Proposed life code changes 'not enough': consumer advocates
04 October 2021
Consumer advocates say they have many concerns over proposed updates to the Life Insurance Code of Practice in a joint submission to the Financial Services Council...
Life Insurance
Treasury consults on draft laws for advice reforms
04 October 2021
Treasury is seeking feedback on its exposure draft legislation for the implementation of advice reforms as recommended by the Hayne royal commission...
Zurich appoints group insurance team leaders
04 October 2021
Zurich Australia has announced three senior leadership appointments to its Life and Investments Group insurance team...
AFA Great Advice award winners named
04 October 2021
The Association of Financial Advisers has named the winners of its Great Advice Awards...
'New beginning' for IP products as APRA measures start: industry
04 October 2021
Measures aimed at turning around the loss-making income protection insurance product line commenced this month, with the industry backing the moves imposed by the Australian Prudential Regulation Authority...
MLC rolls out new IP products as APRA measures commence
04 October 2021
MLC Life Insurance has launched a new line of income protection insurance products, offering what it says is “the right balance between benefits and affordability” for consumers...
Asteron NZ lifts trauma cover expiry ages
04 October 2021
Asteron Life New Zealand has made changes to expiry ages for Trauma Recovery Cover...
Better Advice Bill 'first step in cutting red tape': Hume
27 September 2021
Passage of the Better Advice Bill will reduce the “competing requirements” of regulatory oversights on advisers and planners, easing the compliance burden on the industry, Financial Services Minister Jane Hume said...
New AFA CEO seeks 'reset' to address challenges
27 September 2021
Association of Financial Advisers CEO Helen Morgan-Banda has called for a “reset” to overcome the challenges facing the industry...
Almost three quarters have no income protection cover: survey
27 September 2021
About 73% of Australians have no income protection policies and do not have any plans to get one, according to a survey by comparator Finder...
TAL redesigns retail income protection products
27 September 2021
TAL has rolled out a range of redesigned retail income protection solutions...
APRA finalises revisions to insurance in super prudential standard
27 September 2021
The prudential regulator says it will proceed with the requirement for independent certification of related party insurance arrangements as part of its proposed revisions to draft prudential standard SPS 250 Insurance in Superannuation...
Adviser exodus continues as numbers fall to five-year low
20 September 2021
The number of financial advisers has fallen below 20,000, with just 19,382 operating as of June 30, according to Rainmaker Information...
Reporting relief for advisers ahead of DDO start date
20 September 2021
Treasury has made some amendments to the design and distributions obligations regime that is set to commence on October 5, taking into account feedback from the advice sector...
FSC flags unpaid determination flaws in compensation scheme design
20 September 2021
The Financial Services Council has called for amendments to the proposed compensation scheme of last resort, saying it is concerned that the current design does not address the source of unpaid determinations in the advice sector...
Colonial First plans to reduce premiums
20 September 2021
Wealth management firm Colonial First State has announced plans to cut insurance premiums, following the re-appointment of AIA as its insurer partner...
Life insurance 'key' to closing NZ protection gap: Swiss Re
20 September 2021
New Zealand needs to raise its life insurance take-up rate if the country is to address its growing mortality protection gap, Swiss Re says...
PPS recruits medical chiefs
20 September 2021
Specialist life insurer PPS Mutual has appointed two Chief Medical Officers, John Cummins and Bill Monday...
FPA details DDO concerns in Treasury submission
13 September 2021
The Financial Planning Association has outlined its concerns about the incoming design and distribution obligations regime in a submission to Treasury...
Claimant with rheumatoid arthritis not entitled to trauma benefit
13 September 2021
The Australian Financial Complaints Authority has ruled an AIA customer who has rheumatoid arthritis does not qualify for a benefit payment as her condition does not meet the definition of “severe” as was spelled out in her trauma insurance policy...