insuranceNEWS.com.au https://www.insurancenews.com.au/ General insurance and financial services news from Australia and around the world en-au admin@insurancenews.com.au Copyright 2019 Regulatory scrutiny is life insurersí highest hurdle: EY https://www.insurancenews.com.au/life-insurance/regulatory-scrutiny-is-life-insurers-highest-hurdle-ey https://www.insurancenews.com.au/life-insurance/regulatory-scrutiny-is-life-insurers-highest-hurdle-ey More stringent regulation is the top challenge faced by life insurers in Australia and scrutiny of commissions here may limit investment in technology, a new report from EY says...

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Mon, 09 Dec 2019 14:28:00 +1100
AFCA attacks use of Ďmedical jargoní in policy https://www.insurancenews.com.au/life-insurance/afca-attacks-use-of-medical-jargon-in-policy https://www.insurancenews.com.au/life-insurance/afca-attacks-use-of-medical-jargon-in-policy TAL must pay a trauma claim for a customer who suffered a heart attack even though he wasn’t covered by the policy, in a decision influenced by the emerging controversy over universal terms and conditions and criticising the Life Insurance Code of Practice...

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Mon, 09 Dec 2019 14:27:00 +1100
Claims delays: AMP answers consumer groupís broadside https://www.insurancenews.com.au/life-insurance/claims-delays-amp-answers-consumer-groups-broadside https://www.insurancenews.com.au/life-insurance/claims-delays-amp-answers-consumer-groups-broadside AMP Life is defending its claims-handling for group insurance after Choice subsidiary Super Consumers Australia labelled delays “abhorrent” in an open letter...

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Mon, 09 Dec 2019 14:27:00 +1100
Employees Ďdonít understand life insurance benefitsí https://www.insurancenews.com.au/life-insurance/employees-dont-understand-life-insurance-benefits https://www.insurancenews.com.au/life-insurance/employees-dont-understand-life-insurance-benefits Life insurance policies are rated as key employee benefits, yet only 60% of employees understand how they work, a MetLife report says...

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Mon, 09 Dec 2019 14:26:00 +1100
Donít ignore insurance, ASIC warns fundsí advisers https://www.insurancenews.com.au/life-insurance/dont-ignore-insurance-asic-warns-funds-advisers https://www.insurancenews.com.au/life-insurance/dont-ignore-insurance-asic-warns-funds-advisers The corporate regulator is warning superfunds providing scaled advice to members to address members’ insurance needs, after uncovering a number of cases where advisers inappropriately excluded insurance from discussions...

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Mon, 09 Dec 2019 14:26:00 +1100
OnePath must pay more interest in AFCA decision https://www.insurancenews.com.au/life-insurance/onepath-must-pay-more-interest-in-afca-decision https://www.insurancenews.com.au/life-insurance/onepath-must-pay-more-interest-in-afca-decision OnePath must pay extra interest on a total and permanent disability benefit amount for a claim that it took more than three years to accept, the Australian Financial Complaints Authority says...

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Mon, 09 Dec 2019 14:25:00 +1100
High-risk workers also risk being uninsured https://www.insurancenews.com.au/life-insurance/high-risk-workers-also-risk-being-uninsured https://www.insurancenews.com.au/life-insurance/high-risk-workers-also-risk-being-uninsured Some superannuation members in dangerous jobs may be left uninsured in a workplace accident if their superfund decides it is too difficult to apply an exemption in recent super insurance legislation, according to a new paper...

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Mon, 09 Dec 2019 14:24:00 +1100
TAL continues free pop-up skin clinics for beachgoers https://www.insurancenews.com.au/life-insurance/tal-continues-free-pop-up-skin-clinics-for-beachgoers https://www.insurancenews.com.au/life-insurance/tal-continues-free-pop-up-skin-clinics-for-beachgoers Life insurer TAL is raising skin-cancer awareness with free pop-up skin check clinics at three of Australia’s most popular beaches as summer gets underway...

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Mon, 09 Dec 2019 14:24:00 +1100