AMP’s acting CEO joins FSC board
19 October 2020
The Financial Services Council has announced the appointment of AMP Australia acting CEO Blair Vernon as a board director...
Life Insurance
AGI rejigs brand with two new-look websites
19 October 2020
Third-party group insurance administrator Australian Group Insurances is introducing a new “brand aesthetic” with the launch of two refreshed websites...
FSC’s 2020 advice summit to be held online tomorrow
19 October 2020
The Financial Services Council is holding its 2020 Future of Advice Summit tomorrow, featuring industry, regulatory and academic leaders discussing Australia’s financial advice landscape in detail...
Budget draws mixed reactions from advisers
12 October 2020
Advisers have voiced disappointment at the lack of specific measures in last week’s Federal Budget that would support the drive to encourage Australians to seek professional financial advice...
AFCA rules funeral insurer ‘misled’ Indigenous woman
12 October 2020
Funeral insurer Aboriginal Community Benefit Fund has been found to have misled an Indigenous woman who bought a policy in 2006 under the impression that the plan would benefit her community...
Adviser group calls for dropping of ‘best interest’ obligation
12 October 2020
Synchron has called for the scrapping of the Best Interests Duty regulation that life advisers must comply with, suggesting consumers would be better served instead with a “requirement to provide appropriate advice”...
MLC Life appoints three general managers
12 October 2020
MLC Life Insurance has expanded its group insurance team with three new GM appointments...
AFA unveils on-demand program, masterclasses for annual conference
12 October 2020
The Association of Financial Advisers has announced an On-Demand program and Masterclasses for this week’s annual conference...
APRA warns individual DII woes must end as intervention looms
05 October 2020
Individual disability income insurance providers must immediately work on turning around the money-losing product line or face additional upfront capital penalties from the Australian Prudential Regulation Authority...
...Life industry backs actuaries’ DII rescue plan
05 October 2020
The Actuaries Institute’s proposed measures to turn around the ailing disability income insurance market have the backing of key stakeholders, the Financial Services Council and major life insurer AIA...
Code breaches fall but under-reporting remains a concern
05 October 2020
Life Insurance Code of Practice breaches in the last financial year fell 29% to 171, including 44 that were reported by subscribers as significant...
Personalise, innovate, reinvent: advice for life insurers
05 October 2020
Consultancy McKinsey has outlined three ways in which life insurers can re-establish a central partnership in customers’ lives...
WA adviser charged with dishonest conduct
05 October 2020
The Australian Securities and Investments Commission has commenced civil action against WA adviser Rahul Goel, alleging he acted dishonestly while running his financial services company AR Wealth and Finance last year...
ALUCA names excellence award finalists
05 October 2020
The Australasian Life Underwriting and Claims Association has announced the contenders for its annual excellence awards...
CBA receives further payment from CommInsure sale
05 October 2020
Commonwealth Bank of Australia has received a further $450 million from AIA as part of the sale of its Australian life insurance business CommInsure...
Industry feeling mental strain of remote working
05 October 2020
About 79% of life insurance professionals are experiencing more job stress since work from home arrangements started in late March because of the pandemic, according to research from the Australasian Life Underwriting and Claims Association...
Integrity Life raises $43 million
05 October 2020
Sydney-based Integrity Life has secured $43 million to support further development of its digital-led insurance offering...
Olympian to speak at AFA’s October conference
05 October 2020
The Association of Financial Advisers has named Australian Olympic champion Cathy Freeman as the keynote speaker at its Vision Conference, which will be broadcast from Sydney’s Museum of Contemporary Art on October 14-15...
Correction: MLC Chief Life Insurance Officer
05 October 2020
An article in last week’s Life Insurance section confused the job titles and backgrounds of MLC Chief Life Insurance Officer Sean McCormack and Chief Group Insurance Officer Sean Williamson...
Actuaries present proposals to save DII market
28 September 2020
The Actuaries Institute has published for consultation a report proposing sweeping reforms for the ailing retail disability income insurance market...