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Life Insurance

23 months 'too long' to decide on claim: AFCA

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...

MLC names new retail executive appointments

15 November 2021

MLC Life has announced new appointments aimed at strengthening its retail offerings and provide stronger partnership to support licensees and advisers...

Report calls out 'mental health discrimination' by life industry

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...

AMP set for life exit with divestment move

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...

FASEA consults on conflicts of interest code amendments

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...

Nib acquires Kiwi Insurance

08 November 2021

Nib Holdings announced today it will acquire Kiwi Insurance, a life and living insurance provider, for $43 million...

ASIC releases record of advice guidance

08 November 2021

The Australian Securities and Investments Commission has released an information sheet on records of advice and three examples to provide clarity to advisers about their obligations when giving personal advice to clients...

CountPlus seals acquisition of Accurium

08 November 2021

Accountant and adviser group CountPlus has completed its $9 million acquisition of Accurium, the largest supplier of self-managed superannuation fund actuarial certificates in Australia with a 45% market share...

FPA seeks female mentoring program applications

08 November 2021

The Financial Planning Association of Australia has launched a mentoring program to support women and is calling for applications from members to become both mentors and mentees next year...

AIA partnership offers health mentor service

01 November 2021

AIA Australia has partnered with Medix Global, an international digital healthcare management company, to offer its eligible customers a personal health mentor and navigation service...

AFA names new national president

01 November 2021

Association of Financial Advisers Vice President Sam Perera has been named National President, taking over from Michael Nowak, who stepped down from the role...

ASIC sues former Freedom executives for alleged sales misconduct

25 October 2021

The Australian Securities and Investments Commission says it has commenced court action against two former Freedom Insurance executives, alleging they breached conflicted remuneration and other laws to drive sales at the expense of clients...