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LIFE/RISK
INDUSTRY NEWS
Despite some improvements in risk product profits, group lump sum and group disability income insurance made losses over the year to September. ...
INDUSTRY NEWS
While only making up 2% of total complaints received by the Australian Financial Complaints Authority, life insurance complaint handling time has almost doubled in two ye...
INDUSTRY NEWS
The corporate regulator alleges MLC Life Insurance, in some instances, failed to pay life insurance benefits, notify on premium rises or refund premiums, amongst other br...
INDUSTRY NEWS
Life insurers which use blanket exclusions on the basis of mental health should be subject to a regulatory review as they could deter people from seeking treatment. ...
INDUSTRY NEWS
AMP will close its involvement in life insurance in Australia and New Zealand with the divestment of its equity interest in Resolution Life Australasia for $524 million....
INDUSTRY NEWS
The claim admittance rate for advice individuals for disability income insurance was at 95% compared to 89% for non-advised clients, according to data from the prudential...
INDUSTRY NEWS
Total and permanent disability products are next on the list for insurers to look at to ensure they do not become unsustainable like income protection....
INDUSTRY NEWS
Disability income product clients are choosing to hang on to existing policies at a higher rate than previously, according to DEXX&R....
INDUSTRY NEWS
With risk advisers leaving in droves DEXX&R believes there is opportunity for life insurers to set up their own dealer groups as long as they have an open approved produc...
INDUSTRY NEWS
Financial Services Council superannuation and life insurance members will be prohibited from the use of exclusions and restrictive disability definitions because a super ...
INDUSTRY NEWS
Income protection complaints accounted for the most complaints in regards to life insurance during FY2020-21, especially when it came to the calculation of benefits for b...
INDUSTRY NEWS
Risk advisers need to ensure their clients know that level premiums are not a guarantee and what to expect when their first-year discounts expire, according to life insur...
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So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...