What is the future of the life/risk industry?
With controversy still surrounding the future of the life/risk sector in Australia and particularly the impact of the Life Insurance Framework, Money Management is conducting a survey aimed at gauging industry views on the state of the industry and its future outlook.
The results of the survey will be presented to a Money Management policy breakfast to be held in late October allied to the presentation of the annual Adviser Choice Risk Awards conducted in association with Dexx&R.
Please take the time to complete the survey by clicking here.
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Policy and advocacy specialist Benjamin Marshan has left the Council of Australian Life Insurers after less than a year, having joined in March from the Financial Planning Association of Australia.
The declining volume of risk advisers meant KPMG has found a rising lapse rate for insurance policies arranged by independent financial advisers, particularly in the TPD and death cover space.
The Life Insurance Code of Practice has transferred from the Financial Services Council to the Council of Australian Life Insurers.
The firm has announced it will no longer be writing new life insurance policies in the retail advised and corporate group insurance channels, citing a declining market and risk adviser numbers.
