Munich Re CEO chosen
02 December 2019
Munich Re has promoted Nicolas Carro to Life & Health CEO of Australasia, with responsibility for operations in Australia and New Zealand...
Life Insurance
Regulator cracks down over fee disclosure failings
02 December 2019
A review of financial advice fee disclosure statements by the Australian Securities and Investments Commission has found widespread non-compliance with the disclosure obligations...
Professionalism recognised at FPA awards
02 December 2019
Seven people and one business were honoured at the Financial Planning Association awards night in Melbourne last week...
RBNZ plans solvency buffer review
02 December 2019
The Reserve Bank of New Zealand will review life insurer solvency requirements alongside a review of the Insurance Prudential Supervision Act, after noticing a fall in solvency buffers...
MLC Life CEO wins award
02 December 2019
MLC Life Insurance CEO David Hackett has been named CEO of the Year by CEO Magazine...
APRA wants changes to insurance in super standards
25 November 2019
Superannuation trustees will need to meet new independent certification standards prior to signing or renewing a group life insurance contract with an insurer, under proposed changes to insurance in super prudential standards...
Risk advisers plummet due to unwieldy systems
25 November 2019
The number of specialist risk advisers is plummeting while planner dissatisfaction with cumbersome insurance processes increases, new research reveals...
Adviser banned by ASIC for five years
25 November 2019
Perth financial adviser Lawrence O’Neill has been banned from the industry for five years, following an investigation by the Australian Securities and Investments Commission...
New insurance design behind REST switch
25 November 2019
REST Super’s switch of insurance providers from AIA to TAL was driven by a desire to develop a new insurance design, CEO Vicki Doyle says...
CommInsure set for sentencing after guilty plea
25 November 2019
CommInsure will be sentenced on Thursday after pleading guilty in a Sydney court last week to 87 counts of hawking...
Regtech solution at TAL
25 November 2019
TAL is implementing voice recognition software across all its phone-based sales calls, feeding directly into the insurer’s quality assurance program...
Capital raising for Resolution
25 November 2019
Resolution Life has raised $US3 billion over the past 14 months to use for further acquisitions or reinsurance...
Premium waivers for AIA and CommInsure customers
25 November 2019
AIA and CommInsure customers who have been affected by bushfires in Queensland and New South Wales will have their premiums waived, the insurer says...
TAL launches specialised diabetes cover
25 November 2019
TAL is launching an insurance policy for diabetes sufferers that rewards them with premium reductions if they take care of their health...
SIS Act amendments to fix reform contradictions
18 November 2019
The Federal Government is planning to amend insurance in super rules in the Superannuation Industry Act to fix some of the contradictions created by the insurance in super reforms...
Confusion over payments for members caught by PYS
18 November 2019
Some super funds have established an ex-gratia payment pool for members who have unknowingly lost insurance cover from the Protecting Your Super bill and made claims. But others are taking a “hard-line approach”...
APRA releases insurance claims statistics
18 November 2019
Significantly more death, total and permanent disability and disability income claims are being declined by insurers if they come from non-advised customers compared to financial advisers...
TAL restructures business
18 November 2019
TAL has realigned its business around individual life, group life and investments lines in response to structural changes in the life market...
ASIC compliance exemption starts
18 November 2019
The corporate regulator’s three-year exemption for advisers from their compliance obligations has come into effect...
ASIC communication approach creates challenges: MLC
18 November 2019
Regulator warnings over life insurers’ communications about insurance in super are “difficult to reconcile” with the preferences of younger generations, according to MLC Life Insurance...