ALP flags long wait to examine life commission changes
13 February 2017
Labor says adviser concerns at the way commission payments will work can be raised at the Australian Securities and Investments Commission’s industry review in 2021…
Life Insurance
Suncorp weighs Asteron sale under life revamp
13 February 2017
Asteron’s future under Suncorp is uncertain, with the parent revealing it is considering selling the business…
Retailers a ‘threat and opportunity’ for life insurers
13 February 2017
Retailers may provide life insurers with a new distribution channel, according to Bravura’s latest Life Insurance Megatrends report…
Life woes drag AMP to $344 million loss
13 February 2017
Poor performance from AMP’s life insurance business has forced the parent to report a $344 million loss for last year…
Expanded product lists ‘won’t stop bad advice’
13 February 2017
Broader life insurance approved product lists are unlikely to improve the quality of financial advice, the Australian Securities and Investments Commission says…
Cancer rates continue to fall
13 February 2017
More than 134,000 cancer cases will be diagnosed in Australia this year, but death rates are continuing to fall…
Professional standards bill passes Parliament
13 February 2017
A bill raising required education standards for advisers has passed both houses of Parliament, but Labor is still pushing for a royal commission on banks…
Keep ASIC out of claims, says FSC
13 February 2017
The Financial Services Council has rejected calls for legislation allowing the Australian Securities and Investments Commission to get involved in claims disputes…
Life insurers urged to ‘carry their share’ on further reforms
13 February 2017
The Association of Financial Advisers wants further life insurance industry reforms despite passage of the Life Insurance Framework bill last week…
Graduates not solely driven by pay, research shows
13 February 2017
Pay is not a major factor in career choices among graduates in the financial services industry, according to a new report from recruitment company Grad Mentor, supported by Zurich…
CBA completes advice review assessments
13 February 2017
Commonwealth Bank has completed all assessments in its Open Advice Review program, examining advice provided by Commonwealth Financial Planning and Financial Wisdom…
Adviser calls for clearer picture on churn
06 February 2017
A life insurance adviser has called for more accurate data on churning before any legislation is enforced…
Automation aims to enhance adviser role: MLC
06 February 2017
Automating aspects of the life insurance advice process must add value to the adviser’s role, according to MLC Life Chief Customer Officer, Retail Advised Insurance Melissa Heyhoe…
AIA backs claims support service over lawyer intervention
06 February 2017
AIA Australia has called for an industry-funded independent service to help consumers, particularly superannuation fund members, lodge life insurance claims…
Infocus signs referral deal with H&R Block
06 February 2017
Infocus Wealth Management has formed an exclusive referral relationship with one of Australia’s largest accounting firms, H&R Block…
ASIC forces NAB to review group life compliance
06 February 2017
NAB’s wealth management superannuation funds trustee has been censured for a number of compliance issues around group life insurance policies…
TAL identifies ‘new breed’ of buyer
06 February 2017
TAL says a new kind of client is buying direct life insurance…
Asia the bright spot as MetLife income tanks
06 February 2017
MetLife says operating earnings in Asia grew by $US100 million to $US1.3 billion last year…
APRA reveals friendly societies’ performance
06 February 2017
Friendly societies earned $18.3 million in direct life insurance premium in the year to June 30, according to Australian Prudential Regulation Authority data…
Banks step up information-sharing on bad apples
06 February 2017
The Australian Bankers’ Association has developed a reference-checking and information-sharing protocol to help members share knowledge of bad advisers and stop them moving around the industry…