Life Insurance
Industry ‘failing to keep up’ with customer needs
21 October 2024
Life insurers in Australia and other mature markets are struggling to meet customer expectations, according to Capgemini...
AFCA backs insurer’s 30% rise on ‘level premiums’
21 October 2024
A complainant who was refunded his annual premium following an insurer error has lost his bid for additional compensation over price rises...
Scor appoints Australia and NZ chief
21 October 2024
French reinsurer Scor has appointed Paula Bourke as life and health CEO for Australia and New Zealand...
Challenger on track after Q1 performance
21 October 2024
Challenger says it enjoyed “momentum” in the first quarter and remains on track for a normalised net profit after tax of $440-$480 million this financial year, as previously flagged...
Industry profit drops in June quarter
14 October 2024
The life industry reported lower earnings in the June quarter, according to Australian Prudential Regulation Authority data released today...
Medic worked overseas while lying to insurer, AFCA says
14 October 2024
A paediatrician who worked in Slovakia while receiving income protection payments for a rare disorder was fraudulently claiming the benefits, according to the Australian Financial Complaints Authority...
FAAA announces award finalists
14 October 2024
Financial Advice Australia Association has named the contenders for its annual excellence awards...
TAL raises testing thresholds to ‘simplify’ underwriting
14 October 2024
TAL has made underwriting changes to products sold through advisers or directly from TAL, removing the need for mandatory medical tests when clients want to increase sums insured...
CALI names female adviser program participants
14 October 2024
The Council of Australian Life Insurers has named this year’s winners under its annual female adviser support program...
Workplace researcher hails MetLife on inclusion
14 October 2024
MetLife has been recognised by professional services researcher Seramount for its efforts on diversity, inclusion, hiring practices and workplace trust...
Code committee warns of sanctions amid claims handling inquiry
07 October 2024
The industry’s handling of income protection and total and permanent disability claims will be scrutinised during a Life Code Compliance Committee inquiry...
Industry must adapt as customers eye longer lives: MetLife
07 October 2024
MetLife says approaches to financially managing longevity must be reimagined after research revealed more people expect to live to advanced ages...
Zurich unveils ‘modern TPD option’
07 October 2024
Zurich has introduced a total and permanent disability option that covers ongoing care requirements after a severe accident or illness...
Advice clients more satisfied, less stressed, study finds
07 October 2024
People with financial advisers feel better off than their unadvised peers, according to an annual report by Financial Advice Association Australia...
Brisbane adviser wins Gwen Fletcher prize
07 October 2024
Elston Private Wealth’s Craig Roberts has won the Gwen Fletcher Memorial Award for the second study semester of this year...
iExtend installs distribution head in WA expansion
07 October 2024
iExtend has appointed Wes King as distribution manager in WA...
Code compliance committee targets claims handling, breach reporting
30 September 2024
The Life Code Compliance Committee intends to investigate claims handling outcomes and under-reporting of breaches as part of its 2024-25 list of key priorities...
Horse fall victim loses claim dispute
30 September 2024
A complainant who suffered serious injuries after falling from a horse will not receive a trauma payout after a complaints authority accepted that there was not enough evidence to prove the damage was irreversible...
ATO finalises rule on deductibility of advice fees
30 September 2024
The Australian Taxation Office has released a final determination on the deductibility of financial advice fees...
Asteron Life reveals adviser grant winners
30 September 2024
New Zealand insurer Asteron Life has announced the winners of its inaugural adviser financial grant support program...