PPS Mutual unveils income protection cover for new professionals
22 February 2021
Specialist life insurer PPS Mutual has introduced an income protection offering for newly qualified professionals such as doctors, lawyers and accountants...
Life Insurance
COVID disruption sparks planners to make adjustments: survey
15 February 2021
Financial planners have responded to the business disruption arising from the pandemic by making changes to their risk advice operations, research house Investment Trends says in a new report...
TAL policyholder wins partial payout for depression claim
15 February 2021
The Australian Financial Complaints Authority has ruled a TAL customer who holds an income protection policy can only claim for a few months of benefit payment, rejecting his arguments that he was entitled to a bigger payout...
APRA outlines super work targets
15 February 2021
The Australian Prudential Regulation Authority is working towards publishing enhanced data on group insurance some time next year, Deputy Chairman Helen Rowell said in a speech...
ASIC imposes extra conditions on wealth firm to address lapses
15 February 2021
Additional licence conditions have been placed on Poynter Hargraves Financial Consultants after it was found to have poor risk controls around conflict management and other lapses, the Australian Securities and Investments Commission says...
Challenger books 10% rise in first-half life sales
15 February 2021
Investment group Challenger says total life sales in the December half rose 10% from a year earlier to $3.4 billion, illustrating the success of its revenue diversification strategy...
DII providers ‘most vulnerable’ to COVID fallout: APRA
08 February 2021
The Australian Prudential Regulation Authority warns the troubled individual disability income insurance product line faces possibly more losses in the coming months because of the COVID-19 pandemic fallout...
Advisers have ‘significant opportunity’ to rebuild: Oliver Wyman
08 February 2021
Consultancy Oliver Wyman has urged financial advisers to view the “evolving market structure” arising from increased regulatory scrutiny as a significant rebuilding opportunity for the industry...
TAL records highest premium inflows
08 February 2021
Market leader TAL enjoyed an annual 15.7% surge in risk premium inflows to $4.39 billion for the 12 months to September, giving it a 27.3% share of the overall business generated during the period, new figures from actuaries and researchers Plan for Life shows...
AM Best warns ‘fresh headwinds’ in store for NZ life insurers
08 February 2021
Increased regulations, competitive pressure and economic uncertainties created by COVID-19 have produced “fresh headwinds” for the New Zealand life insurance industry, AM Best warns in a new report...
FPA slams ‘unpredictable’ ASIC levy in budget submission
08 February 2021
The Financial Planning Association has called for a review of the levy funding model used by the corporate regulator to support its regulatory work...
MetLife survey finds link between employee loyalty and workplace support
08 February 2021
Providing employee benefits such as flexible work arrangements and extra paid parental leave will lead to increased productivity and retention of talented staff, a MetLife Australia survey has found...
TAL unveils 2021 Risk Academy program
08 February 2021
TAL has launched this year’s prospectus for TAL Risk Academy, its adviser education program...
AMP ordered to pay $450,000 after client dies with no cover
01 February 2021
AMP Financial Planning must pay more than $450,000 to the children of a man who died in an accident after his life insurance was allowed to lapse...
Sydney adviser banned for three years over best-interest failures
01 February 2021
A Sydney-based financial adviser who failed to provide advice that was in the best interests of his clients and did not keep proper records of his work has been banned for three years from the financial services industry...
MLC names life insurance chief, gets more capital aid from Nippon Life
01 February 2021
MLC Life Insurance has appointed Michael Rogers as Chief Life Insurance Officer, replacing Sean McCormack who took on the newly created role last year and will leave the business on February 26...
NAB sells New Zealand life arm for $269 million
01 February 2021
NAB is selling its New Zealand life insurance business, BNZ Life, for $NZ290 million, with the transaction set to close later this year pending approvals from regulatory authorities...
MetLife supports advisers with confronting new podcast
01 February 2021
MetLife has advised listener discretion due to the confronting content of its latest ‘MetLife Insights’ podcast which aims to raise awareness about mental health and suicide among advisers and encourage them to seek help...
Advisers back Canberra’s move to kill off FASEA
14 December 2020
Key peak bodies have expressed support for the Morrison Government’s decision to wind up the Financial Adviser Standards and Ethics Authority and introduce other measures that will reduce red tape...
ASIC updates conflicted remuneration regulatory guide
14 December 2020
The Australian Securities and Investments Commission has updated its regulatory guide on conflicted and other banned remuneration to take into account recent legislative changes...