insuranceNEWS.com.au - Life Insurance

Fund that charged dead members cops $10m penalty

Mon, 29 Jun 2026 04:47:08 GMT

The Federal Court has ordered Mercer Super to pay $10.3 million in penalties for failing to tell the corporate regulator about its internal investigations into significant issues...

Cancer serious but falls short of policy definition

Mon, 29 Jun 2026 04:46:58 GMT

A claimant who argued his life insurer’s definition of cancer was too narrow has lost his bid for benefits...

ASIC review finds ‘deeply concerning’ super trustee flaws

Mon, 29 Jun 2026 04:46:47 GMT

Superannuation trustees are failing to protect members’ retirement savings from harmful advice fees and inappropriate investments, the corporate regulator has found...

Code committee appoints new consumer rep

Mon, 29 Jun 2026 04:46:29 GMT

Consumer Action Law Centre managing lawyer Anna Meulman will join the Life Insurance Code Compliance Committee from Wednesday...

Allianz Retire+ welcomes pick-up in guaranteed income business

Mon, 29 Jun 2026 04:46:14 GMT

Allianz Retire+ says its AGILE product has enjoyed “strong momentum” after changes were made to the annuity offering...

Judges reject watchdog’s appeal over unfair contract term decision

Mon, 22 Jun 2026 04:34:19 GMT

The corporate regulator has lost its appeal against a Federal Court ruling that a pre-existing condition clause in some HCF Life products did not breach unfair contract term laws...

Company warned over 358 claims handling breaches

Mon, 22 Jun 2026 03:54:26 GMT

An unnamed life insurer has been sanctioned over “significant” claim processing delays that in some cases stretched to more than eight months...

Technology cutting claim times, TAL says

Mon, 22 Jun 2026 03:54:15 GMT

TAL says it paid $4.7 billion in benefits to 57,000 customers in the year to March 31, with “living insurance” claims accounting for 75% of sum...

Acenda disputes union attack on staff deal

Mon, 22 Jun 2026 03:40:00 GMT

Acenda has rejected Finance Sector Union claims that employees will be worse off under its proposed enterprise agreement on salary and other work-related contract terms...

NZ drops climate reporting for life insurers

Mon, 22 Jun 2026 03:39:48 GMT

The New Zealand government has removed life and health insurers from its climate-related disclosure regime...

Lung condition falls short of end stage requirement

Mon, 22 Jun 2026 03:39:36 GMT

An insurer was right to reject a trauma claim from a woman with interstitial lung disease because her condition did not meet its policy definition, the industry ombudsman has ruled...

‘No excuse’: ASIC slams trustees over death claims

Mon, 15 Jun 2026 05:15:49 GMT

Super trustees’ management of death benefit claims is still not meeting fund members’ expectations, despite a 53% drop in internal complaints about delays, the Australian Securities and Investments Commission says...

Treasury seeks feedback on genetic test regulations

Mon, 15 Jun 2026 04:44:27 GMT

Federal Treasury is consulting on draft regulations governing the incoming ban on using genetic test results in life insurance...

Dispute body eyes rule changes to ‘keep pace’ with gene test ban

Mon, 15 Jun 2026 04:44:19 GMT

The industry ombudsman has proposed rule changes that will allow it to handle disputes related to the ban on the use of genetic test results in life underwriting...

Industry flags downsides to lead generation crackdown

Mon, 15 Jun 2026 04:44:11 GMT

Life insurers say lead generation “plays an important role” for consumers who need information, as the federal government considers a clampdown on unsolicited marketing...

ALUCA names award winners

Mon, 15 Jun 2026 04:43:55 GMT

More than 300 professionals gathered in Sydney last Tuesday as winners were announced in this year’s Annual Life Insurance Excellence Awards...

TAL makes board appointments

Mon, 15 Jun 2026 04:43:17 GMT

TAL says Angela Mentis and Akifumi Kai have joined as directors following the retirement of Christine Bartlett...

NZ advice body to hold policy summit

Mon, 15 Jun 2026 04:43:09 GMT

Financial Advice New Zealand’s first Advice Policy Summit will be held on July 28 in Auckland...

Industry profit down amid investment slump

Mon, 01 Jun 2026 04:20:28 GMT

The life industry made a profit of $121 million from continuing operations after income tax in the March quarter, down from $332 million a year earlier...

Watchdog rules out TPD intervention – for now

Mon, 01 Jun 2026 04:19:55 GMT

The prudential regulator has no immediate plans to act on the total and permanent disability line, even as worsening mental health claim losses raise questions over its viability...