Review finds code breaches on mental illness
22 September 2025
Some life insurers still apply blanket mental health exclusions, flouting the industry’s code of practice, a review has found...
Life Insurance
AFCA seeks feedback on misrepresentation approach
22 September 2025
The financial services ombudsman has drafted new guidance on its handling of life insurance disputes related to the duty to take reasonable care not to make misrepresentations...
Industry needs ‘different playbook’ for under-40s
22 September 2025
About 68% of consumers aged under 40 in Australia and other advanced markets see life insurance as essential but are not acting on it, a report co-authored by consultant Capgemini has found...
Builder exaggerated condition to score income coverage
22 September 2025
A builder who received income protection payouts then made promotional videos for social media and was filmed playing tennis has lost a complaint before the financial services ombudsman...
PPS director takes top seat
22 September 2025
Specialist life insurer PPS says director Anthony Asher will become its next chair, replacing the retiring Mike Jackson...
Zurich loan cover ‘combines life, income protection’
15 September 2025
Zurich has launched Home Loan Protection, a cover that automatically adjusts its premiums as an insured’s mortgage is reduced...
AMP reaches deal with insurers after claim row
15 September 2025
AMP has received about $44 million from insurance claims to cover historical remediation programs that ended in 2022...
Payout rejected after claimant denied having tests
15 September 2025
Hannover Life Re does not have to pay a terminal illness benefit after it showed a policyholder did not answer questions correctly when applying for cover...
FSC hands out industry awards
15 September 2025
The Financial Services Council of New Zealand named the winners of its annual excellence awards last week...
Spread compo scheme charge across sectors, advisers say
08 September 2025
Financial advisers say a planned special levy to plug a gap in Compensation Scheme of Last Resort funding should be “spread as broadly as possible” across subsectors...
Insurer told to pay interest on delayed TPD payout
08 September 2025
The industry ombudsman has overturned decisions by an insurer and superannuation fund trustee after the former took too long to pay a claim...
Minister to address FAAA conference
08 September 2025
Daniel Mulino will speak at Financial Advice Association Australia’s annual conference in November...
CALI opens female adviser grant program
08 September 2025
The Council of Australian Life Insurers has opened applications for its ReCALIbrate program promoting opportunities for women in financial risk advice...
Key lines, investment income lift industry result
01 September 2025
The life industry made an after-tax profit of $360 million in the June quarter, up from $116 million a year earlier, as key products delivered higher earnings...
NZ regulator warns of rise in advice fraud
01 September 2025
A financial adviser accused of fraudulently applying for life and health insurance for non-existent people has had his licence cancelled...
ClearView upbeat after repricing legacy products
01 September 2025
Life insurer ClearView Wealth expects to do better this financial year after posting a drop in 2024-25 earnings...
CALI flags ‘flow-on effects’ from NSW workers’ comp overhaul
01 September 2025
Life insurers have warned of adverse claims impacts under proposed reforms to the NSW workers’ compensation scheme...
Industry on notice after ASIC review
25 August 2025
The life industry is under pressure after an Australian Securities and Investments Commission review found “notable deficiencies” in the way products are sold direct to consumers...
Group premiums continue to climb amid challenges
25 August 2025
Premiums on group life insurance policies with long-term benefit periods increased 15%-25% on average in the first half, according to a Marsh Australian mid-year market update...
NZ advisers salute code update
25 August 2025
Financial Advice New Zealand has hailed the new industry code as a “defining moment in the evolution of our profession”...