MBS Insurance spreads out to WA
14 September 2020
Risk advisory group MBS Insurance has opened an office in Perth to grow its business in WA...
Life Insurance
Zurich, OnePath offer advisers wellbeing toolkit
14 September 2020
Zurich Life & Investments and OnePath Life have launched a new toolkit offering wellbeing support to combat rising levels of mental ill health among financial advisers...
TAL offers webinar to prepare advisers for FASEA
14 September 2020
TAL has set up a free webinar to help planners prepare for the Financial Adviser Standards and Ethics Authority exam...
FPA calls out rising costs in pre-budget submission
07 September 2020
The Financial Planning Association has again warned that advisers are struggling under the weight of rising compliance costs, forcing them to charge higher fees in order to remain in the profession...
Woman who cancelled illness policy wins dispute against MLC
07 September 2020
The Australian Financial Complaints Authority has ruled a woman who was diagnosed with a malignant brain tumour months after cancelling her critical illness cover is entitled to make a claim...
OnePath wins case over man who lied about drug use
07 September 2020
OnePath has won a court case over a $2.63 million claim on a life insurance policy bought by man who lied about his drug use and later jumped to his death from a car park after becoming embroiled in fraud allegations...
Class action aims to recover ‘significant sums’ from ex-CBA firm
07 September 2020
Law firm Piper Alderman has filed a class action against Count Financial, alleging the former Commonwealth Bank-owned advice firm failed its clients on several counts...
TAL sees strong response to COVID support measures
07 September 2020
TAL says the pandemic support measures it introduced with seven superannuation fund partners have seen a strong uptake from clients...
Disability and COVID push life insurance into $1.6 billion loss
31 August 2020
The life industry recorded a “significant” net loss after-tax of $1.6 billion for the year to June, hammered by the “persistent poor performance” of individual disability income insurance and other risk products...
Insurers ‘must champion a digital-first mindset’
31 August 2020
Human connection in the right channel at the right time is the best way to attract and retain financial advice customers, a new report says...
NAB sells MLC Wealth for $1.4 billion
31 August 2020
NAB announced today an agreement to sell its wealth arm for $1.44 billion to IOOF Holdings, more than a year after holding off its divestment plan because of the fallout from the Hayne royal commission...
ClearView Life earnings drop by more than half
31 August 2020
ClearView’s earnings in the year to June 30 took a hit from income protection and death claims, sending net profit in its Life Insurance business down 53% to $10.4 million...
ASIC bans Adelaide adviser for five years
31 August 2020
Adelaide-based financial adviser Francesco Romano has been banned by the regulator from providing financial services for five years...
Celebrity adviser admits to lying about his degree
31 August 2020
Former financial planner Sam Henderson has pleaded guilty to charges laid by the corporate regulator that he lied to clients about holding a Master of Commerce degree...
CBA accused of hawking ‘overpriced insurance’ in new class action
31 August 2020
Law firm Shine Lawyers says tens of thousands of customers have joined the latest class action against Commonwealth Bank to seek compensation for “overpriced insurance policies” allegegedly sold by its financial planners...
CBA hit with new class action
24 August 2020
Commonwealth Bank hit with another class action, with the latest lawsuit alleging the lender’s financial planners sold customers “overpriced inhouse” life insurance products...
New report predicts more changes in group insurance market
24 August 2020
Further shakeups are expected in the $6.4 billion group insurance market, a new report from actuaries and researchers Plan for Life says...
Advisers push industry-wide mental wellbeing study
24 August 2020
The United Financial Advisers Association has called for a study into the mental wellbeing of advisers, who have been forced to grapple with years of reforms covering industry regulations, education and remuneration...
FSC points to retirement savings hit from life taxes
24 August 2020
The Financial Services Council has emphasised to a NSW inquiry that state duties on life insurance products erode retirement savings in superannuation by $235 million a year...
Zurich makes key appointments
24 August 2020
Zurich Life and Investments has made several key appointments in its operational team, combining its underwriting and claims team as well as that of OnePath under one leadership structure...