Resolution Life deepens investment expertise with new recruits
08 August 2022
Resolution Life Australasia has made key appointments to its investment team...
Life Insurance
FSC names new directors
08 August 2022
The Financial Services Council has announced the appointment of two new directors to its board...
TAL seals Westpac life acquisition
01 August 2022
TAL Dai-ichi Life Australia announced today the completion of its acquisition of Westpac’s Australian life business, a year after the two parties agreed to the deal...
Financial planners say drop in complaints 'encouraging'
01 August 2022
The Financial Planning Association (FPA) has responded to the latest complaints data, saying a sharp drop in disputes is an “encouraging” development for the profession...
Resolution Life Australasia names new CEO
01 August 2022
Resolution Life Australasia says Tim Tez will join the business as CEO this February, taking over from Megan Beer...
Advisers face 'unfair' regulatory burden as 'finfluencers' grow
01 August 2022
The Advisers Association has called out the “unfair” regulatory burden facing the profession, saying it hopes the Quality of Advice Review will address the matter in its ongoing examination of the industry...
Minister, Quality of Advice reviewer headline AFA conference
01 August 2022
Financial Services Minister Stephen Jones and Michelle Levy, who is leading Treasury’s Quality of Advice Review, are on the list of speakers for the Association of Financial Advisers upcoming National Conference...
New APRA super data will provide insurance arrangements
01 August 2022
The Australian Prudential Regulation Authority will launch a series of new superannuation data publications from next month, providing information on insurance arrangements, expenses and member demographics...
'Stapling' excluded from Treasury review of super reforms
25 July 2022
The Federal Labor Government has given the strongest indication yet that it backs the “stapling” measure that was introduced last year as part of the Your Future, Your Super reforms...
Claims support 'key' part of adviser offering, report finds
25 July 2022
About 77% of advisers agree helping their clients through claims is a key part of their offering and 78% believe they can provide a lot of value at claim time, according to new research from life insurer TAL...
'Inappropriate advice' led to reduced IP cover
25 July 2022
A complainant who says “inappropriate advice” from his adviser led to a “loss of cover” for income protection benefits has won his dispute...
Certe acquires Genesis Financial Partners
25 July 2022
Specialist insurance advisory firm Certe announced today it has acquired financial advisory business Genesis Financial Partners, creating an integrated professional services firm with more than 20 staff including nine advisers...
Provide farmers with advice services, financial planners urge
25 July 2022
The next National Drought Agreement should include provision of advice services to help rural communities recover financially from dry spells, the Financial Planning Association says...
Life industry profitability hit by reserve strengthening
18 July 2022
Australia’s life industry suffered a decline in profitability last year, dragged down mainly by $US800 million of reserve strengthening, according to Swiss Re’s latest Sigma report...
New study examines advice reform impact on lower socio-economic group
18 July 2022
A University of South Australia study has found the high cost of financial planning services is preventing lower socio-economic groups from accessing advice for life insurance and other financial investments that could greatly improve their retirement security...
Claimant who used cocaine during 'boys' weekend' in Vegas loses dispute
18 July 2022
A complainant who did not disclose he had previously used cocaine during a “boys' weekend” trip to Las Vegas in his application form for life insurance has lost his claims dispute...
Actuaries suggest new 'guidance' category for consumers
18 July 2022
The Actuaries Institute has proposed creating a new category called “guidance” to help consumers with their financial planning needs...
AIA announces digital partnership with NZ platform
18 July 2022
AIA New Zealand has launched a digital direct partnership with insurance platform Quashed to distribute its AIA Starter Plans products...
Court finds Select engaged in 'unconscionable conduct' to sell life, funeral products
11 July 2022
Select AFSL and its sales partners, BlueInc Services and Insurance Marketing Service, engaged in unconscionable conduct when selling life, funeral and accidental injury insurance, the Federal Court has found in proceedings launched by the Australian Securities and Investments Commission...
FSC sets out why commissions should stay
11 July 2022
The exemption to the ban on conflicted remuneration for life risk insurance products should stay, the Financial Services Council says in a detailed submission explaining why the current commission-based model helps consumers...