Suicide text not enough to stop payout
01 July 2024
A man’s suicide note stating he wanted all assets to pass to his family and not his partner does not override an earlier death benefit nomination, a court has ruled...
Life Insurance
Former ASIC director joins Zurich’s life advice business
01 July 2024
Zurich Financial Services Australia has appointed Pauline Vamos as chair and independent director of Zurich Assure, the insurer’s life insurance advice business...
Advisers detail ways to tackle ‘insidious’ financial abuse
01 July 2024
Privacy law reforms must strike the right balance to ensure protection for domestic violence victims, financial advisers say in a submission to a parliamentary committee...
MetLife hails sustainability progress
01 July 2024
MetLife has released its annual sustainability report, detailing the insurer’s efforts to meet its commitments to customers, employees, shareholders and communities...
Profitability improving despite disability income slide
24 June 2024
Life insurers are expected to achieve “modest top line” growth this year and next despite a turnaround in disability income insurance performance appearing short-lived, S&P Global Ratings says...
Zurich reveals life claims trends
24 June 2024
Cancer cases had the highest average claim and musculoskeletal conditions were the largest type by volume last year, according to Zurich life insurance data...
TAL individual life chief promoted to group CEO
24 June 2024
TAL chief executive for individual life Fiona Macgregor will become group CEO and MD from October 1...
Funeral cover sale ‘not inappropriate or unlawful’
24 June 2024
A woman who argued an insurer should not have let her mother buy funeral cover for her sister has lost her dispute...
Industry backs law reforms to protect domestic violence victims
24 June 2024
Life insurers have urged authorities to strengthen regulatory protections for family and domestic violence victims...
TAL boosts quote alteration process for advisers
24 June 2024
TAL has introduced a real-time alteration quoting feature for advisers, based on feedback from its advice partners...
Industry backs move to give ‘simple answers to simple questions’
17 June 2024
The federal government’s plan to let life insurers provide “simple” advice will be game-changing for the industry and consumers too, according to the sector’s peak body...
TAL ordered to reverse claim denial over cocaine use
17 June 2024
Life insurer TAL has lost a claim dispute over undisclosed cocaine use after it relied on evidence from a GP who supplied contradictory reports...
Super Members Council sorry over ‘dodgy’ advisers comment
17 June 2024
Financial Advice Association Australia has acknowledged an apology from the Super Members Council after the peak body claimed some advisers were “dodgy”...
ASIC cancels Sydney adviser’s licence
17 June 2024
The Australian Securities and Investments Commission has cancelled the licence of Sydney-based financial services provider Sug Ou Jeung...
Industry urged to do more for family violence victims
03 June 2024
The Life Code Compliance Committee has urged the industry to go beyond base requirements and better support customers who are victims of domestic violence...
Rising interest rates lift life earnings prospects
03 June 2024
The outlook for life insurers has improved after central banks turned hawkish, raising interest rates after years of near-zero approaches, the Swiss Re Institute says in a new report...
Industry names excellence awards finalists
03 June 2024
The Australasian Life Underwriting and Claims Association has announced the contenders for its annual excellence awards across 10 categories...
Sector has its say on $22.1 million APRA levy
03 June 2024
Life insurers and friendly societies are expected to chip in about $22.1 million to fund the Australian Prudential Regulation Authority’s supervision of the sector next year, Treasury says...
Pacific Life Re seals reinsurance pact with Japanese insurer
03 June 2024
Pacific Life Re has signed a reinsurance agreement with Japan’s Tokio Marine & Nichido Life Insurance to cover in-force whole-of-life policies...
NZ regulator warns over ‘tick-box’ compliance
03 June 2024
New Zealand’s Financial Markets Authority has urged advisers to address lapses identified in its review of compliance with the regulatory regime...