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...
03 August 2020
Cancer made up the majority of lump sum payments to policyholders last year for terminal illness or death claims lodged, the Financial Services Council says...
27 July 2020
Changes to the way life insurers settle mental health claims may be required as part of efforts to improve the sustainability of income protection products, the industry was told today...
27 July 2020
The Government must take a “balanced regulatory approach” to reform the life industry to avert a worsening underinsurance problem, according to new research commissioned by major life insurers and peak bodies...
27 July 2020
Participating life insurance companies have extended two support initiatives introduced when COVID-19 first struck Australia in March, the Financial Services Council announced today...
27 July 2020
A lawyer has called for the Life insurance Code of Practice to be amended so it provides “appropriate and readily accessible” contact details for company representatives...
27 July 2020
Nippon Life has recorded an impairment loss on its 80% shareholding in consolidated subsidiary MLC Life...
27 July 2020
Major training group Kaplan Professional will freeze its retail enrolment subject fees and offer negotiated pricing for corporate groups as part of its support for financial advisers during this difficult economic period...
27 July 2020
MetLife’s 360Health has won the Gold Stevie Award for innovation in health and wellness at the seventh annual Asia-Pacific Stevie Awards...
20 July 2020
The Financial Services Council has supported calls to take advantage of an opportunity presented by turmoil in Hong Kong to make Australia an international financial services hub...
20 July 2020
Overall life risk premium inflows fell 3.6% to $16.3 billion for the year to March from a year earlier, as a number of life insurers recorded declines, according to data compiled by actuaries and researchers Plan for Life...
20 July 2020
Standard & Poor’s has lowered its rating on AMP Group Holdings Limited one notch to BBB, from BBB+, after the $3 billion sale of its life insurance business to Resolution Life earlier this month...