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Showing 121 - 130 of 212 results for %22Life Insurance Framework%22

ASIC approves world-first fintech exemptions

ALEX BURKE  |  THURSDAY, 15 DEC 2016
... its FSI commitments on technology neutral regulation for the financial sector and facilitating rationalisation of life insurance and managed investment scheme legacy products."

Life insurance legacy faces more scrutiny

DARREN SNYDER  |  THURSDAY, 1 DEC 2016
Australia's life insurance regulator is renewing calls to rationalise legacy products that have plagued the industry with poor consumer outcomes and operational complexities. APRA member Geoff Summerhayes told a parliamentary inquiry on the life insurance ...

APRA marks New Year priorities

JAMIE WILLIAMSON  |  TUESDAY, 1 NOV 2016
... APRA chairman Wayne Byres said. The report highlights that, despite mixed experiences across group insurance, the life insurance industry is well capitalised, with marked improvement in its resilience to market volatility. Meanwhile, APRA said that its ...

Challenger reveals key annuity relationships

KERRIE SYDEE  |  THURSDAY, 27 OCT 2016
... through AMP's investment and administration platforms and will also be available through Mitsui Sumitomo Primary Life Insurance Company (MS Private) - a provider of Australian dollar annuity and life insurance products in Japan. Scheduled to launch in ...

Cooper defends BT life insurance figures

ALEX BURKE  |  MONDAY, 17 OCT 2016
BT Financial Group chief executive Brad Cooper has defended BT's life insurance arm after it was revealed the 37% TPD denial rate highlighted in ASIC's industry review came from his company. Last week, ASIC came out with its review of life insurance ...

ASIC finds life claim rates wildly inconsistent

ALEX BURKE  |  WEDNESDAY, 12 OCT 2016
... insurers, with TPD denial rates as high as 37% in one instance. The regulator has issued its industry review of life insurance claims, and found that while the majority (90%) of claims are paid in the first instance - $8.2 billion was paid out by the ...

Dunsford explains backpedal at EGM

JAMIE WILLIAMSON  |  TUESDAY, 11 OCT 2016
... were more concerned and resistant to changing the constitution than they were about the flaws in the Life Insurance Framework (LIF)." Dunsford believes that the LICG was successful in contributing to the federal government's decision to delay the implementation ...

Life Insurance Code targets self-regulation

MARK SMITH  |  TUESDAY, 11 OCT 2016
... and customer service, which are expected to be reintroduced to parliament this week in the form of the Life Insurance Framework. Speaking at the launch of the Code of Practice Trowbridge said: "This is the first time the industry has had an industry-wide ...

LIF to be introduced this week

MARK SMITH  |  MONDAY, 10 OCT 2016
The legislation for the Life Insurance Framework will be formally introduced into parliament this week, the Minister for Revenue and Financial Services Kelly O'Dwyer has confirmed. Responding to questions from industry journalists at the AFA National ...

Industry bodies united on group insurance

JAMIE WILLIAMSON  |  MONDAY, 10 OCT 2016
On the eve of the Financial Services Council publishing its Life Insurance Code of Practice, industry bodies have collectively reinforced their beliefs on the purpose of group insurance in superannuation. The Association of Superannuation Funds of Australia ...