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...
Life Insurance
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...
Auckland adviser jailed for policy fraud
05 May 2025
Former adviser Harish Puri has been jailed three years for life insurance fraud, New Zealand’s Financial Markets Authority says...
TAL to hold ethics webinar series
05 May 2025
The TAL Risk Academy will again host a month-long webinar series educating financial advisers on ethical considerations...
APRA breaks down claim, dispute figures
28 April 2025
The prudential regulator has released annual claim and dispute data for the life sector, with distribution channel and company breakdowns...
ALUCA announces excellence awards contenders
28 April 2025
The Australasian Life Underwriting and Claims Association has named the finalists in its annual Life Insurance Excellence Awards...
Challenger narrows profit outlook after Q3 ‘momentum’
28 April 2025
Challenger has tightened its full-year earnings guidance range, with the midpoint representing 10% growth on the previous year...
TAL joins forces with heart disease charity
28 April 2025
TAL has struck a three-year partnership with the Heart Foundation and flagged further investment in preventative health support...
Swiss Re sells Australian portfolio to Hannover
14 April 2025
Swiss Re has agreed to transfer its Australian direct life insurance policies to Hannover Life Re of Australasia...
TPD claim fails after form sent but not received
14 April 2025
A woman who posted a signed form opting in to insurance despite having a low superannuation balance cannot make a disability claim because her fund’s trustee says the declaration did not arrive...
Financial strain hampers life take-up, CALI warns
14 April 2025
The Council of Australian Life Insurers says worsening cost-of-living pressures are forcing people to go uninsured and ditch conventional mental health support...
ASIC issues unregistered adviser penalties
14 April 2025
Three financial services licensees have been hit with $31,300 penalties after unregistered staff gave personal advice to retail clients...
Insurers urged to embrace era of ‘significant change’
07 April 2025
Life insurers “have never had a better opportunity” to shape the industry’s future, according to Acenda CEO and MD Kent Griffin...
NZ regulator checks up on advice reforms
07 April 2025
New Zealand’s Financial Markets Authority will review the accessibility of advice to determine if changes to regulations in the past few years have delivered for consumers...
TAL to take minority stake in Challenger
07 April 2025
Life insurer TAL has agreed to buy MS&AD Insurance Group Holdings’ 15.1% stake in listed Australian wealth group Challenger for ¥80 billion ($909.28 million)...