Insurance

13 November

Insurance

AMP claims vindication on Resolution transaction

AMP Limited has pointed to an Australian Securities Exchange decision as vindicating the nature of its insurance

Australia’s income protection insurers need to be empowered to provide greater support to claimants with psychological conditions, FSC chief executive, Sally Loane believes.

6 November

Insurance

Insurers perpetuating “stigma-laden policies”: APS

As the insurers scramble to navigate increasing mental health concerns, the Australian Psychological Society has

The Australian Securities and Investments Commission (ASIC) has confirmed it has initiated a project which will closely examine life insurance within superannuation. The regulator has flagged that it intends on publishing a report on life insurance within

1 November

Insurance

Govt should legislate if it wants mandatory code

The Association of Superannuation Funds of Australia has told the Royal Commission that if the Government wants

2021-01-29 00:30:00

Knowledge Centre

Themes driving the need for a more sustainable approach to investing

Sustainable investing is on the rise, and COVID-19 has only sharpened the focus of policy makers and investors...

Ausbil

The retail funds industry has traditionally focused on clients aged 45 and over but this will need to change as baby boomers draw down on their wealth, which could potentially pose a threat to industry funds, according to Tria Investment Partners. The fir

1 November

Insurance

Govt urged to drop insurance opt-in age to 21

The Federal Government has been urged to drop the minimum age for automatic insurance cover inside superannuation

30 October

Insurance

Rice Warner points to PC misinterpretations

Actuarial research house Rice Warner has accused the Productivity Commission of misinterpreting its findings with

30 October

Insurance

Lawyers urge RC to inject more transparency into insurance

The Australian Lawyers Alliance wants the Royal Commission to inject more transparency into insurance within

2020-11-24 22:30:00

Knowledge Centre

Beyond the digital frontier

Secure, real-time data, insights and transactions accessible from anywhere are closer than you think – explore a...

Northern Trust

25 October

Insurance

FSC and insurers rebuffed on worker rehabilitation proposal

The Joint Parliamentary Committee on Corporations and Financial Services has rebuffed an FSC proposal to allow

25 October

Insurance

Life insurer claims data provision made mandatory

Life insurance companies are now under a legal obligation to provide consistent data on claims and disputes to the

National Australia Bank has launched a product which it claims will eliminate some of the pain points likely to be experienced by SMSF trustees as they seek to comply with new LRBA rules.

23 October

Insurance

Raiz in tailored approach with Swiss Re

Publicly-listed Raiz has entered an agreement with Swiss Re to move away from the one-size-fits-all approach to

National Australia Bank’s custody arm, NAB Asset Servicing has retained another key mandate – vertically integrated and publicly-listed Fiducian Group. The two companies confirmed this week that Fiducian had extended its custody relationship with NAB Asse

9 October

Insurance

MetLife wins Tasplan mandate

MetLife has secured the insurance mandate of Tasplan, following a tender process which will see the insurer

A move to real-time payment of superannuation guarantee (SG) contributions would go a long way towards addressing the problems being experienced with the system, according to accountancy body, CPA Australia. The organisation has used a submission to the S

4 October

Insurance

Retail insurance indexed cover cutting clients’ wealth

New research has shown that retail insurance cover customers could be “seriously damaging” their wealth through

4 October

Insurance

ClearView rules out ever returning to direct insurance

ClearView has told the Royal Commission it has no intention of returning to direct life/risk insurance and will

4 October

Insurance

AMP rebuts RC death claims

AMP Limited has sought to rebut claims made during the Royal Commission that it engaged in misconduct in its

The superannuation industry needs to end its infighting if it is to be taken seriously by Government, according to ASFA chairman, Michael Easson.

