NSW floods: AIA offers premium waver, policy suspension
11 July 2022
AIA Australia is offering premium waiver and policy suspension options as part of a new assistance package for its customers affected by the latest NSW flood...
Life Insurance
Climate change is greatest health threat: AIA
04 July 2022
Life insurer AIA has released a report highlighting the “inextricable link” between the environment and public health, with climate change singled out as the greatest global threat...
Up and away with TAA: Adviser peak bodies merge
04 July 2022
Members of the Authorised Representatives Association members have voted to close the peak body, joining The Advisers Association at the start of this month...
Videos promote paperless advice statements
04 July 2022
The Financial Planning Association has prepared a series of 14 videos to help its members provide statements of advice to clients via a video format while remaining within the regulatory framework...
MLC Life moves on advisers' feedback
04 July 2022
MLC Life Insurance has made a series of enhancements to its retail products following feedback from advisers...
icare's risk chief moves to MLC Life
04 July 2022
MLC Life Insurance says Jane McGovern, who is currently Group Executive Risk and Governance at NSW Government insurer icare, will join the business as Chief Risk Officer on September 19...
PPS Mutual appoints business development manager
04 July 2022
PPS Mutual says Brynley Williams has joined as Business Development Manager, reporting to State Manager Queensland Richard Hopwood...
Resolution Life takes full control after buying AMP's stake
04 July 2022
Resolution Life Australasia now has “full ownership” of its operations after acquiring AMP’s remaining 19.3% equity interest in the business...
Life insurers move to set up new peak body
27 June 2022
Australian life insurers have made a “collective” decision to set up a dedicated peak body to advocate on their behalf, following a “significant change” in the industry before and after the Hayne royal commission...
New life code carries $100,000 penalty for 'significant' breaches
27 June 2022
The Life Insurance Code of Practice has been updated with more than 50 new consumer protection measures, including a financial penalty of up to $100,000 for some significant breaches in the form of a community benefit payment to a charity, the Financial Services Council said...
Upfront life commissions should be raised: The Advisers Association
27 June 2022
The Advisers Association says the upfront life insurance commission rate, set at 60% presently, should preferably be raised to 80% or higher in a submission to the Quality of Advice review...
Adelaide adviser charged with falsifying company books
27 June 2022
The corporate regulator says Adelaide adviser Tai Thanh Nguyen, whom it banned permanently in 2019 for dishonest conduct including allowing incorrectly witnessed binding nomination forms to be submitted to insurers, has been charged with seven counts of alleged falsification of company books...
AFCA rules 90-day 'elimination' clause applies in trauma claim dispute
27 June 2022
A complainant whose claim for trauma benefit was declined on grounds that his malignant cancer occurred during the initial 90-day exclusion period of the policy’s commencement date has lost his dispute with Zurich...
Resolution Life makes key leadership appointments
27 June 2022
Resolution Life Australasia has announced two key leadership appointments, aimed at supporting its goal to be the “leading” in-force specialist life insurer in the region...
Advisers warn of 'destructive' impact if commissions are banned
20 June 2022
Banning life insurance commissions would lead to “destructive” consequences, as most Australians have indicated repeatedly in past surveys that they will not pay an upfront fee to receive professional guidance, the Association of Financial Advisers says in a submission...
ALUCA excellence award winners named
20 June 2022
The Australasian Life Underwriting and Claims Association has named the winners of this year’s excellence awards...
MLC Life appoints finance chief as CEO
20 June 2022
MLC Life Insurance says CFO Kent Griffin will take on the CEO role in late October, replacing Rodney Cook who is retiring at the end of the year...
Industry profit tops $1 billion: APRA data
20 June 2022
Life insurers and reinsurers achieved more than $1 billion in combined net profit for financial years ended in the 12 months to December 31, according to latest data from the Australian Prudential Regulation Authority...
OnePath, Cigna admit breaching New Zealand fair dealing provisions
20 June 2022
OnePath and Cigna have admitted liability for breaching New Zealand’s fair dealing provisions in relation to misleading representations that their distribution partner, ANZ, made to certain customers who held credit card repayment insurance...
MetLife consultant named Banking and Finance Oath young ambassador
20 June 2022
MetLife Australia Customer Experience Consultant Kat Ilieska has been named one of eight Banking and Finance Oath Young Ambassadors for 2022...