Labor considers ban on insurance commissions

Well. Another of Labor's mavericks. Just wonder how far this one will go.

Chris Bowen is highly predictable and at it again like a cracked record.

Financial Standard reported that Chris Bowen told MEDIA at the AFA conference they were to be considering a ban on risk Insurance, but did he stand up in front of the delegates in his session and tell them his plans? I doubt it.

Good luck in opposition Chris Bowen.

By the way, you can't have an accurately "damning report" on an industry or profession when the sample size represented only 0.40% of the total number of Financial Planners and Advisers in Australia. In fact, you can't have a report on an industry or profession at all by only assessing 0.40% of the potential group.

Well, yet further posturing from the government-in-opposition. However, if the actual govermnent is serious about addressing under-insurance why doesn't it make life-risk insurance premiums across the board tax deductible - not just IP premiums?

Surely that can be worked out and represents a far more positive step towards reducing under-insurance than adviser-beating and looking at ways advisers are remunerated.

If ever using fee-for-service instead of commissions can be worked out in life-risk insurance where all stakeholders will be happy, the person putting that together should get the Nobel Prize for Ingenuity!

Chris Bowen, some questions. (1) Have you ever worked in the industry? (2) Have you considered looking at things in a practical and more professional way?

Carrying on like this is not taking responsibility and shows how uneducated you are regarding our industry.