Opt-in reform promotes underinsurance: AFA
16 July 2018
The Association of Financial Advisers has criticised proposed opt-in arrangements for life cover in superannuation…
Life Insurance
Heavyweights join opposition to opt-in proposal
16 July 2018
Industry opposition to opt-in insurance in superannuation is growing, with TAL Life, Munich Re, MetLife and RGA Reinsurance making submissions to the Government…
APRA backs industry over super concerns
16 July 2018
The Australian Prudential Regulatory Authority has echoed industry concerns that opt-in cover in superannuation will have a material effect on group life insurers…
FPA members urged to submit exam feedback
16 July 2018
The Financial Planning Association is seeking member feedback on the Financial Adviser Standards and Ethics Authority’s proposed guidance for the industry exam…
TAL offers diabetes webinar for advisers
16 July 2018
TAL has developed a webinar on diabetes to help financial advisers better understand the condition when making claims…
Centrepoint appoints research chief
16 July 2018
Wealth manager Centrepoint Alliance has appointed Miriam Herold as Head of Research…
APRA warns of action on disability income cover
09 July 2018
The Australian Prudential Regulation Authority says it will step up supervision of disability income insurance if progress on improving the product’s performance is inadequate…
Super fund insurance prices show wide variation
09 July 2018
Premiums for insurance within super funds are showing wide variation even within similar risk groupings, a Rainmaker Information study says…
New class action alleges Commonwealth misled investors
09 July 2018
Law firm Phi Finney McDonald has filed a class action in the Federal Court against the Commonwealth Bank over allegations that it misled investors regarding breaches of anti-money laundering and counter-terrorism financing laws…
Fake adviser sentenced to community service
09 July 2018
A resident of the New Zealand tourist centre of Queenstown has been sentenced to 200 hours community work and three months community detention after pleading guilty to impersonating a registered financial adviser…
FPA hits out at education reform proposals
09 July 2018
The Financial Planning Association has called for common sense to prevail as it continues to oppose the proposals for new education requirements…
CBA completes Sovereign sale to AIA
09 July 2018
Commonwealth Bank has completed the sale of its wholly owned New Zealand insurer Sovereign to AIA Group for $1.27 billion…
MLC appoints new underwriting head
09 July 2018
MLC Life has appointed Mick Jones as Head of Underwriting…
Income protection dragging down life product risk
02 July 2018
Life insurers’ product risk has been undermined by the continued poor performance in income protection, according to S&P Global Ratings’ annual sector outlook report…
Regulator takes AMP to court over ‘churning’
02 July 2018
The Australian Securities and Investments Commission has begun a civil action against AMP Financial Planning for alleged insurance policy churning…
Dover’s McMaster to ‘remove himself’ from industry
02 July 2018
The Australian Securities and Investments Commission says Dover Financial Advisers director Terry McMaster has agreed to “remove himself permanently” from the industry…
ASIC bans adviser over group cover failings
02 July 2018
Former Ipac adviser Graeme Cowper has been banned from providing financial advice for four years…
Digital shift ‘leaving traditional life insurers behind’
02 July 2018
Traditional life insurers face a slowdown as insurtech competitors and buyer reluctance take a toll, according to a paper from Deloitte…
AIA echoes KPMG on opt-in group cover
02 July 2018
AIA Australia has welcomed a KPMG paper on proposed opt-in arrangements for insurance in superannuation, saying the budget changes will fail to address eroding account balances…
Young planners seek greater digital engagement
02 July 2018
Almost 90% of financial planners want to use a wider range of digital channels to reach clients, a survey by market researcher Investment Trends reveals…