4 October

Insurance

Freedom suspends direct insurance

Freedom Insurance has suspended direct insurance sales with its managing director, Keith Cohen, leaving the

27 September

Insurance

RC canvasses ban on ‘associated’ group insurers

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has canvassed

27 September

Insurance

AMP faces pressure on corporate super

At least four of AMP’s corporate superannuation clients are in the process of reviewing their arrangements in the

27 September

Insurance

FSC backs ASIC call on breach response times

The Financial Services Council has called on financial institutions to improve their response time to incidents,

25 September

Insurance

Insurers on notice on inflicting psychiatric injury

Life/risk insurers have been placed on notice that the Royal Commission may recommend measures to hold them

25 September

Insurance

Cost of care could be “missing link” in life insurance advice

Individuals spent an astonishing $29.5 billion on health-related expenses in 2015-16, according to Zurich, and

20 September

Insurance

Group life stabilises

New data suggests that the group life market has finally stabilised after three years of premium repricing.

20 September

Insurance

Allianz investigating historic compliance issues

The Royal Commission has heard that Allianz is checking past compliance issues to see if they should have been

18 September

Insurance

AMP charged clients life insurance premiums post-death

The Royal Commission today heard that AMP failed to refund members’ estates for fees charged on life insurance

13 September

Insurance

CommInsure admits to misleading advertising

The Royal Commission has heard that CommInsure ran misleading and deceptive ads, with Commissioner Kenneth Hayne

13 September

Insurance

Cancer patient’s claim denied despite medical support: RC

The Royal Commission has heard that a CommInsure customer was denied a claim following breast cancer treatment,

LT Management has paid a $10,800 infringement notice penalty after the corporate regulator found it made potentially misleading statements about the cost of setting up a self-managed superannuation fund (SMSF) using the services of RS Capital Partners, tr

11 September

Insurance

RC points to flaws in insurance rules

The Royal Commission has pointed to flaws and inconsistencies in the regulatory environment around life insurance

The Australian Prudential Regulation Authority has downplayed suggestions of conflicts of interest in bonuses paid to superannuation funds by life insurers.

11 September

Insurance

RC hears of ClearView’s ‘random incentive days’

The Royal Commission has heard of the issues which gave rise to ClearView closing its Direct business including ‘

The Federal Government’s First Home Super Saver Scheme (FHSSS) is not consistent with the Superannuation Industry (Supervision) Act (SIS Act) sole purpose test, according to the Australian Institute of Superannuation Trustees (AIST). In its submission to

11 September

Insurance

Clearview details breaches of anti-hawking law

In a hearing littered by admissions of wrongdoing by Clearview, the Royal Commission has heard the insurer’s chief

4 September

Insurance

TAL and Suncorp finalise binding legal agreement

TAL’s agreement with Suncorp to acquire the latter’s Australian life insurance business is binding as of today,

Two-thirds of industry superannuation funds are not viable if $2 billion in funds is regarded as a minimum size, according to Rice Warner. In response to the Productivity Commission’s (PC’s) draft report on alternative default models and the recommendatio

30 August

Insurance

First Super’s returns suggest size doesn’t matter

First Super has declared that “small is beautiful”, as its growth option’s annual returns for the last financial

28 August

Insurance

TAL to waive premiums for drought affected farmers

TAL has announced that it will waive insurance premiums for drought affected farmers in New South Wales and

16 August

Insurance

Will CFS dump CommInsure as its group insurer?

Colonial First State retained CommInsure as its group insurer despite it performing poorly against a number of

Tender consultants have confirmed that a number of corporate and industry funds are conducting group life tenders at the same time as Comminsure has encountered adverse publicity.

14 August

Insurance

Five million impacted by ‘opt-in’ insurance changes

The Federal Treasury has confirmed that round five million superannuation fund members will be impacted by the

The rules around the provision of scaled advice should not be watered down just because the banks have difficulty in dealing with them, according to a submission by both Industry Super Australia (ISA) and the Australian Institute of Superannuation Trustee

14 August

Insurance

Only 6% of life policy holders advised into provider switch

New research from Roy Morgan has shown only 6.1 per cent of risk and life insurance policy holders looking to

9 August

Insurance

Suncorp offloads Australian life unit as cash earnings dip

The financial services group said it will sell its Australian life insurance arm to TAL Dai-ichi Life Australia

