Senators push for new financial services inquiry
27 March 2017
Legislation was introduced to the Senate last week calling for the equivalent of a royal commission into the financial services industry…
Life Insurance
Extend unfair contracts terms to life cover: AFA
27 March 2017
Unfair contract terms should be statutorily extended to life insurance contracts, the Association of Financial Advisers says…
AMP advice boss joins FSC board
27 March 2017
AMP Group Executive Advice and New Zealand Jack Regan has been appointed to the Financial Services Council board…
National claim rejection rate drops below 10%, study shows
20 March 2017
Australia has a declined claims rate of 9.8%, which is a similar rate to China, according to research by Gen Re…
MLC walks MPs through pricing decisions
20 March 2017
MLC Life Insurance has not raised premiums on its income protection products since 2015, despite the business losing money, CEO David Hackett says…
NAB funds adviser education and research
20 March 2017
NAB Financial Planning will support an annual university scholarship and academic research that aids advisers…
Super industry moves to improve group life data
20 March 2017
A guidance note from the Australian Institute of Superannuation Trustees, the Financial Services Council, the Industry Funds Forum and Industry Super Australia aims to improve the quality and availability of group life insurance data…
AIA chief leaves for HSBC
20 March 2017
Group CEO Mark Tucker will leave AIA to become non-executive Group Chairman of HSBC Holdings…
FPA calls for clarity on ASIC funding proposal
20 March 2017
The Financial Planning Association has attacked a “lack of transparency” in proposed legislation covering funding for the Australian Securities and Investments Commission…
AIA researches workplace health
20 March 2017
Australia will feature in an AIA Vitality survey on healthy workplaces in Asia, to be conducted by Rand Europe and academic institutions around the region…
Institutions failing on adviser checks, breach reports: ASIC
20 March 2017
An Australian Securities and Investments Commission review of institutional advisers has found poor reference-checking and failure to inform the regulator of breaches…
Long-serving AMP director to step down
20 March 2017
AMP non-executive director Peter Shergold will retire at the group’s AGM on May 11…
Life insurers must rebuild businesses to survive: PWC
20 March 2017
Australian life insurers must focus more on market segments than being all things to all people, according to a PricewaterhouseCoopers industry report…
ASIC takes advice group to court over alleged best-interests breaches
20 March 2017
The Australian Securities and Investments Commission has taken a Melbourne financial advice business to court for failing to act in consumers’ best interests…
NZ life insurer gains first rating
20 March 2017
Fitch has given New Zealand-based Manchester Unity Friendly Society a BB- rating and a stable outlook…
Crunch time looms for old life advisers
13 March 2017
The clocking is ticking for older life insurance advisers contemplating whether to stay in the industry or quit, with changes to remuneration and education standards due this year, according to Connect Financial Service Brokers CEO Paul Tynan…
Hearing grills CBA chief over TPD claims ‘cover-up’
13 March 2017
Commonwealth Bank has been forced to defend itself against politicians’ criticisms of a Deloitte review of CommInsure’s claims-handling practices…
Telesales grow as UK buyers turn away from advisers
13 March 2017
A UK survey shows a growing trend for buying life insurance over the phone, while online purchases are static…
Ex-Zurich GM takes over at AFA
13 March 2017
The Association of Financial Advisers has found a replacement for outgoing CEO Brad Fox, selecting former Zurich GM life and investments Phil Kewin for the role…
Working group pushes for a better life deal from funds
13 March 2017
Super funds need to assess whether the levels of insurance for its members are affordable and do not erode retirement balances, the Insurance in Superannuation Working Group says…