Covid lockdowns 'exacerbated' mental health challenges: AIA
11 April 2022
Lockdown measures aimed at suppressing coronavirus after the pandemic broke out in March 2020 have taken a toll on mental wellbeing, AIA says in a new report...
Life Insurance
Westpac told to reimburse IP premiums for providing misleading advice
11 April 2022
Westpac gave misleading advice when it arranged for a customer to acquire an income protection (IP) insurance policy that only provided benefit payments if an injury left the insured “severely disabled” and must reimburse him for the premiums paid, the Australian Financial Complaints Authority says in a dispute ruling...
Frontier Advisors appoints principal consultant
11 April 2022
Australian investment consultancy Frontier Advisors says Cecily Williams has joined as Principal Consultant, a senior client-facing role across a range of sectors such as insurance and superannuation investors...
MLC backs cancer screening awareness program
11 April 2022
MLC Life Insurance has teamed up with TelstraSuper to pilot a cancer screening awareness program...
Almost half of claims decisions reversed after customer complaints
04 April 2022
Life insurers reversed about 45% of claims decisions following a customer complaint, raising concerns over whether they are assessing claims properly and the adequacy of service provided to policyholders...
Industry backs federal budget spending on mental health support
04 April 2022
The Financial Services Council has welcomed the additional $547 million in Commonwealth funding for mental health programs, as outlined in the Federal Budget 2022/23 last week by Treasurer Josh Frydenberg...
'Lawful and consistent': insurer wins dispute over premium rises
04 April 2022
A complainant who disputed the increased premiums charged to two policies he held with AIA has been told the new rates were raised “lawfully” and were “consistent” with the contract terms...
FSC names new CEO
04 April 2022
Financial Services Council Acting CEO Blake Briggs will take on the role permanently following the departure of Sally Loane at the end of last year...
AFRM marks 25th anniversary
04 April 2022
Specialist risk advice firm Australian Financial Risk Management celebrated its 25th anniversary last week...
APRA suspends DII policy contract term sustainability measure
28 March 2022
The Australian Prudential Regulation Authority has decided to put on hold its plan for the implementation of the policy contract term measure in individual disability income insurance products...
ASIC warns influencers against breaking financial laws
28 March 2022
The corporate regulator has warned social media influencers and licensees who engage them against breaking financial services laws, adding enforcement actions will be taken if contraventions are found...
Evicted tenant loses dispute over late benefit payments
28 March 2022
A complainant who claimed he was evicted because he was not receiving his monthly income protection benefit payments on time from AMP Life to pay his rent has lost his dispute...
MetLife announces diversity commitments
28 March 2022
MetLife has pledged to invest more than $US2.5 billion to achieve its set of 2030 diversity, equity and inclusion commitments...
ASIC releases financial adviser exam results
28 March 2022
The corporate regulator has released the results of the first financial adviser exam cycle it administered since taking over the duty from the Financial Adviser Standards and Ethics Authority...
Insurer called out over outdated definition
21 March 2022
A Westpac customer who made an unsuccessful claim on her living insurance policy after undergoing surgery for breast cancer in 2020 and then radiotherapy last year has won her dispute with the insurer...
WT Financial Group acquires Synchron
21 March 2022
Diversified financial services provider WT Financial Group will acquire Synchron, a privately-owned advice group...
TAL wins AFA life company of year award
21 March 2022
The Association of Financial Advisers says TAL has again been named Life Company of the Year, the fifth straight time that it has taken home the award...
iExtend launches in life market
21 March 2022
New life entrant iExtend has launched in the market, offering what it says is an “innovative” product that partners with life insurance owners to share ownership of the policy...
TAL earns recognition for workplace equality efforts
21 March 2022
TAL has been named Employer of Choice for Gender Equality in recognition of its efforts to advance workplace parity...
FSC outlines pre-election priorities for life insurance, advice
14 March 2022
The Financial Services Council has released a report outlining its policy priorities including for life insurance and the advice sector ahead of the federal election, which is widely expected to take place in May...