Valid and binding: MetLife told to honour its policy mistake
16 November 2020
MetLife has lost a claim dispute after it accidentally issued incorrect policies and charged the wrong premiums…
Life Insurance
‘Repositioned’ FPA sticks to its five-year plan
16 November 2020
The Financial Planning Association has promised to push on with its five-year strategic plan to secure the future of the industry in Australia…
CountPlus ready for ‘new world of adviser remuneration’
16 November 2020
CountPlus has told shareholders the business is in position to thrive in the advice industry despite a number of significant challenges on the horizon, including changes to remuneration models as part of government reforms to move away from grandfathered commissions…
Mutual appoints regional business manager
16 November 2020
PPS Mutual has appointed Jason Milosevski to the role of Senior Business Development Manager in Victoria and Tasmania, reporting to state manager Shadia Kouzma…
FSC plans more changes to life code
09 November 2020
The updated Life Insurance Code of Practice will include additional changes in the form of increased support for vulnerable customers and more protections for claimants, the Financial Services Council says...
TAL outlines mental health issues for industry to consider
09 November 2020
TAL has released a white paper on mental health and the challenges the illness poses to the life insurance industry and community at large...
Adviser body calls out ‘narrow focus’ on clients in draft ethics code
09 November 2020
The draft guide for the Code of Ethics as proposed is “too narrow” by focusing only on clients who seek professional financial advice, The Advisers Association says in a submission...
NZ regulator finalises licence conditions for new advice regime
09 November 2020
The Financial Markets Authority has set out the standard conditions that New Zealand advisers must comply with when the new advice regime comes into effect on March 15 next year...
Mercer CEO appointed as FSC chairman
09 November 2020
The Financial Services Council says its board has elected Mercer Australia CEO and Pacific Zone Leader David Bryant as Chairman...
More trouble ahead for Youpla as ASIC pursues legal action
02 November 2020
Under-fire Youpla Group and its subsidiaries may have more trouble ahead for using allegedly misleading tactics to sell near-worthless funeral insurance policies to the Indigenous community...
Adviser reforms bearing fruit, FASEA says
02 November 2020
Nearly half of registered advisers have passed a mandatory exam with more than 14 months of the transition period remaining, a Senate Estimates Economics Legislation Committee hearing was told last week...
Challenger has strong start to financial year
02 November 2020
Investment group Challenger says its annuities business has had a strong start to fiscal 2021, with record quarterly annuity sales and significant progress in deploying Challenger Life’s cash balance into higher-yielding investments...
IAG’s NZ COO moves to Fidelity Life as CEO
02 November 2020
New Zealand insurer Fidelity Life has appointed Melissa Cantell as CEO, effective January 25...
NobleOak wins top Plan For Life award
02 November 2020
Direct Life insurer NobleOak has won this year’s Overall Excellence award in direct life insurance at the Plan For Life Insurance Awards...
Winning scholarship submission ‘impossible to ignore’
02 November 2020
Honor Grant-Hennessy, the Senior Group Underwriter at OnePath Life/Zurich, has been awarded this year’s ALUCA TurksLegal Scholarship...
Time for changes: Rice Warner calls for new advice regime
26 October 2020
Consultancy Rice Warner has proposed a new advice model that it says will help take the under-pressure industry forward...
DII claims paid ratio highest in two out of four sales channels
26 October 2020
Disability income insurance policies topped the claims paid ratio in two out of the four channels where the products are distributed, new data from the Australian Prudential Regulation Authority shows...
Westpac flags $406 million writedown of life business
26 October 2020
Westpac’s full-year financial results, which will be released next Monday, will contain a $406 million writedown of its life insurance business...
TAL and ClearView avoid decline in life risk premium inflow
26 October 2020
Life risk premium inflows fell 6.4% to $15.9 billion in the year to June 30 as every insurer, with the exception of market leader TAL and ClearView Life, recorded declines during the period, new data from actuaries and researchers Plan for Life shows...
Celebrity adviser Henderson sentenced
26 October 2020
Former financial planner Sam Henderson has been sentenced to a two-year good behaviour bond and fined $10,000 after being convicted of issuing defective disclosure documents and dishonest conduct...