Insurance

The Government needs to urgently review their proposed super policies as they are an issue for both higher net worth Aussies and middle Australians, Chartered Accountants believe.

13 October

Insurance

TAL urges health act review to assist TPD

TAL has urged the Government to review health act provisions to enable insurers to pay some of the medical and

A number of superannuation fund trustees and observers have blamed lawyer involvement for the increasing costs of delivering total and permanent disability insurance, but lawyer, Peter Koutsoukis argues the insurers should look to their own backyards.

13 October

Insurance

APRA urges scrutiny of insurance design and definitions

APRA has told group insurers to review insurance benefit design and definitions to ensure they better meet the

The TPD industry is set to change the way it approaches claims by focusing on how to help claimants in their time of need in a more relevant way, AIA believes.

13 October

Insurance

Declined TPD claims need to be addressed

It is vital to have a better understanding of the underlying drivers behind the variations in the claims handling

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

11 October

Insurance

Group insurers will adhere to new Code of Practice

Group insurers will adhere to the Financial Services Council’s new Life Insurance Code of Practice but super funds

11 October

Insurance

ASFA welcomes FSC Life Insurance code

While the life insurance sector in super has grown tremendously, there has not been a development of consumer

6 October

Insurance

Insurance part of super purpose

The Association of Superannuation Funds of Australia wants group insurance recognised as more than an auxiliary

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

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.

4 October

Insurance

Opt-in not a viable option for group

MLC tells Productivity Commission that opt-in does not represent a desirable option for group insurance.

27 September

Insurance

TAL wins NGS Super mandate at expense of CommInsure

NGS Super has selected TAL to handle its group insurance requirements, ending a 28-year relationship with

New MetLife/SwissRe white paper spotlights implications of changes to TPD definitions.

15 September

Insurance

Insurer stumbles on TPD definition

The Superannuation Complaints Tribunal has directed an insurer and a super fund to reassess a member’s TPD claim

15 September

Insurance

Default insurance offer often inadequate

The median default cover of super meets only about half of the basic death cover needs for households with no

NAB’s Andrew Hagger puts MLC Super creation in context of banking and wealth strategy.

13 September

Insurance

Hagger explains MLC Super rationale

NAB’s Andrew Hagger puts MLC Super creation in context of banking and wealth strategy.

13 September

Insurance

Group life continues growth

New Dexx&r data has revealed steady growth in the group life insurance market.

6 September

Insurance

Energy Super appoints MLC as income protection insurer

MLC Life Insurance has been appointed by Energy Super as the provider of its Group Salary Continuance Insurance.

16 August

Insurance

MetLife wins CareSuper mandate

CareSuper has replaced CommInsure with MetLife, following a group insurance tender process.

7 July

Insurance

FSC life insurance code of practice delayed

The FSC’s Life Insurance Code of Practice is set to release in October, three months later than its original

28 June

Insurance

Rebate commissions to build trust

Insurance advisers should give rebates on commissions when giving income protection advice as part of a greater

The Superannuation Complaints Tribunal has relied on policy keywords to uphold a decision denying a policeman’s TPD claim.

16 June

Insurance

SCT keyword clear on TPD

The Superannuation Complaints Tribunal has relied on policy keywords to uphold a decision denying a policeman’s

The Association of Superannuation Funds of Australia has pointed to the need for better definitions and greater flexibility around TPD.

14 June

Insurance

TPD still a super headache

The Association of Superannuation Funds of Australia has pointed to the need for better definitions and greater

9 June

Insurance

APRA data puts insurance in context

The latest APRA data has placed the importance of group insurance in context.

2 June

Insurance

Insurers overcome disability woes

New data from DEXX&R appears to confirm that insurers have overcome the problems with respect to disability

24 May

Insurance

Implications of insurance in super misleading

Only high net worth white collar super fund members’ balance would be affected by insurance within super,

A letter from both APRA and the ATO has spelled out the degree to which super funds will have increased interactions with the ATO via SuperStream mechanisms.

17 May

Insurance

When erroneous administrator e-mails don’t count

Superannuation fund members should rely on formal documentation from their funds rather than e-mails originating

The proposed reduction in concessional contributions could mean a hefty reduction in super member’s final account balance, according to DEXX&R.

12 May

Insurance

Insurance in super could be detrimental to balance

The proposed reduction in concessional contributions could mean a hefty reduction in super members' final

The final public hearing of a Senate Committee was warned that some new definitions implemented by super funds and their insurers are tending towards “junk”.

