Life industry launches professional standards framework
26 April 2021
An industry-wide set of professional standards has been introduced for life insurers, a first for the sector...
Life Insurance
AFA releases advisory on claims handling regime
26 April 2021
The Association of Financial Advisers has sent an advisory to members explaining how the new claims handling regime will apply to them...
‘Stapling’ super members to one account will affect insurance coverage: Cbus
26 April 2021
Industry super fund Cbus has again flagged its concern over proposed legislation that will put an end to working Australians having multiple superannuation accounts...
Financial advisers in vogue, MetLife says
26 April 2021
MetLife is encouraging financial advisers to build on a swell of consumer goodwill and demand for advice, driven by COVID, and says those who are proactive in servicing their clients will be rewarded...
Challenger ‘significantly’ adjusts annuity pricing
26 April 2021
Challenger says it is making significant adjustments to the pricing of its annuities in response to new investment conditions, notably a sharp decline in credit spreads...
TAL offers award-winning mental health service to customers
26 April 2021
TAL has partnered with virtual healthcare provider Teladoc Health to offer extra mental health support...
AIA hosts mental health roundtable for AFL players
26 April 2021
AFL players and executives have shared their experiences coping with mental health challenges during the pandemic in a roundtable discussion co-hosted by life insurer AIA...
Advisers push for ‘bold’ reforms to cut costs
19 April 2021
Advisers have called for “bold and fundamental changes” to the legislative and regulatory framework governing the sector, including the classification of advice into either general information or personal advice...
ASIC signals advice guidance changes on the cards
19 April 2021
The corporate regulator has flagged possible changes to the way its guidance is “structured and set” for the provision of advice to consumers, following a consultation with advisers, academics and other industry stakeholders...
Advisers call for ‘further analysis’ of breach reporting regime
19 April 2021
Financial advisers have “serious concern” with the new breach reporting regime that will be introduced in October, warning the legislation in its present form could lead to increased operating costs that may have to be passed on to consumers...
Humans still trump bots when it comes to financial planning
19 April 2021
Industry reservations over machine-generated advice still run deep, with many pointing out humans retain an edge over algorithms when it comes to financial planning, according to submissions received by the corporate regulator...
FASEA chairman reappointed
19 April 2021
Catherine Walter has been reappointed part-time Chairman of the Financial Adviser Standards and Ethics Authority...
ASIC extends COVID relief measure for advisers
19 April 2021
The Australian Securities and Investments Commission will extend one of three COVID temporary relief measures aimed at helping advisers provide affordable services to consumers during the pandemic...
FMA gives advice provider breakdown under new regime
19 April 2021
New Zealand’s Financial Markets Authority has provided a breakdown of financial advice providers since new laws governing the sector came into effect last month...
MLC Life hires senior finance GMs from Integrity, TAL
19 April 2021
MLC Life Insurance has made two senior additions to its finance team in newly-created management roles...
APRA proposes action to improve oversight of offshore life reinsurers
12 April 2021
The prudential regulator is acting on its long-running concerns over the increased use of offshore reinsurers, seeking feedback for its plans to revise a key capital standard after an initial round of consultation in 2019...
FSC prepares members for design and distribution regime
12 April 2021
The Financial Services Council and its members have developed templates and industry data standards in preparation for design and distribution obligations laws that will take effect on October 5...
CommInsure purchase will boost AIA: S&P
12 April 2021
The Commonwealth Bank of Australia has wrapped up the sale of CommInsure Life, receiving a final payment of $100 million from AIA Australia...
Allianz tops customer satisfaction survey
12 April 2021
Allianz scored best in a survey of customers with life insurance policies, achieving a satisfaction rating of 87.3% over the 12 months to February, according to research firm Roy Morgan...
MetLife announces partnership to expand health program
12 April 2021
MetLife Australia will expand its 360Health program under a new partnership with virtual health provider Teladoc Health...