Industry bodies back standards bill
28 November 2016
Industry associations have welcomed the introduction to Parliament of legislation designed to raise the professional standards of financial advisers…
Life Insurance
Committee calls for ASIC intervention powers and executive shaming
28 November 2016
A parliamentary inquiry into the big four banks has called for the Australian Securities and Investments Commission to have product intervention powers…
MetLife returns to ‘significant insurers’ list
28 November 2016
MetLife has re-appeared on the latest list of global systemically important insurers, despite winning a US court case earlier this year ordering its removal…
Diabetes and obesity block progress on heart disease
28 November 2016
Rising rates of Type 2 diabetes and obesity are ushering in a new era of heart disease and jeopardising national life expectancy gains, according to a new report…
FPA recognises leading advisers
28 November 2016
A Melbourne-based adviser won this year’s Gwen Fletcher Memorial Award at the Financial Planning Association’s conference in Perth last week…
AIA poaches Mercer group life contract from AMP
28 November 2016
AMP has lost the Mercer group life insurance contract to AIA Australia following a competitive market tender…
NAB cuts entry-level advisers in division overhaul
28 November 2016
NAB Financial Planning has dropped 55 entry-level financial advisers from its dealer group, taking the total to 35…
Investment woe drags on life results
21 November 2016
Life insurers’ gross policy revenue grew to $22.1 billion in the year to September 30 from $20 billion the previous year, according to latest industry figures from the Australian Prudential Regulation Authority…
Direct insurer tops table for customer loyalty
21 November 2016
Almost half of InsuranceLine customers are “extremely likely” to renew their policies with the direct life insurer, according to new research from Roy Morgan…
New group contracts help TAL power ahead
21 November 2016
TAL has reported a 62% rise in ordinary profit to $122 million for the six months to September 30…
Study reveals scale of SME underinsurance
21 November 2016
Almost one in five SME owners believe their insurance would be unable to cover their income for a week after a catastrophic event, industry super fund REST says…
Adviser banned over life policy churn
21 November 2016
A former Sentinel Private Wealth adviser has been banned from the industry for five years for churning…
S&P forecasts flat premium growth
21 November 2016
Australian life insurance premium growth will remain flat next year at less than 10%, according to a report from S&P Global Ratings…
Adelaide adviser banned over fraudulent documents
21 November 2016
An Adelaide-based AMP adviser has been banned for eight years over fraudulent paperwork…
BT Life dominates consumer awards
21 November 2016
BT Life has been named “most recommended company” at the inaugural Association of Financial Advisers and Beddoes Institute Consumer Choice Awards, beating finalists OnePath and TAL…
FPA charity cyclists hit the road
21 November 2016
This year’s Future2 Wheel Classic set off from Perth last week, with 19 cyclists raising funds for the Financial Planning Association’s charity…
FSC rejects ‘flawed’ government-run group life proposal
14 November 2016
The Financial Services Council says superannuation fund trustees should be allowed to select their group life insurance providers rather than be part of a government-run tender process…
AFA wants clarity on clawback obligation
14 November 2016
The Association of Financial Advisers wants the Life Insurance Framework regulations to define who is responsible for clawback provisions…
Banks ‘missing out on cross-selling opportunities’
14 November 2016
Many US consumers do not realise banks sell other services such as financial advice, limiting the institutions’ ability to cross-sell, a new report from research house Cerulli says…
Insurers urged to strike cost-claims balance in group cover
14 November 2016
Group life insurance must balance affordability with its ability to pay claims, according to former Association of Superannuation Funds Australia acting CEO Jim Minto…