Search ResultsShowing 1 - 10 of 15 results for "Insurance in Superannuation Voluntary Code of Practice"
PC calls for group insurance review
KARREN VERGARA  |  FRIDAY, 11 JAN 2019
The Productivity Commission is calling for an independent public inquiry into group insurance and floated the possibility of tougher regulation that includes sharper ASIC oversight, among other recommendations. Recommendation 18 in the Productivity ...
Productivity Commission shakes up default superannuation
KARREN VERGARA  |  THURSDAY, 10 JAN 2019
The Productivity Commission reinforced several recommendations flagged in mid-2018 in a bid to modernise the $2.7 trillion industry, which included shaking up the default sector. The Commission handed down 31 recommendations in its final report in ...
Royal Commission tables life insurance policy questions
KARREN VERGARA  |  THURSDAY, 27 SEP 2018
Numerous policy questions that arose from the life insurance round of the Royal Commission could shake up the direct life insurance segment and potentially ban conflicted remuneration in risk products. The document, released yesterday, questions ...
Insurance in super code weak: ASIC
KARREN VERGARA  |  MONDAY, 10 SEP 2018
ASIC's latest review into insurance in superannuation shows the industry still has "significant weaknesses" despite the launch of the voluntary code of practice nine months ago. Over 2017-18, ASIC reviewed 47 superannuation trustees, which included ...
FSC aggregates insurance industry data
KANIKA SOOD  |  THURSDAY, 26 JUL 2018
The Financial Services Council is launching a multi-million-dollar data project that will aggregate and distribute life insurance industry data. FSC chief executive Sally Loane announced the project's delivery in Melbourne today, the ...
Industry fund begins lifecycle pension strategy
HARRISON WORLEY  |  TUESDAY, 24 APR 2018
A $1.5 billion industry superannuation fund has added a dual-account lifecycle strategy to its pension offering. New pension members of REI Super now have a default lifecycle investment option which applies different investment mixes based on age. ...
Industry fund signs on to insurance code
HARRISON WORLEY  |  THURSDAY, 19 APR 2018
A super fund with more than $1.5 billion in assets under management has adopted the Insurance in Superannuation Voluntary Code of Practice. REI Super is the latest fund to adopt the voluntary code, with implementation of the code set to begin on 1 ...
Lawyers slam life insurers in Royal Commission
KARREN VERGARA  |  FRIDAY, 6 APR 2018
The life insurance industry is failing to prove it can self-regulate via its two "deficient" codes, according to Maurice Blackburn Lawyers' submission to the banking Royal Commission. There have been more than 700 breaches of the Life Insurance ...
Super fund redesigns insurance offering
HARRISON WORLEY  |  WEDNESDAY, 4 APR 2018
An $8 billion superannuation fund has opened a tender for its new life insurance offering, one which aims to comply with the Insurance in Superannuation Voluntary Code of Practice well ahead of the 2021 deadline. Tasplan chief operations officer ...
Merged super funds save $30m for members
KARREN VERGARA  |  WEDNESDAY, 4 APR 2018
Members of two newly-merged industry funds are due to reap cost savings of $30 million per year once the transition finalises on May 12. Sunsuper and Kinetic Super announced in April 2017 the consolidation will result in a single fund with more ...
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