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Showing 151 - 160 of 1213 results for "Insurers"

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 ...

MLC Life names general manager, remediation

JAMIE WILLIAMSON  |  MONDAY, 11 DEC 2023
... outcomes." Commenting on his appointment, Fletcher said: "MLC Life Insurance is one of Australia's leading and most trusted insurers, and I'm excited to continue that tradition and to review and revise the processes and systems needed to deliver an even ...

APRA flags premium volatility in superannuation group life insurance

ANDREW MCKEAN  |  FRIDAY, 8 DEC 2023
... notably premium volatility and data availability. At the end of 2022, APRA conducted a survey involving RSE licensees, life insurers, and reinsurers, assessing industry responses to the sustainability challenges in group life insurance in superannuation. ...

A third of Aussies want life insurance advice: Research

CHLOE WALKER  |  THURSDAY, 7 DEC 2023
New research commissioned by the Council of Australian Life Insurers (CALI) shows the number of people receiving professional life insurance advice remains low, despite a third showing interest. The survey polled over 1000 Australian workers aged between ...

Final QAR reforms open door to super funds

CASSANDRA BALDINI  |  THURSDAY, 7 DEC 2023
... proposal, saying: "Conflicts of interest remain real in any financial advice model which is provided by banks, super funds or insurers. What we don't want is product sales dressed up as 'advice'. We look forward to participating in future ...

Treasury mulls reforming use of genetic test results by life insurers

JAMIE WILLIAMSON  |  MONDAY, 27 NOV 2023
... the existing moratorium is ineffective, negatively impacting medical research efforts, and a lack of compliance from insurers. The government's consultation paper, Use of genetic testing results in life insurance underwriting, is aimed at addressing ...

Insurers drop allocation to risk assets: Research

CASSANDRA BALDINI  |  MONDAY, 13 NOV 2023
Over 80% of insurers are adopting a cautious investment approach, signalling their intent to decrease exposure to risk in the coming six months. Janus Henderson, in collaboration with Investment Trends, released its 2023 Insurance Asset Management Report ...

Life insurance complaints drop 24%

KARREN VERGARA  |  WEDNESDAY, 25 OCT 2023
... have declined 24% in the 2023 financial year, but policyholders continue to complain about claims-handling delays and insurers peddling misleading information. According to the Australian Financial Complaints Authority (AFCA), the total number of complaints ...

Super fund, insurer admin issues draw AFCA complaints

KARREN VERGARA  |  MONDAY, 23 OCT 2023
Life insurers and superannuation funds continue to pin systemic issues on administrative and legacy systems that have drawn customer complaints and, in some cases, led to large compensation payouts, according to the Australian Financial Complaints Authority ...

Mass-affluent population key to insurer sustainability: Report

JAMIE WILLIAMSON  |  FRIDAY, 20 OCT 2023
The world's 40 largest life insurers face huge sustainability challenges, as a new report shows they will see close to $13 trillion in outflows between now and 2040. Capgemini's World Life Insurance Report 2023 shows policyholders aged 65 and ...