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Life Insurance

Disability income dominates claims ratio stats

27 April 2020

Disability income insurance policies have the highest claims paid ratio for last year in two out of the four channels where the products are sold, according to the latest update from the Australia Prudential Regulation Authority...

FSC seeks consent talks extension amid virus impact

27 April 2020

The Financial Services Council has called for further consultation on advice fee consents and independence disclosures as regulatory timetables are disrupted by the coronavirus and advisers face increasing pressures...

Challenger expects ‘layers of disruption’ from COVID-19

27 April 2020

The COVID-19 outbreak is expected to further pressure the financial advice market, which is already dealing with existing challenges arising from the Hayne royal commission and changes to advice education requirements, according to Challenger...

ASIC briefly eases rules to facilitate super advice

20 April 2020

Super trustees have been issued a temporary no-action position, allowing them to expand the scope of personal advice that may be provided to consumers in need of help to cope with the economic fallout from the coronavirus outbreak...

Disagreement over disclosure costs TAL $365,400

06 April 2020

The Australian Financial Complaints Authority has found TAL Life has no grounds to reject a claim for critical illness benefit lodged by a policyholder who had aorta repair and replacement surgery in November 2016...

FSC backs strengthened compliance, enforcement

06 April 2020

The Financial Services Council supports greater compliance and enforcement activities aimed at strengthening the legality and penalty framework of the current unfair contract terms regime...

WA adviser hit with four-year ban

30 March 2020

A WA adviser has been banned from the industry for four years over his failure to comply with financial services laws...