Financial Advice Association Australia has introduced a risk adviser category in its awards program this year, recognising the growing importance of specialist life insurance guidance.

The category, sponsored by Zurich Australia, is one of seven in the FAAA Awards, which opened for submissions on Friday.

“Risk advice is often the foundation of a comprehensive financial strategy, and this new award shines a well-deserved spotlight on [this] work,” FAAA GM membership and strategic initiatives Tania Milnes said.

Zurich Australia head of adviser channel Kieran Forde says the insurer is “particularly pleased to support the introduction of the risk adviser of the year award, which shines a spotlight on advisers making a meaningful difference through life insurance advice.”

The awards’ other categories are certified financial planner professional of the year; adviser of the year – holistic; Inspire Women – excellence in advice; professional practice of the year; gen next rising star of the year; and university student of the year.

Applications are open until July 30, with winners to be announced at the association’s congress in Melbourne on November 26.