ALUCA names excellence award contenders
03 May 2021
The Australasian Life Underwriting and Claims Association has announced the finalists for its annual excellence awards across 10 categories...
Life Insurance
Treasury consults on draft regulations for super reforms
03 May 2021
Treasury has released for consultation the exposure draft regulations for a raft of proposed reforms to the superannuation system, including a so-called “stapling” measure that aims to save workers from paying unnecessary account fees and group insurance premiums...
MetLife offers premium waiver to flood-affected policyholders
03 May 2021
MetLife Australia will waive premiums for three months to provide relief to customers who have been affected by recent floods in New South Wales and Queensland...
TAL’s Claims Assist on offer at super fund partners
03 May 2021
TAL has rolled out its Claims Assist digital service to superannuation fund partners to help their members more easily manage claims...
ASIC says IOOF commits to remediation action
03 May 2021
IOOF has committed to take remedial action related to licensees Bridges Financial Services and RI Advice Group, the Australian Securities and Investments Commission says...
ClearView lures Zurich executive for new strategy role
03 May 2021
ClearView Wealth has appointed Maria Falas to a new Head of Life Strategy and Transformation position...
Bozenna Hinton departs TAL for GM role at MLC Life
03 May 2021
MLC Life Insurance has appointed Bozenna Hinton as its new GM, Product, Pricing & Retail Insurance Proposition, responsible for the insurer’s portfolio, including a new income protection product to be launched later this year...
Future of life commissions in spotlight as Government outlines policy focus
26 April 2021
A planned separate review of the Life Insurance Framework – which caps commissions paid to advisers - will now be conducted as part of a broader examination into quality of advice offered to consumers...
Latest DII claims paid ratio sparks another APRA warning
26 April 2021
Disability income insurance policies have the highest claims paid ratio for all distribution channels, prompting the prudential regulator to issue another warning about the sustainability of the troubled line...
Treasury calls for feedback on proposed adviser disciplinary body
26 April 2021
Treasury has released for consultation its draft legislation for stronger oversight of the financial advice sector, including the establishment of a single disciplinary body as recommended by the Hayne royal commission...
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...
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...