10 May

Insurance

Are some new insurance definitions ‘junk’?

The final public hearing of a Senate Committee was warned that some new definitions implemented by super funds and

5 May

Insurance

TPD sector more customer focused

The TPD industry is set to change the way it approaches claims by focusing on how to help claimants in their time

Research and ratings group, CANNEX points to recent group premium rises not being mirrored in the advised life/risk space.

3 May

Insurance

Insurance – one size does not fit all

New Rice Warner analysis points to the need for superannuation funds to rethink their insurance offerings to

26 April

Insurance

Insurance integral to super purpose

Rice Warner has emphasised why insurance should be an integral part of the objective of superannuation.

12 April

Insurance

Status and seniority ruled out in TPD claims

The Superannuation Complaints Tribunal has ruled out demotion in job status and seniority as being valid factors

17 March

Insurance

CommInsure withdraws from claims-handling panel

CommInsure has withdrawn from a conference panel on claims handling to put its own claims handling issues right.

17 March

Insurance

Industry funds and group insurance rebates

Rebates to superannuation funds are now being canvassed in the group insurance space.

10 March

Insurance

Will group life tenders be impacted by adverse publicity?

Tender consultants have confirmed that a number of corporate and industry funds are conducting group life tenders

12 January

Insurance

CommInsure wins Prime Super mandate

CommInsure has been selected by Prime Super to be its new group insurance provider, following a tender process.

18 December

Insurance

TAL retains EISS mandate

TAL retains EISS group insurance mandate in competitive selective process.

AIA and Sunsuper have streamlined and reduced the amount of paper work needed for a claim in a bid to addressing claim complexity.

1 December

Insurance

AIA and Sunsuper reduces claim complexity

AIA and Sunsuper have streamlined and reduced the amount of paperwork needed for a claim in a bid to addressing

26 November

Insurance

Fun needed for member engagement

To help super fund members understand the value and benefit of insurance, TAL has developed an animated calculator.

24 November

Insurance

MLC includes super products in premium cuts

MLC leverages Nippon Life transactions to cut premiums on super-related advised life/risk products.

19 November

Insurance

Disability insurance continues to drag

New September quarter Australian Prudential Regulation Authority data confirms that disability insurance continues

19 November

Insurance

MetLife adds data analytics to group offering

MetLife has developed a new data analytic product to help it move beyond simple group insurance.

12 November

Insurance

AusSuper extends early release payout for terminally ill

AustralianSuper public sector members are now eligible for early release of super and insurance payouts if they

The Australian Prudential Regulation Authority has urged more work by insurers and fund executives to sort out complex policy definitions.

3 November

Insurance

Policy definitions still too complex: APRA

The Australian Prudential Regulation Authority has urged more work by insurers and fund executives to sort out

3 November

Insurance

Sunsuper extends AIA partnership

Sunsuper has extended its AIA insurance partnership for another four years after market review.

3 November

Insurance

MLC to start new insurance rollover plan

MLC will introduce a new “insurance rollover offer” to external superannuation funds in a bid to strengthen its

15 October

Insurance

‘Reasonableness’ key to TPD definitions

New MetLife/SwissRe white paper spotlights implications of changes to Total and Permanent Disability definitions.

13 October

Insurance

TAL launches new group insurance tool

TAL has launched a digital offering for group insurance members to self-serve or engage with an expert.

1 October

Insurance

BT accommodates terminal illness changes

BT adjusts its life products to accommodate SIS changes to terminal illness release conditions.

24 September

Insurance

Aussies still uneducated on TPD insurance

Less than half of Aussies have heard of TPD insurance being offered through super funds, according to Slater and

22 September

Insurance

Policy redesign a key issue

Recent research suggests redesigning group life policies may be critical to helping premium sustainability.

New research confirms that the way income protection and TPD claims are handled are crucial to long-term outcomes.

17 September

Insurance

Claims handling key to group sustainability

New research confirms that the way income protection and TPD claims are handled are crucial to long-term outcomes.

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

3 September

Insurance

FSC to pursue legislative reform on supporting psychological claimants

Australia’s income protection insurers need to be empowered to provide greater support to claimants with

Australian insurers are worrying less about regulatory change and more about the threat of a cyber attack.

1 September

Insurance

Aussie insurers worried about cyber attacks

Australian insurers are worrying less about regulatory change and more about the threat of a cyber attack.

Market Insights

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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 3 days 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 5 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 3 days 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 3 days ago

Axl

That's 'toe the party line'.

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