MBS Insurance gears up for 2022
13 December 2021
Adviser MBS Insurance says it will finish the year on a “positive” note, with the business positioned to build further on the changes that were made a few years ago to strengthen its offerings...
Life Insurance
MetLife makes diversity inclusion index
13 December 2021
MetLife Australia has been recognised for its diversity and inclusion workplace practices, joining a club of employers who met the prescribed benchmarks to be listed in the Inclusion@Work Index 2021-2022...
Retrospective exclusion allowed after disclosure breach: AFCA
06 December 2021
A Westpac life policyholder whose claim for rheumatoid arthritis benefit payments last year was unsuccessful after the insurer retrospectively applied an exclusion for the ailment has lost his complaint...
Canberra urged to act on Productivity Commission's group cover review recommendation
06 December 2021
Super Consumers Australia has renewed calls for an inquiry into life insurance policies held via superannuation accounts, urging the Federal Government to act on Productivity Commission proposals...
ASIC releases information sheet on limited advice
06 December 2021
The Australian Securities and Investments Commission has released an information sheet on limited advice, after a targeted consultation with the industry...
Count Financial adds Victorian adviser to national network
06 December 2021
Victoria-based Financial Momentum has joined Count Financial’s national advice network with effect from this month...
COVID disruptions boost risk of undetected skin cancer
06 December 2021
Australians have delayed getting professional skin checks during the disruption of COVID and are putting themselves at risk of skin cancer going undetected, TAL says...
Individual DII snaps loss streak as risk products make 'notable improvements'
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...
ALUCA white paper sets out individual DII best practice approach
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...
Class action alleges QSuper overcharged life premiums
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...
Unitysure.com launches pre-assessment platform for advisers
29 November 2021
Financial software application provider Unitysure.com has launched an online pre-assessment platform for advisers and underwriters...
APIR looks to build traction in life insurance industry
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...
Banned WA adviser charged with dishonest conduct
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...
Customers 'deserve better' on stepped premiums: AFCA
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...
MLC will 'carefully consider' ASIC action over alleged insurance failures
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...
Synchron against advisers funding planned compensation scheme
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...
NZ regulator sets up checklist licensing guide for advisers
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...
FPA names annual award winners
22 November 2021
The Financial Planning Association has named the winners of its annual awards recognising outstanding performances across six categories...
ASIC explains levies in cost recovery statement
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...
APRA finalises insurance in super prudential changes
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...