20 April 2020
Super trustees have been issued a temporary no-action position, allowing them to expand the scope of personal advice that may be provided to consumers in need of help to cope with the economic fallout from the coronavirus outbreak...
06 April 2020
The Australian Financial Complaints Authority has found TAL Life has no grounds to reject a claim for critical illness benefit lodged by a policyholder who had aorta repair and replacement surgery in November 2016...
06 April 2020
The coronavirus outbreak has underscored once again the importance of understanding exclusion clauses in life policies, according to Finlaysons Lawyers...
06 April 2020
The Australian Securities and Investments Commission has spelled out new obligations for funeral cover providers as Hayne royal commission reforms take effect this month...
06 April 2020
Commonwealth Bank has received further payment of about $865 million from AIA as part of the sale agreement for its life business CommInsure...
06 April 2020
The Financial Services Council supports greater compliance and enforcement activities aimed at strengthening the legality and penalty framework of the current unfair contract terms regime...
30 March 2020
Australia's life insurers and its Asia Pacific counterparts are in a for a "rough ride" as the coronavirus pandemic wreaks havoc on the global financial markets, S&P Global Ratings has warned...
30 March 2020
New TAL life policyholders may be offered "modified terms" after the insurer moved to change its underwriting guidelines to take into account risks arising from the coronavirus pandemic...
30 March 2020
TAL has agreed to waive the pandemic exclusion that comes with policies that are sold through its four superannuation funds partners – TWU Superannuation Fund, NGS Super, UniSuper and Prime Super...
30 March 2020
A WA adviser has been banned from the industry for four years over his failure to comply with financial services laws...
30 March 2020
Challenger has announced measures to ensure its life business is sufficiently capitalised to weather the financial market volatility caused by the coronavirus pandemic...
30 March 2020
Australians taking up an offer to access up to $10,000 of their retirement savings tax-free this year are advised to be careful not to trigger automatic cancellation of their superannuation insurance...
30 March 2020
AMP has withdrawn the earnings guidance it issued just last month, but says the sale of its life insurance business is still on track to be completed by the end of June...
23 March 2020
AIA Australia has appointed Marsh and McLennan Chief Country Officer Ben Walsh to the newly created role of Chief Life Insurance Officer, effective from June...
23 March 2020
A government plan to automatically cancel some superannuation insurance next month should be put on ice given the uncertainty over the COVID-19 pandemic, law firm Slater and Gordon says...
23 March 2020
The life industry has provided further clarification on pandemic exclusions after an original statement was withdrawn last week...
23 March 2020
HESTA has confirmed today that AIA Australia, the underwriter of the super fund’s life insurance covers, will not invoke the pandemic exclusion that comes with the policies...
23 March 2020
The Financial Services Council has urged the prudential regulator to review its plans for improving the transparency of published data...
23 March 2020
AMP Life has been charged a penalty of $275,500 for breaching reporting rules on more than 10,000 derivative transactions over the course of 32 months...
23 March 2020
Pacific Life Re Australia has appointed former CommInsure CFO and Chief Actuary Jennifer Lang to its board...