MLC creates new life insurance division
28 September 2020
MLC has created a new Life Insurance Division in a shake-up that new Chief Life Insurance Officer Sean McCormack says recognises its current service experience “is not acceptable”...
Life Insurance
ASIC extends COVID relief for advisers
28 September 2020
A temporary measure to enable financial advisers to provide consumers with affordable services during the pandemic crisis has been extended by six months to April 15 next year...
Asteron fills new head of life role
28 September 2020
Suncorp New Zealand has promoted Grant Willis to a newly established Head of Life role at Asteron...
ASIC offers relief for Victoria’s locked down advisers
28 September 2020
Advisers in Victoria have been given more time to comply with fee disclosure statement and renewal notice obligations under temporary changes made by the Australian Securities and Investments Commissions...
Report on NZ advisers sparks ‘strong action’ warning
28 September 2020
A Financial Markets Authority report on New Zealand’s financial advice sector has found weaknesses in areas such as conduct and culture, prompting the regulator to warn it would take “increasingly strong action” against those who fail to remedy the problems...
Reinsurer appoints Asia Pacific chief for life and health
28 September 2020
Bermuda-based PartnerRe has appointed John Mok as CEO, Life & Health Asia Pacific, with effect from February...
Rising mental health claims spark premium changes
21 September 2020
Life insurers have adjusted premiums for total and permanent disability and income protection products to support the growing cost of mental health claims, according to research house Dexx&r...
Advice industry ‘faces perilous outlook’
21 September 2020
Connect Financial Service Brokers CEO Paul Tynan has warned the financial advice industry faces a “dark and uncertain” outlook unless lawmakers and stakeholders take urgent action to address the profession’s problems...
MLC Life pays AFL footballer’s $1.4 million claim
21 September 2020
MLC Life has paid a $1.4 million total and permanent disability insurance claim to former AFL player Shaun Smith for brain damage caused by match concussions...
Managed funds recover in June quarter
21 September 2020
Funds under management recovered in the June quarter, clawing back some of the losses made in the preceding three-month period when investor sentiment was jolted by COVID-19, data from actuaries and researchers Plan for Life show...
PPS Mutual names regional BDM
21 September 2020
Life insurance specialist PPS Mutual has appointed Stuart Meyers as Senior Business Development Manager for NSW and ACT...
Coronavirus fears ‘raise demand for financial advice’
14 September 2020
Concerns over the economic impact of the virus-induced recession will see more Australians engaging with financial advisers over the next two years, according to research house Investment Trends...
AFCA sides with AMP in terminal illness claim dispute
14 September 2020
An AMP Life policyholder who disputed the insurer’s decision to deny her claim for terminal illness benefit has lost her case before the Australian Financial Complaints Authority...
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...
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...