Insurance in super bill sails through Senate
23 September 2019
Industry super advocates have welcomed the passing of a bill that has made insurance in super opt-in for under 25s and those with low balance accounts...
Life Insurance
Shaky adviser-client relationship endangering life cover
23 September 2019
Nearly a third of consumers and more than half of all businesses are considering changing or dropping their financial adviser because they think they don't need insurance or think it's too expensive, MetLife says...
Customer satisfaction continues decline
23 September 2019
Customer satisfaction with life insurance is continuing to gradually fall, new research reveals..
Disappointing response to regulator review provokes warning
23 September 2019
Additional conduct obligations may be imposed on New Zealand's life insurers after a disappointing industry response to the regulators’ conduct and culture review...
Zurich waives life premiums for bushfire victims
23 September 2019
Zurich will waive two months' of life insurance premiums for customers affected by the recent bushfires in NSW and Queensland. The offer will remain open until the end of November...
FPA calls for cyclists to join The Wheel Classic
23 September 2019
The Financial Planning Association's charity arm, Future2, is calling for people to join its annual charity bike ride and hiking challenge in November...
AFA savages commissions bill
16 September 2019
The passage of the bill banning grandfathered commissions last week leaves thousands of advisers and clients without any solutions about what to do, the Association of Financial Advisers says...
Shock tactics: Industry lobbying called 'emotional blackmail'
16 September 2019
The life insurance sector’s efforts to convince politicians to vote against further insurance in super legislation is “emotional blackmail”, Super Consumers Australia says...
ASIC takes phone sales companies to court
16 September 2019
The Australian Securities and Investments Commission is taking insurance sales companies Select AFSL, BlueInc Services, Insurance Marketing Services and director Russell Howden to court for mis-selling insurance policies to vulnerable customers...
ASIC suspends licence for planning practice
16 September 2019
The corporate regulator has suspended the financial services licence of Queensland-based planning business Financial Options so it can put its house in order...
Senate forms fintech committee inquiry
16 September 2019
The Financial Planning Association has applauded the Senate for launching an inquiry into fintech and regtech...
Class action launched against Westpac Life
09 September 2019
Plaintiff lawyers Slater and Gordon has filed a class action against Westpac’s BT Funds Management and life insurance business...
Suncorp completes $1.43 million Guardian Advice remediation
09 September 2019
Suncorp Life and Superannuation has completed a remediation program under which it paid $1.43 million in compensation to 4000 clients who received poor advice from its Guardian Advice division...
Go for broke on individual DII problems: Gen Re
09 September 2019
The wider insurance industry must take radical steps to fix individual disability income business, a new white paper says...
OnePath ratings good, but concerns remain over disability cover
09 September 2019
S&P Global has confirmed OnePath’s credit and financial ratings as A+ after the agency revised its criteria...
Insurer drops out of AM Best ratings process
09 September 2019
Ratings agency AM Best has withdrawn its ratings for AIA New Zealand at the insurer’s request, after it switched to rival agency Fitch Ratings...
Government extends deadlines for FASEA requirements
02 September 2019
Representative bodies of financial advisers and accountants have welcomed the Federal Government’s decision to extend the deadlines for new education requirements...
Life profits continue their downward slide
02 September 2019
The life insurance sector recorded a profit drop in the June quarter of more than 50% compared to the same time last year, according to APRA industry-level statistics...
Metlife Survey finds ‘mass ignorance’
02 September 2019
A new survey by Metlife has revealed widespread ignorance and distrust about insurance in super, with a lack of awareness about how it works, what it costs, or how to modify it...
Minister shrugs off arguments against second insurance in super bill
02 September 2019
Industry arguments against passing the second insurance in super bill are weak and mostly coming from vested interests, according to Superannuation and Financial Services Minister Jane Hume...