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Showing 1 - 10 of 287 results for "general insurance"

Tranche one of advice reforms hits parliament

KARREN VERGARA  |  WEDNESDAY, 27 MAR 2024
... to state that a person who provides personal advice to a retail client about a life risk insurance product, general insurance product or consumer credit insurance and receives a commission in connection with the issue or sale of that product must obtain ...

AFCA secures $40m in refunds

ELIZA BAVIN  |  THURSDAY, 14 MAR 2024
... banking and finance sector saw the largest number of reports at 28, followed by superannuation with 11 reports, general insurance with six reports, investments and advice with three reports and life insurance with one. In superannuation, the issues included ...

AFCA amends consumer compensation caps

KARREN VERGARA  |  TUESDAY, 9 JAN 2024
... consumers or small businesses who make a complaint about products or services relating to banking and finance, general insurance, life insurance, and investments and advice. The limits, however, do not apply to superannuation complaints. For income streams ...

ASIC renews leadership team

CHLOE WALKER  |  FRIDAY, 18 AUG 2023
... leader, markets infrastructure Nathan Bourne has been promoted to senior executive leader, credit, banking, and general insurance. In his new role, Bourne will assume responsibility for the day-to-day supervision of regulated entities within the credit ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... dispute disappeared," Singh said. On a brighter note, life insurance complaints trended down 24% to 1898, while general insurance complaints skyrocketed 50% to 27,924. From the total 96,987 complaints AFCA registered in FY23, the impact of the cost-of-living ...

Insurance firms defy inflationary shocks

KARREN VERGARA  |  WEDNESDAY, 26 JUL 2023
Life and general insurance companies are withstanding the shocks of inflation as investors look to the sector as a shield from wider economic uncertainties. Financial advice firms that specialise in life insurance are experiencing solid demand from ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... ASIC investigates an individual suspected of providing unlicensed personal financial advice but also advises on general insurance products based on time spent by staff of 30% versus 70% respectively, the same cost-recovery ratio will apply to the relevant ...

Zurich fills newly created executive role

ANDREW MCKEAN  |  TUESDAY, 13 JUN 2023
... enterprise-wide responsibilities for all claims teams and functions across Zurich's Retail Life, Group Life, and General Insurance business segments. He will report directly to Zurich chief executive Justin Delaney. Paterson has over 20 years' industry ...

Treasury proposes upping supervisory levies

ANDREW MCKEAN  |  FRIDAY, 26 MAY 2023
... disability income insurance and improving decision-making through data support. In contrast, levy funding for general insurance dropped from $30.2 million to $29.5 million. The industry faces challenges such as natural disasters, rising reinsurance costs ...

AFCA tallies up COVID-19 complaints

JAMIE WILLIAMSON  |  FRIDAY, 12 MAY 2023
... investments (3%), and 154 were over life insurance (0.9%). The bulk of complaints were in relation to credit (48%) and general insurance (30%). By products, 1134 complaints related to superannuation. Looking at the reason for the complaints lodged during ...
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