ASIC bans adviser for 7 years
14 October 2019
The Australian Securities and Investments Commission has banned a Queensland-based financial adviser for seven years for inappropriate insurance advice...
Life Insurance
AMP unites banking and wealth businesses
14 October 2019
AMP Limited has merged its banking and wealth management businesses under a new banner, AMP Australia...
Super sector scrutiny coming soon
14 October 2019
The superannuation sector is set to come under political scrutiny yet again with a series of hearings to be held next month...
AMP singled out in Choice Shonky Awards
14 October 2019
AMP Superannuation has more “zombie accounts” being eaten away by insurance and fees than any other super fund, Choice says...
Raising the standards: working group takes off
14 October 2019
The Australian and New Zealand Institute of Insurance and Finance and a working group of life insurers are establishing a framework to help lift professional standards across the life insurance industry...
Taking control: MetLife and SuperFriend in claims pilot
14 October 2019
MetLife and SuperFriend are trialling a program to help claims managers provide intensified support to customers...
NZ financial advice disclosure requirements released
14 October 2019
Financial Advice New Zealand has welcomed draft regulations around new disclosure requirements for financial advisers, but says they need fine-tuning...
MLC Life recruits ex-NSW Treasury director
14 October 2019
MLC Life has appointed Andrea Forbes as Executive Lead – Relationship Management in its group insurance team...
Integrity launches group insurance for tiny business
14 October 2019
Integrity Life is launching a new combined group insurance product for small to medium businesses...
Life insurance profits on borrowed time: RBA
07 October 2019
The profitability of the life insurance sector is no longer sustainable, the Reserve Bank says...
CommInsure charged over policy hawking breaches
07 October 2019
CommInsure has been charged with 87 criminal counts relating to the illegal hawking of life insurance policies and could face a combined maximum penalty of more than $1.8 million...
Draft laws target funeral expense mis-selling
07 October 2019
The Federal Government has released draft legislation to bring funeral expenses policies under the same scrutiny as similar financial products after the Hayne royal commission heard evidence of high-pressure selling tactics...
Speculation over Westpac life sale still high
07 October 2019
Speculation is again mounting that Westpac may be considering a sale of its life insurance assets...
Removing life cover in super 'dangerous for mental health'
07 October 2019
The stripping of insurance in super from low balance accounts and young members may jeopardise the mental health of thousands of people, warns national workplace mental health organisation SuperFriend...
Mutual insurance model can save industry: Daniels
07 October 2019
Re-adopting the mutual insurance model is the key to the future viability of the life insurance industry, a new “white paper” by former financial adviser and Alliton Capital founder Barry Daniels says...
Complete reset due for Count Financial
07 October 2019
CountPlus will develop a new strategic plan, team structure and new leaders for financial advice business Count Financial as it seeks to integrate the acquired company into its business...
Pacific Life Re appoints new GM from within
07 October 2019
Pacific Life Re has promoted Tyson Johnston to the role of General Manager, Australia...
Triple award event for life industry
07 October 2019
A triple-header event recognising the life insurance industry’s efforts in health and wellness, product design and direct life will be held in Sydney on October 17...
Life code breaches double in 12 months
30 September 2019
The number of self-reported breaches of the Life Insurance Code of Practice has nearly doubled from last year, but limited resources are restricting the ability to investigate them properly...
Climate change may raise the cost of life insurance: actuaries
30 September 2019
Increased deaths and lower investment returns from climate change impacts could significantly increase the cost of life insurance, a new Actuaries Institute report warns...