Individual DII maintains run of profits
02 June 2025
Individual disability income insurance made an underwriting gain of $231 million in the three months to March, extending its profitable streak to five quarters, the latest prudential data shows...
Life Insurance
Super fund agrees $67 million class action settlement
02 June 2025
A class action alleging QSuper overcharged fund members for life insurance premiums has been settled out of court for $67 million, without admission of liability...
TAL says mental health is biggest claims trigger
02 June 2025
Mental health conditions have ranked as life insurer TAL’s leading cause of claims for the fourth consecutive year...
Advisers welcome shadow ministry appointments
02 June 2025
Advisers have welcomed the appointments of shadow treasurer Ted O’Brien and shadow financial services minister Pat Conaghan...
Complainants confused on stepped premiums, AFCA finds
26 May 2025
The industry ombudsman has sided with Zurich in a dispute over stepped premium rises, ruling the complainants misunderstood their policy...
Insurer offers premium relief for flood-hit customers
26 May 2025
Acenda has announced measures to “ease the burden” on customers affected by the NSW floods...
Adviser body releases tax deduction guide
26 May 2025
Financial Advice Association Australia has issued a guide to making tax deductions for advice fees on behalf of clients...
Kaplan hails adviser efforts in rush to tick education box
26 May 2025
Kaplan Professional says financial advisers “deserve respect” after thousands enrolled for courses in the first three intakes of this year...
Zurich penalised over claim denials
19 May 2025
Zurich has been penalised more than $37,000 over alleged failures handling two trauma insurance claims...
Advisers warn against ‘name and shame’ breach reports
19 May 2025
Financial advisers have raised concerns over the corporate regulator’s plan to publish dashboards containing company-level breach and complaints data...
Parkinson’s sufferer loses battle for higher TPD payout
19 May 2025
A man who stopped work because of Parkinson’s disease has failed to convince the complaints ombudsman his total and permanent disability payout was not enough, or that the policy was unfair...
AFCA refreshes guidance on super disputes
19 May 2025
The Australian Financial Complaints Authority has updated three approach documents setting out how it handles superannuation disputes, including one on insurance claim delays...
Advisers have wish list waiting for Mulino
12 May 2025
Financial Advice Association Australia says advice reforms and cutting red tape are among the most urgent tasks for new Financial Services Minister Daniel Mulino...
HCF fined $750k over misleading term
12 May 2025
The Federal Court has hit HCF Life with a $750,000 penalty over a misleading pre-existing condition term in some policies...
Industry in-force premium tops $16 billion
12 May 2025
Life industry in-force premium fell 1.7% to $16.2 billion last year as lump sum and disability lines recorded declines, offsetting a modest rise in group risk business, according to researcher Dexx&r...
Acenda claims payouts top $1.1 billion
12 May 2025
Life insurer Acenda paid out more than $1.1 billion in benefits last year...
Advisers view AI as ‘useful tool’, study reveals
12 May 2025
Financial advisers in Australia have a favourable view of artificial intelligence and how the technology can be an asset, a global survey has found...
Life cover remains priority amid cost crunch
12 May 2025
Australians continue to view life insurance as a priority and will make cuts to budgets such as holidays, entertainment and even groceries to afford it, according to an annual survey by NobleOak...
Call for Canberra to push through advice reforms
05 May 2025
The Council of Australian Life Insurers has urged the re-elected Albanese government to finish its advice reforms, including permitting the industry to provide “simple” guidance to customers...
Insurer failed to review TPD claim with ‘fresh eyes’
05 May 2025
A vehicle mechanic has won a total and permanent disability claim dispute after the ombudsman ruled his insurer assessed his case “without fairly considering” his prospects of finding suitable work...