Feedback sought on advice reform draft laws
24 March 2025
The federal government has begun consulting on proposed laws comprising the second tranche of its financial advice reforms...
Life Insurance
Advisers flag ‘issue of equity’ on genetic testing ban
24 March 2025
Financial Advisers Association Australia has raised concerns over the proposed ban on the use of genetic test results in life underwriting...
AIA calls for tax break to promote insurance
24 March 2025
AIA has urged the federal government to consider tax incentives to encourage take-up of life insurance and related financial advice...
Premium change disputes ‘never seem to go away’, AFCA says
24 March 2025
Life insurers may need a better way of explaining how stepped premiums are calculated, the Australian Financial Complaints Authority told a member forum...
Consumer group demands fix for ‘harrowing’ group life failings
24 March 2025
Super Consumers Australia has called for a review of group insurance to “close the gaps” in service...
Super fund accused of claims handling failures
17 March 2025
The corporate regulator has taken legal action against AustralianSuper over its alleged failure to process and pay thousands of death benefit claims “as soon as practicable”...
AFCA rejects $500k lost earnings bid after premium error
17 March 2025
A policyholder who argued his life insurer should pay $500,000 for lost investment earnings after overcharging his premiums has lost a case before the Australian Financial Complaints Authority...
Consumer groups push for immediate genetic test ban
17 March 2025
The proposed ban on the use of genetic test results in life underwriting should start immediately after federal parliament passes the draft bill, consumer advocates say...
RGA names new Australia chief
17 March 2025
Reinsurance Group of America says Alissa Holz will become CEO for Australia and New Zealand next month...
Code update ‘formalises support’ for people with HIV
10 March 2025
Life insurers will no longer ask questions about sexual preferences and practices during underwriting assessments, under changes to the industry’s code of practice...
Industry’s inaugural conference looks ‘beyond the horizon’
10 March 2025
The Council of Australian Life Insurers will hold a conference in Sydney next month – its first since the peak body was formed in 2022...
MLC Life Insurance urges action to lift take-up among women
10 March 2025
MLC Life Insurance head of group claims Tamara Bailey has urged the industry to do more to address women’s insurance needs...
Chubb Life NZ recruits IAG exec for CEO role
10 March 2025
Chubb Life New Zealand says Paula ter Brake will become CEO on May 5, replacing the retiring Gail Costa...
Industry profit collapses as investments, underwriting earnings drop
03 March 2025
The life industry suffered a weak December quarter as investment returns plunged and key risk products delivered lower underwriting earnings...
ClearView reprices legacy products after earnings slide
03 March 2025
ClearView Wealth has posted weaker first-half-earnings and says repricing of its LifeSolutions product is a focus after the legacy portfolio caused a claims loss in the first quarter...
Acenda names inaugural chair
03 March 2025
MLC Life Insurance independent non-executive director Craig Dunn has been appointed chair of Acenda...
Former CBA exec to head TAL board
03 March 2025
TAL has named former Commonwealth Bank deputy CEO David Cohen as its new chair, with former Actuaries Institute president Annette King also joining the board...
Insurers back APRA consultation on annuity products
03 March 2025
The Australian Prudential Regulation Authority will hold a public consultation in the second quarter of this year on capital settings for annuity products...
Industry guide outlines support for domestic violence survivors
24 February 2025
The Council of Australian Life Insurers has prepared a guide for members on supporting victims and survivors of domestic violence...
St Andrew’s aims to provide ‘more choice’ with distribution deal
24 February 2025
St Andrew’s Insurance Group has formed a distribution pact with Neilson Financial Services, which it says marks a “significant milestone” in its strategy...