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Showing 11 - 20 of 56 results for "Direct life insurance"

ASIC bans direct life cold calling

HARRISON WORLEY  |  WEDNESDAY, 4 DEC 2019
The use of cold calling to sell direct life insurance will be prohibited in the New Year.. ASIC will ban unsolicited cold calling in life and consumer credit insurance sales from January 13 next year, following a period of consultation with industry ...

CommInsure enters guilty plea

ELIZA BAVIN  |  TUESDAY, 19 NOV 2019
... is facing up to $1.8 million in penalties. No sentencing date has been set. ASIC's review of the sale of direct life insurance was launched in 2018, with the regulator finding that outbound telephone sales were more commonly associated with poor sales ...

Ban unsolicited life insurance sales: Poll

KARREN VERGARA  |  MONDAY, 29 JUL 2019
... sales issues and evidence of consumer harm. It has taken action against a number of firms that have missold direct life insurance and CCI. ClearView has refunded over $1.5 million to 16,000 customers who were pressured to buy life insurance over the ...

ASIC moves to ban direct life cold calling

HARRISON WORLEY  |  THURSDAY, 18 JUL 2019
... its recent report into the design and sale of consumer credit insurance and its scathing 2018 report of direct life insurance. As part of its comments on the direct life report, ASIC said it intended to restrict outbound sales of life and funeral insurance ...

ASIC slams consumer credit failures

HARRISON WORLEY  |  FRIDAY, 12 JUL 2019
... the phone. The practice has come under scrutiny recently, after the Royal Commission and ASIC's review of direct life insurance revealed issues emanating from the outbound sale of life insurance. ASIC said it expected lenders and insurers to design and ...

Harder for insurers to dodge claims

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... products to be prohibited, just like for superannuation products. In September, ClearView admitted it's direct life insurance business had breached the anti-hawking law more than 300,000 times, at the RC public hearings. Stronger codes of practices ...

FSC extends life code consultation deadline

KARREN VERGARA  |  THURSDAY, 24 JAN 2019
... now in the process of being covered by the code. This included the coercive sale of funeral insurance and direct life insurance ; and a life insurer going to great lengths to deny a claim from a policyholder with mental health issues. FSC chief executive ...

Ten stories that defined the Royal Commission

HARRISON WORLEY  |  WEDNESDAY, 19 DEC 2018
... ClearView breached anti-hawking law 300k times Days earlier, the Royal Commission heard ClearView's direct life insurance business breached anti-hawking provisions up to 303,000 times - a significant increase from the 278,664 originally reported ...

TAL slashes jobs, cuts outbound sales

JAMIE WILLIAMSON  |  FRIDAY, 19 OCT 2018
At least 50 staff members at TAL have been made redundant as part of a wider move to scale back its direct life insurance business. TAL said an ongoing program of change has been underway for some time and has so far resulted in reduced staffing requirements ...

NobleOak wins best direct life insurer award

KARREN VERGARA  |  FRIDAY, 19 OCT 2018
... has recognised NobleOak as the best direct life insurer in 2018. Strategic Insight presented its annual Direct Life Insurance Awards at the Museum of Contemporary Art in Sydney on Thursday. In addition to scoring the Overall Direct Life Insurance Excellence ...