Advisers falling short on client reviews
19 November 2018
Customers are missing chances to adjust their life cover because advisers neglect to hold annual client reviews, MetLife says…
Life Insurance
AIA welcomes code update
19 November 2018
AIA is confident the new Life Insurance Code of Practice that was released by the Financial Services Council last week is better aligned to community expectations…
Adviser banned over super theft
19 November 2018
Financial adviser Craig James Wilson has been banned from the industry after he was convicted of stealing clients’ superannuation funds…
Clarification
19 November 2018
In last week’s insuranceNEWS.com.au we covered an S&P Global report stating that nine out of 10 Australian life insurers will be foreign-owned by next year…
FSC consults on new code of practice
12 November 2018
The Financial Services Council has released its overhauled Life Insurance Code of Practice for public consultation…
BT stands alone as locals sell out of life
12 November 2018
Nine out of 10 Australian life insurers will be foreign-owned by next year, with Westpac’s BT Group the only locally owned insurer still standing…
Zurich commits to ANZ OneCare offering
12 November 2018
Zurich will keep the OneCare product line from its acquired ANZ life insurance business open long-term…
ASIC consults on adviser education guidance
12 November 2018
The Australian Securities and Investments Commission is consulting on regulatory guide changes to support reforms lifting advisers’ education, training and ethical standards…
TAL makes changes to Accelerated Protection
12 November 2018
TAL has upgraded its Accelerated Protection product series, including lower premiums for life and total and permanent disability insurance…
Future2 reaches $1 million milestone
12 November 2018
The Financial Planning Association’s philanthropic arm has hit the $1 million mark for donations since its creation 11 years ago…
Sector’s struggles serve as warning: Guy Carpenter
05 November 2018
Increasing regulatory costs, high earnings volatility and intensive capital costs are rapidly changing local life insurers’ business models and encouraging a wave of divestment to foreign owners, Guy Carpenter says…
Industry defends genetic testing regime
05 November 2018
The Financial Services Council has defended limits included in proposals to change the way the industry handles genetic testing, following criticism from campaigners…
AMP stands up for life sale
05 November 2018
AMP has defended the decision to sell its life insurance arm, telling shareholders incoming CEO Francesco De Ferrari has been given a mandate to establish a new strategic direction…
Gaps in cover expose small business bosses
05 November 2018
A large majority of small business owners leave their companies unprotected by insurance for times when they are unable to work, according to a new report from MetLife…
FPA bids to oversee ethics compliance
05 November 2018
The Financial Planning Association has lodged an expression of interest to administer a higher education and ethics compliance scheme for financial advisers…
Banned advice group fined $9 million
05 November 2018
A Melbourne advice business has been fined nearly $9 million for breaching multiple financial services, credit and consumer protection laws…
FSC adds UBS, Mercer execs to board
05 November 2018
The Financial Services Council has appointed UBS Asset Management Australia CEO Bryce Doherty and Mercer Australia MD Ben Walsh to its board of directors…
BT opens adviser support hub
05 November 2018
BT has launched a support services hub for advisers…
Analysts give thumbs down to AMP life sale
29 October 2018
Financial analysts are unimpressed by the sale of AMP’s life insurance business, criticising both the rationale and financial benefits to the industry giant…
Hayne ‘embarrassment’ worse for life insurers
29 October 2018
Disclosures from the Hayne royal commission have raised caused more damage to life insurance than it has for the general insurance sector, S&P Global Ratings says…