CBA CCI settlement gets nod
18 September 2023
The Federal Court of Australia has approved a $50 million settlement of a class action brought against Commonwealth Bank of Australia over consumer credit insurance...
Life Insurance
ClearView names banker to fill new chief of staff role
18 September 2023
Life insurer ClearView Wealth has hired Sharon Leong to fill the newly created position of Chief of Staff, reporting to MD Nadine Gooderick...
ANZIIF crowns Making a Difference life winner
18 September 2023
The Australian and New Zealand Institute of Insurance and Finance has awarded this year’s Making a Difference Award for life insurance to Swiss Re Claims Service Manager Lucy Hartley...
FSC names board additions
18 September 2023
The Financial Services Council has appointed AMP CEO Alexis George and BT Financial Group CEO Matt Rady to its board...
TAL updates Accelerated Protection offerings
18 September 2023
TAL has updated its Accelerated Protection life products, redesigning the offerings to keep up with customers’ and advisers’ needs...
Asteron Life shares mental health support program success
18 September 2023
Suncorp-owned New Zealand life insurer Asteron Life says its mental health support program, offered since 2020, has helped customers receive the assistance they need...
New legislation offers pathway for ‘experienced’ advisers
11 September 2023
Parliament has passed legislation paving the way for “experienced” financial advisers to remain in the profession without having to meet additional qualifications criteria...
Lawmakers mull motion to regulate life industry’s use of genetic tests
11 September 2023
Politicians will consider a motion to introduce regulations that will bar life insurers from discriminating against customers based on their genetic test results...
Integrity Life to quit selling retail products via advisers
11 September 2023
Integrity Life will stop selling retail life products via the advice channel from September 29 due to declining numbers of advisers...
Insurer entitled to decline fibromyalgia trauma claim
11 September 2023
A complainant who claimed a $436,543 benefit due to a “loss of independent existence” will not be compensated after a dispute ruling decision found the insured had not met the policy’s terms for a payout...
Rating agency report studies covid impact on reinsurers
11 September 2023
AM Best has released a report on the state of the life reinsurance sector including the impact of covid on the industry...
AustralianSuper sued over multiple accounts
11 September 2023
The corporate regulator has launched civil penalty proceedings against AustralianSuper over its alleged failures to “promptly identify and merge” multiple accounts held by the same members, causing them to pay more insurance premiums and administration fees than necessary...
CALI launches support program for mid-career female advisers
11 September 2023
The Council of Australian Life Insurers has launched a program aimed at supporting mid-career female financial risk advisers...
TAL launches mental health webinar series
11 September 2023
TAL has launched its client mental health and wellbeing webinar series to help provide financial advisers with the capability to support their clients’ needs...
Industry to discuss life insurance research project with academics
04 September 2023
Life insurers will hold a meeting with four Australian universities on Thursday about a longitudinal study of life insurance customers...
Insurer ‘not obliged’ to reinstate cancelled policy
04 September 2023
A complainant who cancelled a term policy on the life of her husband, and then demanded the cover be reinstated and the insurer pay her the insured benefit after his sudden death, has lost her dispute...
Youpla directors accused of breaching duties
04 September 2023
Five former Youpla Group directors are alleged to have breached their duties in agreeing to insurance arrangements with a Vanuatu-registered company, actions that were not in the best interests of the collapsed funeral insurer’s Indigenous customers...
TAL announces AFLW player support program
04 September 2023
TAL launched a new initiative as part of its partnership with AFLW to help fans offer support and encourage AFLW athletes both on and off the field...
Life net profit tops $1.2 billion as investments recover
28 August 2023
The life industry achieved sharply higher earnings for the year to June 30 as investments returns rebounded strongly to a $4.8 billion profit from a year-earlier deficit of $6.3 billion, according to the Australian Prudential Regulation Authority...
ClearView aims for growth after life earnings surge
28 August 2023
ClearView Wealth is aiming to grow its share of the life insurance market after group underlying net profit grew a record 41% to $36.5 million for the year to June 30...