insurance claims

News

Cbus Super, the superannuation fund for blue-collar workers, has announced it paid out almost $300m in insurance claims over the last financial year, a rise of $40m from ...

Policy & Regulation

FSC argues for exclusion of ‘experts’ from new claims-handling rules

Accountants, doctors and other should be excluded from the coverage of claims handling as a financial service and insurers should be allowed to continue giving ‘factual s...

Life/Risk

Insurers and claim-related parties may look to merge under one AFSL

Legislation surrounding the regulation of claims handling may have insurers and related parties look to fall under a single Australian Financial Services License to ease ...

Life/Risk

MLC Life Insurance backdates definition update

A major insurer has backdated an update of two of its outdated medical definitions, meaning consumers who had their claim rejected previously may be able to get a new dec...

Policy & Regulation

Industry funds urge no carve-outs for claims handling

Industry funds body, the Australian Institute of Superannuation Trustees has urged that insurance claims handling be subject to the financial advice rules – something whi...

Policy & Regulation

Exclude advice obligations from insurance claims – ASFA

Insurance claims handling should not be encumbered by the same obligations as financial advice because it would risk making it unaffordable to super fund members, accordi...

Policy & Regulation

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 Australian Prudential Regulation Authority and the Aust...

Life/Risk

Remove claims handling exemption under law

ASIC has once again called for the exemption removal of insurance claims handling from the Corporations Law after CommInsure was cleared of any wrongdoing as per the law....

Life/Risk

CommInsure appoints Deloitte as independent expert

CommInsure has appointed Deloitte to review past life insurance declined claims, while DLA Piper will examine ethical issues and policy definitions, medical file and reco...