Code breaches fall but under-reporting remains a concern
05 October 2020
Life Insurance Code of Practice breaches in the last financial year fell 29% to 171, including 44 that were reported by subscribers as significant...
Life Insurance
Personalise, innovate, reinvent: advice for life insurers
05 October 2020
Consultancy McKinsey has outlined three ways in which life insurers can re-establish a central partnership in customers’ lives...
WA adviser charged with dishonest conduct
05 October 2020
The Australian Securities and Investments Commission has commenced civil action against WA adviser Rahul Goel, alleging he acted dishonestly while running his financial services company AR Wealth and Finance last year...
ALUCA names excellence award finalists
05 October 2020
The Australasian Life Underwriting and Claims Association has announced the contenders for its annual excellence awards...
CBA receives further payment from CommInsure sale
05 October 2020
Commonwealth Bank of Australia has received a further $450 million from AIA as part of the sale of its Australian life insurance business CommInsure...
Industry feeling mental strain of remote working
05 October 2020
About 79% of life insurance professionals are experiencing more job stress since work from home arrangements started in late March because of the pandemic, according to research from the Australasian Life Underwriting and Claims Association...
Integrity Life raises $43 million
05 October 2020
Sydney-based Integrity Life has secured $43 million to support further development of its digital-led insurance offering...
Olympian to speak at AFA’s October conference
05 October 2020
The Association of Financial Advisers has named Australian Olympic champion Cathy Freeman as the keynote speaker at its Vision Conference, which will be broadcast from Sydney’s Museum of Contemporary Art on October 14-15...
Correction: MLC Chief Life Insurance Officer
05 October 2020
An article in last week’s Life Insurance section confused the job titles and backgrounds of MLC Chief Life Insurance Officer Sean McCormack and Chief Group Insurance Officer Sean Williamson...
Actuaries present proposals to save DII market
28 September 2020
The Actuaries Institute has published for consultation a report proposing sweeping reforms for the ailing retail disability income insurance market...
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”...
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...