Insurers keeping pace on mental health: FSC
25 March 2019
Australian life insurers pay out on mental health claims at about the same rate as cases occur in the community, the Financial Services Council says…
Life Insurance
Canberra backs Hayne on claims handling exemption
25 March 2019
The Federal Government will accept the Hayne royal commission recommendation to include the handling and settlement of insurance claims under the definition of financial service…
Hayne ignored advice industry strengths: AFA
25 March 2019
The Association of Financial Advisers has lambasted the Hayne royal commission’s negative portrayal of the sector…
TAL helps advisers plug gap on business cover
25 March 2019
TAL’s Risk Academy will host a series of education workshops to help advisers promote business insurance to clients…
Zurich commits to OneCare features
25 March 2019
Zurich has reassured financial advisers it will not lose focus on OneCare’s customer-oriented features and service improvements when it starts operating the product this year…
FSC moves to prohibit genetic test disclosure
18 March 2019
The Financial Services Council will introduce a moratorium on life insurance genetic test results as a binding standard from July 1, following stakeholder feedback in the Life Insurance Code of Practice consultation…
Use budget to tackle legacy problems: FSC
18 March 2019
The Financial Services Council has urged the Federal Government to use next month’s budget to cut red tape preventing the retirement of substandard legacy financial products…
TAL doubles up on industry award
18 March 2019
TAL has been named the Association of Financial Advisers’ life company of the year for the second year running, beating AIA, OnePath Life and Zurich Financial Services…
CBA delays wealth management sale
18 March 2019
Commonwealth Bank of Australia has “suspended” the sale of its wealth management operations, including its financial advice business, to concentrate on Hayne royal commission recommendations…
APRA tells insurers to update stress testing
18 March 2019
Life insurers should incorporate emerging risks such as cyber attacks into their stress testing scenarios, the prudential regulator says…
FPA reaches out to uni students
18 March 2019
The Financial Planning Association has launched a new networking program aimed at attracting university students to the profession…
Consumers won’t pick up the tab for life advice
11 March 2019
Nearly 30% of consumers are unwilling to pay out-of-pocket fees for life insurance advice, according to a Rice Warner study…
AFCA tells FSC to make super code compulsory
11 March 2019
The Australian Financial Complaints Authority has criticised plans to include the insurance in superannuation code as a voluntary commitment within the Life Insurance Code of Practice…
Industry urged to get real on innovation
11 March 2019
Life insurers must undertake a fundamental product redesign and underwriting transformation to be sustainable in the long term, consultant Oliver Wyman warns…
S&P positive on Suncorp Life after TAL deal
11 March 2019
S&P Global has upgraded its outlook on Suncorp Life to positive after the business’ sale to TAL completed two weeks ago…
FPA online tool addresses FASEA confusion
11 March 2019
The Financial Planning Association has launched an online education portal to combat confusion about forthcoming higher education requirements for advisers…
Integrity takes plunge into retail market
11 March 2019
Integrity Life has fully expanded into the retail market after piloting products with a select group of life advisers…
Profits continue decline as investments struggle
04 March 2019
The life insurance sector’s struggle to maintain viability has been laid bare by the prudential regulator, which says falling investment revenue has slashed profits over the past year…
TAL wraps up Suncorp sale, names integration chief
04 March 2019
TAL has completed its acquisition of Suncorp’s life insurance business and has appointed Andrew Howard as Chief Commercial Officer to lead the integration…
Claims, lapses hit ClearView profit
04 March 2019
ClearView suffered a 13% drop in net profit in the six months to December…