HCF Life fined $750k for misleading contract termBY KARREN VERGARA | FRIDAY, 9 MAY 2025 12:26PMHCF Life Insurance has been fined $750,000 by the Federal Court for misleading the public about a pre-existing condition term under its Recover products. Related News |
Editor's Choice
Apex Group head of super to depart
|Apex Group managing director for superannuation will leave his post in September, joining its technology partner in a C-suite capacity.
Morningstar predicts platforms to pull Centuria Bass Credit Fund
|Amid a ratings downgrade and possible governance issues concerning the Centuria Bass Credit Fund (CBCF), Morningstar predicts the property debt fund will be pulled from major investment platforms and unlikely receive new inflows.
ETF Shares cuts fees on US technology ETF
|ETF Shares has reduced the management fee on its ETFS US Technology ETF (ASX:WWWW) positioning the fund as one of the lowest-cost options for Australian investors seeking exposure to leading US technology companies through the ASX.
AustralianSuper appoints co-heads of Australian equities
|AustralianSuper has appointed Andrew Smith and Luke Smith as co-heads of Australian equities, effective immediately.
Videos
Brought to you by ![]()
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Hugh Killen
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
For Hugh Killen, several life lessons came from spending time on pastoral properties stretching across northern New South Wales and South-West Queensland.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
The exclusion for unknown pre-existing conditions has been in contravention of the insurance contracts act for more than 35 years. The fact that a clause of this nature was applied to a life insurance policy should have resulted in a far more significant fine.