29 November 2021
The troubled individual disability income insurance product is finally in the black, posting an after-tax profit of $124 million in the 12-month period to September 30 after losing $1.41 billion a year earlier, according to latest statistics from the Australian Prudential Regulation Authority...
29 November 2021
The Australasian Life Underwriting and Claims Association launched a white paper last week on individual disability income insurance, outlining keys areas where improvements may be made amid an ongoing industry-wide push to return the troubled product line to a sustainable state...
29 November 2021
Plaintiff law firm Shine Lawyers has filed a class action in the Federal Court on behalf of QSuper’s members, alleging the Brisbane-based fund may have “unfairly overcharged” them life premiums...
29 November 2021
Financial software application provider Unitysure.com has launched an online pre-assessment platform for advisers and underwriters...
29 November 2021
APIR Systems, a provider of identifiers and data for financial products, sees an opportunity to expand into the life insurance industry following the introduction last month of design and distribution obligations laws...
22 November 2021
The Australian Securities and Investments Commission announced today that former AMP financial adviser David Fong and his Perth-based company Fong Financial Planners have each been charged with dishonest conduct...
22 November 2021
Consumers are not receiving clear explanations before purchasing life policies on the way that stepped premiums increase over time and the industry needs to improve its practices, Australian Financial Complaints Authority Senior Ombudsman Insurance Andrew Weinmann says...
22 November 2021
MLC Life has responded to the court action filed against it by the corporate regulator, saying the business will “carefully consider” the alleged failings outlined in the lawsuit...
22 November 2021
Synchron says the advice sector should not have to pay a “single dollar” to fund the proposed Compensation Scheme of Last Resort...
22 November 2021
New Zealand’s Financial Markets Authority has developed a set of three self-assessment tools to help advisers apply for full licences...
22 November 2021
The Financial Planning Association has named the winners of its annual awards recognising outstanding performances across six categories...
15 November 2021
The Australian Securities and Investments Commission has responded to stakeholder concerns over rising supervisory levies in its 2020/2l Cost Recovery Implementation Statement...
15 November 2021
The Australian Prudential Regulation Authority says it has finalised revisions to requirements and guidance relating to insurance in superannuation, with the changes to commence on July 1 as previously outlined in consultation...
15 November 2021
OnePath did not comply with the Life Insurance Code of Practice when it took 23 months – nearly double the time provided by the code – to decide on a claim for a total and permanent disability benefit...
15 November 2021
MLC Life has announced new appointments aimed at strengthening its retail offerings and provide stronger partnership to support licensees and advisers...
15 November 2021
Brady & Associates Financial Advisers financial planner Susan Buda has won the Gwen Fletcher Memorial award...
08 November 2021
A report from the Public Interest Advocacy Centre released today says the life insurance industry continues to engage in discriminatory practices against people living with mental health conditions or who have suffered symptoms in the past...
08 November 2021
AMP has agreed to sell its near-20% stake in Resolution Life Australasia, with the transaction expected to complete in the first-half of next year, subject to regulatory approvals in Australia and New Zealand...
08 November 2021
The Financial Adviser Standards and Ethics Authority is seeking feedback on its proposed amendments to Standard 3 of its Code of Ethics, in response to long-running concerns about its feasibility in practice...
08 November 2021
Nib Holdings announced today it will acquire Kiwi Insurance, a life and living insurance provider, for $43 million...