Lost life revenue hits Westpac cash earnings
04 November 2019
Westpac’s decision to abandon the financial advice sector has caused a 4% drop in cash earnings from reduced life insurance premiums and higher insurance claims...
Life Insurance
Challenger investment in IFAs helps counter annuities slump
04 November 2019
Challenger annuity sales by independent advisers are up by 26% as the financial services company invests in reaching more advisers and broadening its distribution channels to counter a weak financial advice market...
TAL takes preventative mental health program to super funds
04 November 2019
TAL is launching an online preventative mental health program for super fund members...
Bill could cost 1.6 million their life cover
28 October 2019
About 1.6 million people are likely to lose life cover by 2021 because of the Putting Members’ Interests First bill, which makes insurance opt-in for low-balance super accounts and young members...
Adviser groups lash 'confusing' FASEA ethics code
28 October 2019
Both the Association of Financial Advisers and the Financial Planning Association say the ethics guidance produced by the Financial Adviser Standards and Ethics Authority is confusing and out of touch with current laws...
Call to ban approved product lists
28 October 2019
Life insurance approved product lists should be banned by the regulator, according to a new paper commissioned by ClearView...
TAL launches online claims hub
28 October 2019
TAL has launched a digital claims platform to support and educate policyholders through a claims process. It will complement the TAL claims team...
Fidelity profits down in claims rise
28 October 2019
The underlying profit of New Zealand insurer Fidelity Life has fallen to $NZ13.6 million from $NZ19.2 million last year, amid a multi-million dollar increase in net claims...
Zurich wins group insurance mandate
28 October 2019
Zurich has been given a mandate for group life insurance from industry super fund Energy Super...
ClearView fills senior ranks
28 October 2019
ClearView has appointed Judilyn Beaumont to the dual role of General Counsel and Company Secretary...
TPD cover 'is essentially junk insurance'
21 October 2019
A scathing report into Total and Permanent Disability insurance has found the sector riddled with industry-wide problems in design and claims-handling processes that have left it little better than junk insurance...
ASIC chases information on grandfathering
21 October 2019
The Australian Securities and Investments Commission is asking product providers for information about their grandfathered commissions arrangements in the lead up to the ban in January 2021...
Relief: regulator defers advisers’ compliance obligations
21 October 2019
The Australian Securities and Investments Commission will provide regulatory relief for advisers from current compliance scheme obligations, following the Government decision to establish a single disciplinary body for the sector...
Challenger still fighting domestic annuities slump
21 October 2019
Challenger’s total life net flows have jumped $766 million over the first quarter of the financial year, thanks to a strong performance in Japanese annuities and other life sales. The overseas performance contributed 5.2% growth to their life book, offsetting disappointing results at home...
MetLife staff take the oath
21 October 2019
More than 40% of MetLife staff have taken the Banking and Finance Oath to help rebuild the industry’s reputation, the insurer says...
NZ advisers staying put after licence changes
21 October 2019
Most New Zealand financial advisers plan to stay in the industry after the new financial advice licence regime starts next year, according to a recent survey...
AFA life awards coming up
21 October 2019
The Association of Financial Advisers will present its annual Life Company of the Year and Consumer Choice Awards next month...
FPA names finalists for awards
21 October 2019
The Financial Planning Association has named finalists across six different categories for its annual FPA Awards...
Industry hits out at Canberra over new disciplinary body
14 October 2019
The Government’s decision to set up a disciplinary system for financial advisers appears to have blindsided the industry, which had been preparing for the launch of its own monitoring scheme on January 1...
ASIC expects to release TPD findings this month
14 October 2019
The Australian Securities and Investments Commission expects to release this month its findings on the industry’s handling of total and permanent disability claims, a spokesman told insuranceNEWS.com.au today...