FPA Financial Planning Week starts
03 October 2022
The Financial Planning Association says it has commissioned research to highlight the difference in quality of life between advised and unadvised Australians...
Life Insurance
Advice review among key discussion topics at AFA conference
26 September 2022
Association of Financial Advisers CEO Phil Anderson provided an update on the profession last week at the peak body’s national conference, touching on adviser numbers, education requirements as well as the Quality of Advice Review...
Industry working group to research 'true cost' of advice provision
26 September 2022
The Financial Planning Association and other members of the Joint Associations Working Group are starting research soon to determine the cost of providing advice as part of their submission to the Quality of Advice Review...
Complainant loses IP benefit reinstatement dispute
26 September 2022
A complainant who was receiving partial disability payments for depression caused by workplace bullying for more than a year until the insurer decided to stop them, citing medical information suggesting she can return to her pre-injury work capability, has lost her dispute to have the benefits reinstated...
Treasury super review progresses with technical working group
26 September 2022
A 12-member working group that includes independent economists and academics has been established to work alongside Treasury’s ongoing review of Your Future, Your Super reforms...
AIA among winners at annual NZ financial services industry gathering
26 September 2022
The Financial Services Council in New Zealand has named its award winners across seven categories in recognition of their contributions and achievements as individuals and teams...
Fraudulent misrepresentation of schizophrenia voids policy, AFCA rules
19 September 2022
A life insurer has prevailed in a dispute over its decision to avoid a policy and deny a claim on grounds the insured “fraudulently misrepresented” his history of schizophrenia when he applied for the cover...
Shine investigates class action over 'unnecessary insurance' sales
19 September 2022
Compensation law firm Shine Lawyers is investigating a possible class action against Aussie Home Loans for allegedly selling “unnecessary insurance” to customers who may already have had similar or better life coverage...
Choice renews push for 'enforceable rules on claims handling'
19 September 2022
Consumer advocate Choice is renewing its push for an “enforceable” code of conduct after flagging last week the case of a supermarket worker who was not able to claim for disability insurance benefits despite having paid the premiums for years from her super fund...
FPA sets November dates for congress, advice reviewer Michelle Levy to provide update
19 September 2022
The Financial Planning Association will hold its Professionals Congress from November 23-24 in Sydney, with many sessions scheduled to discuss the issues facing its members after more than two years of pandemic disruption...
MetLife enhances its digital care offering
19 September 2022
MetLife Australia has expanded its 360Health Virtual Care digital offering with the addition of Fitness and Recovery features...
Expand last resort compensation scheme's coverage scope, industry urges
12 September 2022
The financial services industry has broadly welcomed the tabling of legislation for the planned compensation scheme of last resort in parliament last week...
New Code strips out 20,000 words from 'lengthy, complex' predecessor, FPA says
12 September 2022
The Financial Planning Association has refreshed its Professional Code after an “extensive” consultation with members...
Treasury review of super reforms examines 'stapling' impact on insurance
12 September 2022
A Treasury review of super reforms introduced last year includes examining “any unintended consequences and implementation issues” from the stapling measure since its commencement on November 1...
Court rules on MetLife's decision not to 'reconsider' TPD claim
12 September 2022
MetLife did not breach its duty and obligations “in considering and declining” a total and permanent disablement claim in August last year, the Supreme Court of New South Wales says in a ruling last month...
AFA adviser, female excellence awards finalists named
12 September 2022
The Association of Financial Advisers has named the finalists for adviser and female excellence in advice awards...
Advice review targets 'very heavy compliance burden' in consultation paper
05 September 2022
The Quality of Advice Review consultation paper has proposed removing the mandatory statement of advice , financial services guide and a raft of other measures to ease the “very heavy compliance burden” facing advisers...
ASIC flags action over 'intrusive' individual DII claims handling practices
05 September 2022
The Australian Securities and Investments Commission has warned it could take action against individual disability income insurance providers, after its review found some are using “intrusive measures” such as physical surveillance without basis to assess claims...
AFA, FPA seek 'unified voice' in proposed merger
05 September 2022
The Association of Financial Advisers and the Financial Planning Association (FPA) are exploring a potential merger with the aim of creating a “unified voice” to represent the profession...
APRA says individual DII faces 'jeopardy' again
05 September 2022
The individual disability income insurance line may again be in “jeopardy” amid signs that providers are prioritising sales over product sustainability, Australian Prudential Regulation Authority Deputy Chair Helen Rowell warns...