24 August 2020
The New Zealand Court of Appeal has reduced the amount Asteron Life is entitled to recover from a self-employed insurance broker who submitted false information to support his claim for continued payment of income protection benefits...
24 August 2020
IOOF-owned RI Advice Group has been hit with a lawsuit from the Australian Securities and Investments Commission, which accuses it of failing to properly secure the business against cyber attacks...
24 August 2020
The Association of Financial Advisers says keynote and panel sessions from its October conference will be hosted on a main stage in a television-style production broadcast live from Sydney’s Museum of Contemporary Art...
17 August 2020
Tighter education requirements and COVID-19 have contributed to the seventh consecutive quarter of decreasing financial adviser numbers in Australia, research group Rainmaker Information says...
17 August 2020
The second wave of COVID-19 is driving demand for life insurance products among Australian high net worth investors, according to GlobalData’s 2020 Global Wealth Managers Survey...
17 August 2020
Life insurers cannot resolve their conflict of interest in decisions about rehabilitation and treatment of injured workers and should not be allowed direct influence over medical bill payment, law firm Slater and Gordon says...
17 August 2020
The aggressive chase for retail life customers through front-loaded discounts has resulted in “highly undesirable outcomes” for consumers, a study commissioned by PPS Mutual has found...
17 August 2020
Earnings at the Life business just sold by AMP jumped 158% to $129 million in the first half...
17 August 2020
Challenger has posted a full-year statutory net loss of $416 million after pandemic-fuelled volatility in global financial markets hammered the investment books of its life arm...
17 August 2020
AIA Australia has signed a three-year sponsorship deal with Australian Football League club North Melbourne...
10 August 2020
At least 5000 superannuation fund members will collectively receive more than $3.6 million in compensation after they were wrongfully charged higher “smoker” premiums for life insurance, the Australian Securities and Investments Commission says...
10 August 2020
A move to allow greater involvement in worker rehabilitation by life insurers is a “dangerous Trojan horse” and part of a push to expand powers so fewer claims will need to be paid out, law firm Maurice Blackburn Lawyers alleges...
10 August 2020
New Zealand’s life insurance sector is poised to grow premiums by around 1-2% over each of the next three years, according to S&P...
10 August 2020
AMP Australia CEO Alex Wade has departed the company with immediate effect...
10 August 2020
The Reserve Bank of New Zealand’s insurance supervision team has published a detailed outline of the complicated new operating model structure it wants put in place to permit AMP’s sale of its Life business...
10 August 2020
Advisers in New Zealand will be excluded from fair conduct programs under amendments made last week to a bill designed to improve culture and practices in the financial services industry...
03 August 2020
Life insurers paid out $12.06 billion last year from 101,821 claims, with income protection and disability income accounting for the biggest portion at $4.34 billion, the Financial Services Council says...
03 August 2020
Life insurers have called for legislative reforms to allow the industry to pay for mental health treatments, as new data from the Financial Services Council show the biggest portion of total and permanent disability payments last year went to claims for the illness...
03 August 2020
The Australian Financial Complaints Authority has ruled in favour of a complainant whose claim for benefit payment was rejected in March last year by Westpac Life Insurance...
03 August 2020
AMP Financial Planning was hit with two new class actions last week, coming under fire from both its adviser network and buyers of its insurance products...