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Showing 1351 - 1360 of 3583 results for "Consumers"

Insurance shake-up puts clients first

KARREN VERGARA  |  TUESDAY, 2 OCT 2018
... she says, is the industry knows it needs to increase its standards and is prepared to collaborate in the interest of consumers by working on the next iteration of the code. This is an abstract of a story first published in the latest print issue of Financial ...

Zurich helps advisers quantify cost of care

KARREN VERGARA  |  MONDAY, 1 OCT 2018
... insurance to being engaged and committed to it, Visser said. Currently, financial literacy around insurance is low and consumers significantly underestimate the cost of care. This report brings together reliable sources of costs and insights into prevalence ...

FSU, FSC respond to interim report

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... culture of the financial services industry must be urgently transformed to ensure organisations put the best interests of consumers at the heart of what they do. "For consumers, interacting with banking and financial services is not voluntary. In a compulsory ...

Frydenberg slams financial sector greed

KARREN VERGARA  |  FRIDAY, 28 SEP 2018
... said it's evident the findings point to "greed" that's been pursued in return for short-term profits at the expense of consumers and the most basic standards of honesty. Frydenberg told a press conference that too often, financial institutions have focused ...

Advice industry in hot water

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... said. On the topic of vertical integration, Hayne said such a model promises the virtue of efficiency, passed on to consumers by way of lower costs and greater access to advice. However, this does not necessarily breed efficiency in consumer outcomes ...

NAB, MLC face class action

JAMIE WILLIAMSON  |  THURSDAY, 27 SEP 2018
... added. "In short they have taken advantage of people knowing that they can't cover them. NAB and MLC have been fleecing consumers of millions and it's only right that they pay it back," he said. Others that were wrongfully sold the cover include dependent ...

Royal Commission tables life insurance policy questions

KARREN VERGARA  |  THURSDAY, 27 SEP 2018
... risk products. The document, released yesterday, questions the adequacy of the current regulatory regime to protect consumers from detriment. For starters, Counsels Assisting Rowena Orr and Mark Costello asked if the sale of direct sale of insurance ...

ASIC slams unacceptable reporting breaches

KARREN VERGARA  |  WEDNESDAY, 26 SEP 2018
... significant breach. NAB was singled out for its systemic issues and accounted for the majority (76%) of the tardiness. Consumers consequently suffered financial losses to the tune of $500 million. Millions of dollars, ASIC said, is yet to be paid. CBA ...

AFA rejects criticism over grandfathered commissions

JAMIE WILLIAMSON  |  WEDNESDAY, 26 SEP 2018
... advertising campaign, saying it served to detrimentally impact consumer confidence in the overall superannuation system. "Consumers should rightly assume that their money in their superannuation account is safe. This advertisement clearly implied, in ...

CommInsure, TAL engaged in troubling conduct: Royal Commission

KARREN VERGARA  |  MONDAY, 24 SEP 2018
... services providers." Orr added external dispute resolution schemes like FOS are an important mechanism for redress for consumers in their dealings with insurance companies. "When insurance companies fail to be open, transparent, and responsive in their ...