life insurance

Life/Risk

Retail insurance indexed cover cutting clients’ wealth

New research has shown that retail insurance cover customers could be “seriously damaging” their wealth through inappropriate indexation of premium costs....

Life/Risk

AMP faces pressure on corporate super

At least four of AMP’s corporate superannuation clients are in the process of reviewing their arrangements in the wake of successive rounds of hearings before the Royal C...

Life/Risk

Insurers on notice on inflicting psychiatric injury

Life/risk insurers have been placed on notice that the Royal Commission may recommend measures to hold them responsible for psychiatric injury inflicted on clients by cla...

Life/Risk

Cost of care could be “missing link” in life insurance advice

Individuals spent an astonishing $29.5 billion on health-related expenses in 2015-16, according to Zurich, and helping clients better understand the risk of illness could...

Life/Risk

Life insurers increasingly reliant on advisers

New data points to life insurers becoming increasingly reliant on advisers as the major banks exit life insurance products....

Life/Risk

Disclosure docs don’t help people choose better insurance

New research has found that government-mandated insurance disclosure doesn’t help people make better purchasing decisions when it comes to insurance....

Life/Risk

TAL added to mentally ill insured’s stress: RC

The Royal Commission has heard that TAL’s treatment of an insured not only denied the mentally ill customer assistance at various points of her claim, but also actively c...

Life/Risk

Did TAL incentivise managers to deny claims?

TAL has today faced rigorous questioning by the Royal Commission as to whether case managers and senior staff were incentivised to deny claims as quickly as possible....

Life/Risk

RC finds TAL went on “fishing expeditions” to protect bottom line

The Royal Commission has heard of TAL’s invasive investigation methods for the purpose of avoiding the approval of income protection policies on the basis of non-disclosu...

Life/Risk

TAL faces RC scrutiny on direct life sales

TAL will today join ClearView and Freedom in being scrutinised by the Royal Commission on the failings of direct life/risk sales business....

Life/Risk

Freedom ends sales practice right before RC appearance

Freedom ended dubious sales practices for four insurance products just days before appearing before the Royal Commission, then failed to disclose this information to the ...

Life/Risk

RC hears from victim of dubious sales call

With insurance sales practices proving a focus of the Royal Commission’s current hearings, the Commission has heard of how Freedom sold a disabled man funeral insurance a...

Life/Risk

RC points to flaws in insurance rules

The Royal Commission has pointed to flaws and inconsistencies in the regulatory environment around life insurance, including that there is no penalty capable of being imp...

Life/Risk

Clearview details breaches of anti-hawking law

In a hearing littered by admissions of wrongdoing by Clearview, the Royal Commission has heard the insurer’s chief risk officer, Gregory Martin, detail how the firm breac...

Life/Risk

FSC supports ASIC’s life insurance sales review

The Financial Services Council has welcomed a regulator’s positive review on the role of the FSC Life Insurance Code of Practice in the sale of direct life insurance, whi...