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Life Insurance

$3.6 million ‘smoker’ premiums to be refunded

10 August 2020

At least 5000 superannuation fund members will collectively receive more than $3.6 million in compensation after they were wrongfully charged higher “smoker” premiums for life insurance, the Australian Securities and Investments Commission says...

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New life insurer powers a ‘dangerous Trojan horse’: law firm

10 August 2020

A move to allow greater involvement in worker rehabilitation by life insurers is a “dangerous Trojan horse” and part of a push to expand powers so fewer claims will need to be paid out, law firm Maurice Blackburn Lawyers alleges...

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NZ Life sector to grow 1-2% a year

10 August 2020

New Zealand’s life insurance sector is poised to grow premiums by around 1-2% over each of the next three years, according to S&P...

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AMP Australia’s CEO Alex Wade departs

10 August 2020

AMP Australia CEO Alex Wade has departed the company with immediate effect...

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RBNZ clarifies ‘unique operating model’ after AMP Life sale

10 August 2020

The Reserve Bank of New Zealand’s insurance supervision team has published a detailed outline of the complicated new operating model structure it wants put in place to permit AMP’s sale of its Life business...

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NZ advisers welcome changes to conduct bill

10 August 2020

Advisers in New Zealand will be excluded from fair conduct programs under amendments made last week to a bill designed to improve culture and practices in the financial services industry...

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