MLC adds mental health to medical advice service
21 May 2018
MLC Life Insurance has expanded its free medical advice service to cover mental health conditions including depression, stress and anxiety…
Life Insurance
AIA extends Claims on Wheels program
21 May 2018
AIA Australia will roll out its Claims on Wheels home visit service nationwide following a successful pilot in Victoria…
FPA calls for grant nominations
21 May 2018
The philanthropic arm of the Financial Planning Association is calling for members to nominate non-profit organisations for its grants program…
Budget axes exit fees, default cover for under-25s
14 May 2018
Exit fees on superannuation accounts will be stopped and under-25s will no longer be given default life insurance under reforms outlined in the federal budget…
Moody’s report adds to AMP woes
14 May 2018
Moody’s has slapped AMP with a negative credit outlook, following testimony at the Hayne royal commission…
Class actions filed as more AMP directors quit
14 May 2018
Two class action lawsuits have been filed against AMP, as the fallout from the Hayne royal commission continues…
AMP premium flat as more compensation looms
14 May 2018
AMP’s wealth protection annual inforce premium held steady in the first quarter at $1.89 billion…
Life insurers want greater role in rehab
14 May 2018
Life insurers should be allowed to cover the cost of rehabilitation services for injured workers, the Financial Services Council says…
ASIC seeks court order against NSW adviser
14 May 2018
The Australian Securities and Investments Commission has started legal action against NSW financial adviser Graeme Walter Miller and three related companies…
ANZ finalises reinsurance arrangement with Zurich
14 May 2018
ANZ has received about $1 billion of upfront reinsurance commission from its $2.85 billion sale of OnePath to Zurich…
AMP denies crimes, says fate should lie with ASIC
07 May 2018
AMP has denied committing criminal offences in the fees-for-no-service scandal, telling the Hayne royal commission it lacks evidence to make such a finding and further action should be left to the corporate regulator…
AMP names Murray as Chairman
07 May 2018
Former Commonwealth Bank CEO and Financial System Inquiry chairman David Murray has been appointed Chairman of AMP…
Under-fire AMP placed on ‘credit watch’
07 May 2018
Investors may be getting itchy feet after S&P Global Ratings placed AMP and all subsidiaries on a negative “credit watch” following revelations of corporate misconduct…
ANZ cuts sales incentives, cracks down on poor advice
07 May 2018
ANZ has unveiled a raft of changes to improve the quality of its financial advice offering, including removing sales incentives for financial planning…
NAB to divest MLC by 2020
07 May 2018
NAB aims to offload its MLC wealth management business by the end of next year…
One-third of execs want more stringent industry code
07 May 2018
The Life Insurance Code of Practice has set the bar too low, according to 36% of industry leaders surveyed at a conference…
ASIC removes licence over reporting failures
07 May 2018
The Australian Securities and Investments Commission has cancelled Mackellar Financial Services’ financial services licence.
ALUCA to name award winners
07 May 2018
The Australasian Life Underwriting and Claims Association will announce the winners of its inaugural excellence awards this month…
Wilkins steps up again after AMP chairman quits
30 April 2018
Former IAG CEO Mike Wilkins has been appointed Executive Chairman of AMP, effective immediately…
Misconduct may bring harsh penalties, commission hears
30 April 2018
AMP, Westpac, NAB, Commonwealth Bank and other financial advice groups may face steep civil and criminal penalties for poor conduct and corporate deceit…