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Showing 51 - 60 of 1079 results for "Insurers"

Treasury mandates APRA consider climate risks in duties

RACHEL ALEMBAKIS  |  FRIDAY, 9 JUN 2023
... statement of expectations for APRA which includes the adoption of climate reporting standards by super funds, banks and insurers. "For the first time, the government is explicit in requiring the regulator to consider risks related to climate change as ...

APRA finalises rules for financial crisis readiness

ANDREW MCKEAN  |  FRIDAY, 19 MAY 2023
Finalising new prudential standards, APRA is aiming to bolster banks, insurers, and superannuation trustees' resilience against future financial crises. APRA hopes the new standards will equip these financial entities with strategies to counteract threats ...

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON  |  FRIDAY, 19 MAY 2023
... customers deserve to have their insurance policies administered properly. "ASIC will continue to take action against insurers who aren't acting in accordance with their duty of utmost good faith towards their customers."

HCF Life under ASIC surveillance

CASSANDRA BALDINI  |  FRIDAY, 12 MAY 2023
... the customer was not aware of the pre-existing condition. ASIC reinforced: "s47 of the Insurance Contacts Act prevents insurers from excluding coverage for non-disclosure of a pre-existing condition where the customer was unaware of the condition when ...

Adopt QAR recommendations now: Levy

CASSANDRA BALDINI  |  TUESDAY, 2 MAY 2023
... apparent weight given to their views." She believes that consumer groups picked such a response due to views that banks, insurers and superannuation funds will have more freedom to provide financial advice. "They think that is a bad thing - indeed, based ...

TAL, AIA dominate group life market

ANDREW MCKEAN  |  WEDNESDAY, 19 APR 2023
... annual premiums of $606.6 million. The total sum insured under AIA's policies amounts to $495 billion. Other notable insurers in the group super market include MetLife, with a 12.1% share, MLC at 6.6%, QInsure with 4.8%, and Zurich at 4.4%. The data ...

Brighter Super forges ahead with SFT

KARREN VERGARA  |  MONDAY, 17 APR 2023
... 100 SPSL staff will move to Brighter Super, joining the current 200 workforce. It also announced it will change group insurers effective July 1, replacing TAL with Zurich Financial Services.

APRA defers CPS 230 introduction

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
... Outsourcing (CPS 231) and Prudential Standard CPS 232 Business Continuity Management (CPS 232) that apply to ADIs, life insurers and general insurers, the equivalent superannuation standards Prudential Standard SPS 231 Outsourcing (SPS 231) and Prudential ...

APRA investigates NobleOak capital adequacy breach

KARREN VERGARA  |  FRIDAY, 31 MAR 2023
... policyholders. It is not connected to any recent financial market movements or developments," APRA said. LPS 117 forces life insurers to maintain adequate capital against the asset concentration risks associated with their activities. The Asset Concentration ...

Australian investors pivot portfolios

CASSANDRA BALDINI  |  THURSDAY, 23 MAR 2023
... 79% planning to increase allocations to private markets over the next five years. This number is even higher for APAC insurers, 90% of whom have indicated plans to increase allocations to the private markets. Compared with recent years, the report explained ...