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Life Insurance

Freedom cuts phone sales after royal commission flak

17 September 2018

Freedom Insurance Group, under fire at the Hayne royal commission for its sales tactics, has dumped direct telephone calling for several products and appointed Deloitte to conduct a review of its strategy and operations…

AMP slowest to decide life claims

17 September 2018

AMP was the slowest insurer to resolve life claims last financial year, but also had the lowest rejection rate, data provided by 10 insurers to the royal commission shows…

TAL breaches standards, CommInsure medical definitions fail

17 September 2018

TAL breached professional standards and its actions fell below community expectations when it tried to halt income protection policy payments for a nurse who was suffering depression and anxiety, the Hayne royal commission heard last week…

FPA releases FASEA consultation papers

17 September 2018

The Financial Planning Association has released the seven submissions it has made to the Financial Adviser Standards and Ethics Authority during the year…

ASIC condemns shortcomings in super insurance

10 September 2018

Insurance in superannuation complaints handling is often too slow, while some trustees have automatically defaulted members as smokers, the Australian Securities and Investments Commission has found in a review…

ASIC bans adviser

10 September 2018

The Australian Securities and Investments Commission has banned James Phillip Allen from providing financial advice for three years, after he failed to act in clients’ best interests…

Freedom reviews business model

10 September 2018

Freedom Insurance Group is holding a strategic review of its business following an “initial discussion” with the Australian Securities and Investments Commission…

YBR notches 10% premium gain

10 September 2018

Yellow Brick Road has reported a 10.6% rise in premium under management to $18.2 million for last financial year…

ASIC uncovers unfair life sales practices

03 September 2018

A review of direct life insurance sales has found significant numbers of consumers cancelling policies or letting them lapse following “shocking” sales tactics…

Clients turn away from wellbeing programs

03 September 2018

Advice clients are not taking up health and wellbeing programs associated with their life insurance policies, according to an Investment Trends report…

MetLife opens group claims platform

03 September 2018

MetLife Australia has established a digital platform for lodging and tracking life insurance claims through superannuation fund Statewide…