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Showing 131 - 140 of 9381 results for "LIF"

AFCA amends consumer compensation caps

KARREN VERGARA  |  TUESDAY, 9 JAN 2024
The Australian Financial Complaints Authority (AFCA) has revised the maximum amount consumers can claim for compensation. As of 1 January 2024, the maximum compensation amount a complainant can apply for is $1.263 million, which was previously $1.085 ...

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN  |  MONDAY, 8 JAN 2024
Zurich Australia has been cleared of breaching its duty of utmost good faith by the Federal Court, in a case connected to OnePath Life's avoidance of an income protection policy. The case marks ASIC's first attempt to impose a civil penalty under s13 ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
Once again, Financial Standard readers were captivated by the evolving superannuation landscape, with this year's top stories largely focused on this space. However, there was one particular executive move that simply couldn't be scrolled past. ...

ASIC, APRA slam premium hikes

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
Life insurers are underhandedly hiking premiums in a way that is misleading and fails to explain why they are rising, according to APRA and ASIC, warning that they will take regulatory action if practices do not improve. The regulators have reprimanded ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
While there are good indications that Melissa Caddick's victims will recoup most of their funds, the lawyer spearheading the latest class action believes that SMSF clients should get all their money back. Michael Chapman, a director at Melbourne-based ...

Agricultural sector in for a mixed 2024: Outlook

JAMIE WILLIAMSON  |  WEDNESDAY, 13 DEC 2023
It seems the challenges faced by the agricultural sector this year are likely to continue into 2024 as farmers grapple economic headwinds and lower commodity prices, however the second half is tipped to prove more fruitful. Trade conditions have improved ...

Impact of debt on retiree confidence a mixed bag

CHLOE WALKER  |  TUESDAY, 12 DEC 2023
One in nine Australians expect to have more than $250,000 in debt when they retire, a new study by AMP shows, however separate research from TAL suggests debt in retirement is of little concern. A study commissioned by AMP has found that fewer than ...

Federal Court approves BT Super $30m settlement

KARREN VERGARA  |  TUESDAY, 12 DEC 2023
The Federal Court approved the $29.95 million class action settlement against Westpac after subsidiaries BT Funds Management (BTFM) and Westpac Life Insurance Services (WLIS) allegedly failed to manage conflicts of interest when investing BT Super member ...

FSCP serves up registration prohibition order

KARREN VERGARA  |  MONDAY, 11 DEC 2023
The Financial Services and Credit Panel (FSCP) has slapped a financial adviser with a "registration prohibition order" for being insolvent under administration. Timothy Leslie Anderson's registration as a relevant provider has been revoked from ...

MLC Life names general manager, remediation

JAMIE WILLIAMSON  |  MONDAY, 11 DEC 2023
MLC Life has hired the man who led Commonwealth Bank's recent $1 billion remediation program to the role of general manager, remediation programs. Ian Fletcher, currently general manager of program strategy, customer remediation at Commonwealth Bank ...