QSuper will not appeal court ruling on AFCA's determination
11 May 2020
QSuper has decided not to appeal against a court ruling that upheld a determination made by the Australian Financial Complaints Authority...
Life Insurance
Risk inflows fall as TAL takes the market lead
11 May 2020
The life industry posted a 4.5% decline in risk inflows to $15.7 billion last year, snapping a decades-long growth streak, according to data compiled by actuaries and researchers Plan for Life...
Adviser banned after client misses life insurance payout
11 May 2020
A financial adviser whose instructions left a client without life insurance cover, and their spouse later missed out on a payout, has been permanently banned by the regulator from providing financial services...
TAL offers free pandemic webinar to advisers
11 May 2020
TAL has created a free COVID-19 wellbeing webinar guiding financial advisers on communicating with clients during the coronavirus lockdown...
Westpac mulls sale of life business
04 May 2020
Westpac announced today plans for a strategic review of its non-banking operations that could include selling the life business...
Aboriginal funeral insurer slammed by MPs
04 May 2020
An insurer that provides funeral products to the Aboriginal community was attacked by MPs during parliamentary hearings last week...
Advisers hit back at 'simplistic' claims by law firm
04 May 2020
Financial advisers have strongly refuted claims made by law firm Maurice Blackburn that life insurance bought through group super offers greater value for customers than policies that are acquired based on tailored advice...
ASIC reminds life insurers of code commitments
04 May 2020
The Australian Securities and Investments Commission has warned life insurers that they must stand by Code of Practice commitments towards vulnerable customers as pressures increase due to the coronavirus pandemic...
Yellow Brick Road completes sale of wealth division
04 May 2020
Yellow Brick Road has received a second and final payment of $120,931 from the sale of its wealth division to Sequoia Financial Group...
Terminal illness claims 'not straightforward': lawyer
04 May 2020
Making a claim for terminal illness payment is "not a straightforward matter" with reimbursements often rejected for a variety of reasons, according to a specialist lawyer...
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...
AMP wealth arm cops hit from COVID-19 market volatilty
27 April 2020
AMP’s wealth management unit has suffered a 13.5% decline in the value of assets under management as market volatility sparked by the COVID-19 pandemic affected its business in the first quarter...
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...
TAL launches webinar to support advisers during pandemic
27 April 2020
TAL has launched a webinar for financial advisers, offering tools and resources to help them remotely service clients while social distancing measures are still in place to control the coronavirus outbreak...
Life insurers get ACCC nod to 'co-ordinate' virus response
20 April 2020
Life insurers have been granted approval to "co-ordinate" on a joint policy response aimed at ensuring frontline healthcare workers won’t be excluded from coverage because of COVID-19...
MetLife calls on advisers to 'go the extra mile' during virus disruption
20 April 2020
MetLife Australia has urged advisers to step up and help clients cope with financial anxieties caused by the coronavirus-induced economic slump...
ClearView warns of increased claims, lapses amid virus turmoil
20 April 2020
ClearView says its retail life business will likely see an “increase in claims and lapses in the months ahead” due to business uncertainties caused by the virus outbreak...
Former FSC manager returns to take up deputy CEO role
20 April 2020
The Financial Services Council has appointed its former senior policy manager Blake Briggs as Deputy CEO...
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...