9 August

Insurance

ASIC sees weakness in super insurance code

The Australian Securities and Investments Commission has declared that the lack of compulsion around the insurance

31 July

Insurance

APRA backs longer insurance transition

The Australian Prudential Regulation Authority has backed industry calls for a longer transition period for the

26 July

Insurance

FSC to extend insurance code to super trustees

The Financial Services Council has announced two major initiatives to improve outcomes for life/risk consumers,

17 July

Insurance

Self-regulation not adequate for life insurers

Self-regulation would not be an adequate protection if life insurers were permitted to participate in worker

“LGS is one of the first super funds to be certified by RIAA’s new program. We will receive the RIAA responsible investor trade mark for our whole super fund, which endorses our long-standing commitment to superior environmental, social and governance (ES

12 July

Insurance

ISA warns Govt’s move ‘too broad’

Industry Super Australia has warned the Government’s move to make insurance inside superannuation “opt in” for

10 July

Insurance

Advised life beats group, claims ClearView

All group life insurance should be “opt-in” according to ClearView managing director, Simon Swanson, in

10 July

Insurance

ISWG was ‘ineffectual’ says law firm

Plaintiff law firm Maurice Blackburn has slammed the Insurance inside Superannuation Working Group as an ‘

The latest APRA data has confirmed that disability products are continue to challenge Australia’s insurers.

10 July

Insurance

Disability insurance products risk unsustainability: APRA

The Australian Prudential Regulation Authority has shown concern about poor disability income insurance, reporting

IOOF has agreed to enter into a transaction with ANZ to acquire its OnePath pensions and investments and aligned dealer groups (ADG) business for $975 million. ANZ said it would also enter into a 20-year strategic alliance to make available IOOF superannu

3 July

Insurance

CBA completes sale of NZ life insurance business

Commonwealth Bank has completed the sale of its life insurance business in New Zealand to AIA Group Limited.

26 June

Insurance

Budget could halve insurance inside super: KPMG

The change to default group insurance put forward by the Federal Budget could result in a 50 per cent reduction in

7 June

Insurance

APRA strengthens appointed actuary role within insurers

The prudential regulator has released a final package of measures to clarify and strengthen the role of the

5 June

Insurance

Keep TPD opt-out, says FPA

The Financial Planning Association has urged the Government to ensure that total and permanent disability

5 June

Insurance

FSC backs worker rehabilitation call with research

The Financial Services Council has backed calls for life insurer involvement in injured worker rehabilitation with

31 May

Insurance

ANZ OnePath launches new digital tools

ANZ OnePath has launched two new digital portals which offer super trustees and members real-time access to a

The accelerating pace of the shift from the accumulation to the retirement phase will take some fund trustees by surprise, Rice Warner believes.

24 May

Insurance

ASIC criticises limits on super insurance code

The Australian Securities and Investments Commission has pointed to the likely limited effectiveness of the

With growth assets generally struggling in September, median growth super funds recorded a fall of 1.1 per cent for the month, according to Morningstar.

24 May

Insurance

Markets drag on insurer profitability

The latest Australian Prudential Regulation Authority data has revealed how markets have dragged on insurer

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Andrew James McAlister

A much better name than MTAA, since its open for anyone. I like it.

Merged Tasplan and MTAA Super to be named Spirit Super 1 week 1 day ago

Sue

So, not as bad as the doomsayers were leading us to believe. Any chance of a public apology from...

Australian pension assets grow despite pandemic 1 week 4 days ago

Guy

So true - our people are our greatest asset. Just as our investors and members are. We need to...

Fund mergers highlight focus on people 3 weeks 1 day ago

Dave Peckitt

Hi do you have any info on financial planners in perth? I'm looking to consolidate my super...

Six superannuation consultancies prove stand outs 1 year 7 months ago

Anonymous

This is the most ill informed comment I have ever seen. Why on earth would you think Superannuation...

We aren’t anyone’s secretariat says AustralianSuper 7 months 1 day ago

Axl

That's 'toe the party line'.

We aren’t anyone’s secretariat says AustralianSuper 7 months 3 weeks ago