slowing economic growth...
Asteron Life NZ runs pilot offering employees more emotional support
12 December 2022
Asteron Life New Zealand has launched a pilot program to provide its case managers and customer service staff with more emotional support...
TAL names new board appointment
12 December 2022
TAL has appointed Naomi Edwards to its board as an independent Non-Executive Director...
'Back to basics': life industry bosses give take as advice review nears finish line
05 December 2022
Affordability and cost challenges, along with product design, are among the key issues facing the life industry after it finished the 2021/22 financial year with a profit of about $500 million, a KPMG webinar heard...
'Set a higher bar': advisers flag need for education changes
05 December 2022
The Advisers Association has urged the profession to consider raising qualification standards in preparation for likely changes after the Quality of Advice Review hands its report to the Government this month...
FPA wraps up annual congress
05 December 2022
The Financial Planning Association says more than 1200 delegates attended its annual Professionals Congress event last week, its first in-person gathering in three years since the pandemic broke out in March 2020...
FSC again pushes for advice reforms
05 December 2022
The Financial Services Council says an additional two million retirees would be better off by 2040 and 3.4 million by 2060 if changes as proposed by the Quality of Advice Review are implemented...