Insurers

Policy & Regulation

Zurich has joined other insurers trying to capitalise on the current wellness trend by launching a health-tracking app that it hopes one third of new clients will use....

Life/Risk

Retail insurance laws to require greater diligence from sellers

While the new design and distribution obligations for retail insurance products will impact insurers more, sellers of retail insurance products will still see some new re...

Superannuation

Lawyers call for standardised group life policy terms

The standardisation of group insurance terms and conditions could help achieve some of the Banking Royal Commission’s recommendations, a leading insurance law firm has sa...

Life/Risk

New insurance standards to come at a cost to policyholders: report

Shifting community standards and expectations are driving eight new trends in life insurance which may cost policyholders over $1 billion, according to a new report....

Policy & Regulation

ALA calls for reform against insurers unfairly denying claims

Urgent reform is needed to prevent insurers unfairly denying claims, according to the Australian Lawyers Alliance. ...

Life/Risk

FSC proposal described as Trojan horse

Plaintiff law firm, Maurice Blackburn has labelled the Financial Services Council’s failed bid to have life/risk insurers allowed involvement in worker rehabilitation as ...

Life/Risk

AIA calls for life insurers to fund mental health treatment

AIA Australia and New Zealand has called for reforms to life insurance legislation to allow insurers to fund early intervention and treatment for mental health conditions...

Financial planning

Have shelf space fees become ‘training fees’?

A senior parliamentarian has quizzed the Australian Securities and Investments Commission on whether insurers have simply converted the payment of shelf space fees to ‘tr...

Financial planning

Kell accuses advisers, insurers of blame-shifting

The Australian Securities and Investments Commission deputy chairman, Peter Kell has accused insurers, advisers and others in the life/risk industry of blame-shifting and...

Superannuation

O’Dwyer questions profit-sharing between super funds and insurers

The Minister for Revenue and Financial Services, Kelly O’Dwyer has directly questioned the validity of profit-sharing arrangements between insurers and major superannuati...

Policy & Regulation

Insurers now need to pull their weight on LIF says AFA

The Association of Financial Advisers has acknowledged passage of the LIF legislation and says it is now time for insurers, super funds and ASIC to pull their weight on r...

Life/Risk

Insurers themselves contribute to perceptions of churn

The Financial Planning Association says competition between life insurers themselves cannot be ignored as a contributor to consumers making policy changes....

Life/Risk

Blame the insurers not the advisers says AIOFP

Parliamentarians need to understand that the major life insurers, not advisers, set and control the dynamics of the life insurance industry, according to the AIOFP....

Life/Risk

Advisers expect insurers to grow direct life/risk sales

New survey data collected by Money Management reveals that advisers expect insurers to grow their direct sales — something that will lead to a decline in adviser numbers....