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Life Insurance

Regulatory scrutiny is life insurersí highest hurdle: EY

9 December 2019

More stringent regulation is the top challenge faced by life insurers in Australia and scrutiny of commissions here may limit investment in technology, a new report from EY says...

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AFCA attacks use of Ďmedical jargoní in policy

9 December 2019

TAL must pay a trauma claim for a customer who suffered a heart attack even though he wasn’t covered by the policy, in a decision influenced by the emerging controversy over universal terms and conditions and criticising the Life Insurance Code of Practice...

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Claims delays: AMP answers consumer groupís broadside

9 December 2019

AMP Life is defending its claims-handling for group insurance after Choice subsidiary Super Consumers Australia labelled delays “abhorrent” in an open letter...

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Employees Ďdonít understand life insurance benefitsí

9 December 2019

Life insurance policies are rated as key employee benefits, yet only 60% of employees understand how they work, a MetLife report says...

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Donít ignore insurance, ASIC warns fundsí advisers

9 December 2019

The corporate regulator is warning superfunds providing scaled advice to members to address members’ insurance needs, after uncovering a number of cases where advisers inappropriately excluded insurance from discussions...

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OnePath must pay more interest in AFCA decision

9 December 2019

OnePath must pay extra interest on a total and permanent disability benefit amount for a claim that it took more than three years to accept, the Australian Financial Complaints Authority says...

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High-risk workers also risk being uninsured

9 December 2019

Some superannuation members in dangerous jobs may be left uninsured in a workplace accident if their superfund decides it is too difficult to apply an exemption in recent super insurance legislation, according to a new paper...

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TAL continues free pop-up skin clinics for beachgoers

9 December 2019

Life insurer TAL is raising skin-cancer awareness with free pop-up skin check clinics at three of Australia’s most popular beaches as summer gets underway...

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