insuranceNEWS.com.au - Life Insurance

Further rise in code breaches sparks concern

Mon, 15 Apr 2024 04:46:22 GMT

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

Mon, 15 Apr 2024 04:45:43 GMT

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

Mon, 15 Apr 2024 04:45:20 GMT

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

Mon, 15 Apr 2024 04:45:05 GMT

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

Mon, 15 Apr 2024 04:44:42 GMT

AIA has introduced rewards to encourage deeper engagement with its Vitality health and wellbeing program...

Resolution sees ‘compelling opportunity’ with Asteron purchase

Mon, 08 Apr 2024 03:41:13 GMT

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

Mon, 08 Apr 2024 02:52:24 GMT

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

Mon, 08 Apr 2024 02:51:52 GMT

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

Mon, 08 Apr 2024 02:51:28 GMT

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

Mon, 08 Apr 2024 02:51:00 GMT

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

Mon, 08 Apr 2024 02:50:34 GMT

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

Mon, 25 Mar 2024 02:25:21 GMT

Life insurer TAL will develop an “income for life” retirement product option for AustralianSuper members...

Complainant with neurological disorders breached disclosure duty

Mon, 25 Mar 2024 02:24:09 GMT

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

Mon, 25 Mar 2024 02:23:06 GMT

New Zealand insurer Asteron Life says Tony Arthur has joined today as Executive Manager Life Distribution...

iExtend names new CFO

Mon, 25 Mar 2024 02:21:02 GMT

iExtend has appointed Michael Edwin as its new CFO...

Green light for rate rises after level premium dispute

Mon, 18 Mar 2024 03:33:44 GMT

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

Mon, 18 Mar 2024 03:33:17 GMT

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

Mon, 18 Mar 2024 03:31:00 GMT

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

Mon, 18 Mar 2024 03:30:31 GMT

AIA has set up a support program for women experiencing menopause symptoms that prevent them from working...

MetLife extends community grant program to Australia

Mon, 18 Mar 2024 03:06:50 GMT

MetLife has added Australia to its community impact grant program, which was launched in the US last year...