AFCA dismisses complaint over rejected terminal illness claim
07 June 2021
A Swiss Re Life and Health insurance policyholder whose claim for a terminal illness benefit was declined has lost her dispute with the insurer...
Life Insurance
Zurich goes into underwriting partnership with ALI Group
07 June 2021
Zurich Financial Services has entered into a long-term underwriting partnership with ALI Group, a provider of risk protection products to Australian home and property buyers via mortgage brokers...
MetLife auditor named Banking & Finance Oath ambassador
07 June 2021
MetLife Australia’s Aoife Donnelly has been crowned a Banking and Finance Oath Young Ambassador...
Individual DII, risk products record $164.7 million loss
31 May 2021
Key risk products continue to be an area of concern for the life insurance industry, according to new figures from the Australian Prudential Regulation Authority...
Advisers raise concern over 'impossible' fee disclosure legislation
31 May 2021
The Association of Financial Advisers says it has reached out to the corporate regulator and Treasury to share its concerns over the interim arrangements for new fee disclosure statement compliance...
AMP 'carefully' considering ASIC allegations
31 May 2021
AMP has responded to legal proceedings launched against it by the corporate regulator over the alleged deductions of life premiums and advice fees from the accounts of more than 2000 deceased customers...
Draft super regulations have actuaries worried over potential insurance impact
31 May 2021
The Actuaries Institute has voiced concerns at certain aspects of the draft regulations for a raft of proposed reforms to the superannuation system, saying they have implications for Australians who have group insurance...
Industry reforms take toll on adviser mental wellbeing: study
31 May 2021
Financial advisers have poor mental health, suffering burnout, depression and other related ailments because of the stress from their work, a new study has found...
Marsh, Integrity Life pilot mental health workshops
31 May 2021
Mercer Marsh Benefits and Integrity Life have joined forces to deliver workplace wellbeing workshops specifically designed for SME employers from various industries and sectors...
MetLife partners with NSW Royal Botanic Gardens, Domain Trust
31 May 2021
MetLife Australia has become a principal partner of the Royal Botanic Gardens and Domain Trust...
Actuaries set out 'path forward' for individual DII market
24 May 2021
The Actuaries Institute has released its final report looking at ways to return the ailing individual disability income insurance market to a sustainable path...
Treasury paper sets out proposed funding levies for life industry
24 May 2021
Treasury is seeking submissions on its proposal to collect $24.1 million in total levies from the life insurance and friendly societies industries in the next financial year...
Woman loses dispute over death benefit claim on cancelled policy
24 May 2021
A woman whose husband died seven months after his life insurance policy was cancelled due to non-payment of premiums has lost a dispute over a death benefit claim...
ASIC cancels Direct My Wealth licences
24 May 2021
ASIC has cancelled the Australian financial services and credit licences of Victorian-based Direct My Wealth after it failed to lodge its 2020 audited financial accounts and its annual compliance certificate as required...
Kaplan offers $100 per subject off 2021 enrolment fees
24 May 2021
Financial services education provider Kaplan Professional is offering $100 scholarships to financial advisers who enrol in a Kaplan Professional higher education financial planning subject in July, August or November...
'Vulnerable' Indigenous man wins dispute against ACBF
24 May 2021
Funeral insurance provider Aboriginal Community Benefit Fund has again been found to have used misleading and deceptive tactics to sell products to vulnerable Indigenous consumers who thought they were buying policies designed for their community...
AIA Australia donates $20,000 to help COVID-stricken India
24 May 2021
AIA Australia staff will join global initiative Relief Run in Melbourne in June as the insurer contributes $20,000 to the charity raising lifesaving funds for the people of India devastated by COVID-19...
Budget response: industry backs legacy product measure, mental health funding
17 May 2021
Moves by the Federal Government to set up a working group to look at legacy life products and increase funding for mental health support services have been welcomed by the industry...
Funeral insurer engaged in misleading conduct: AFCA
17 May 2021
The Australian Financial Complaints Authority has ruled against Aboriginal Community Benefit Fund in two separate disputes lodged against the funeral insurer...
APRA defers deadline for DII sustainability measure implementation
17 May 2021
Individual disability income insurance providers have been given more time by the prudential regulator to implement the policy contract term measure, one of three key actions they must undertake to shore up the sustainability of the product line...