Life Insurance
Further rise in code breaches sparks concern
15 April 2024
The Life Insurance Code Compliance Committee says the industry needs to step up after breaches rose for the third straight year, growing 9% to 12,314 for the 2022-23 reporting period...
AFCA warns of ‘devastating consequences’ from miscommunication
15 April 2024
The Australian Financial Complaints Authority flagged the importance of providing accurate information to insureds at a recent member forum for the life industry...
Financial security trumps groceries, holidays
15 April 2024
Australians value life insurance so highly they are prepared to reduce other expenses to keep their policies, annual research from NobleOak Life has found...
Watchdog rules against complainant who failed to disclose ailments
15 April 2024
A woman who alleged her financial adviser gave her inappropriate insurance advice, arranging new policies that came with mental health and lumbar spine exclusions, has lost her dispute...
AIA offers incentive for wellbeing program
15 April 2024
AIA has introduced rewards to encourage deeper engagement with its Vitality health and wellbeing program...
Resolution sees ‘compelling opportunity’ with Asteron purchase
08 April 2024
Resolution Life says its planned $NZ410 million ($375 million) acquisition of New Zealand insurer Asteron Life will give it “significant scale and capability” in the country...
Ombudsman praises industry as complaints plummet
08 April 2024
Some 1596 life insurance disputes were lodged with the Australian Financial Complaints Authority last year, down 35% from 2022, a recent member forum heard...
Adviser body takes stock after first year
08 April 2024
Financial Advice Association Australia will continue advocating “fearlessly” for the profession, Chair David Sharpe says in a message marking the peak body’s first anniversary...
MLC Life fills board seat
08 April 2024
MLC Life Insurance says Koji Ichiba has joined as a board director and member of its executive team...
Asteron Life shakes up benefits, policy wordings
08 April 2024
New Zealand insurer Asteron Life has made changes to its personal and business insurance offerings and revamped policy wordings as part of its plain language commitment...
MetLife workers secure menopause, gender leave entitlements
08 April 2024
MetLife Australia staff will have new leave benefits, including for menopause, after the insurer consulted its employee-led diversity, equity and inclusion committee...
TAL to develop retirement product for AustralianSuper
25 March 2024
Life insurer TAL will develop an “income for life” retirement product option for AustralianSuper members...
Complainant with neurological disorders breached disclosure duty
25 March 2024
A complainant fraudulently breached her disclosure duty in failing to reveal she has a form of neurological disorder that causes muscle weakness and stiffness in her legs...
Asteron Life appoints distribution manager
25 March 2024
New Zealand insurer Asteron Life says Tony Arthur has joined today as Executive Manager Life Distribution...
iExtend names new CFO
25 March 2024
iExtend has appointed Michael Edwin as its new CFO...
Green light for rate rises after level premium dispute
18 March 2024
Another complaint over level premium increases by insurer TAL has failed, with the Australian Financial Complaints Authority ruling the rises were allowed as outlined in the contracts...
Adviser group seeks sponsors for women mentoring program
18 March 2024
The Financial Advice Association of Australia is looking for sponsors to support its women mentoring program after government funding ran out late last year...
MetLife names director as new chair
18 March 2024
MetLife Australia has named Independent Non-Executive Director Nicola Wakefield Evans as Chair, taking over from Geoff Brunsdon, who is retiring after 13 years on the board...
Insurer offers menopause support program
18 March 2024
AIA has set up a support program for women experiencing menopause symptoms that prevent them from working...
MetLife extends community grant program to Australia
18 March 2024
MetLife has added Australia to its community impact grant program, which was launched in the US last year...