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Showing 151 - 160 of 429 results for %22Life Insurance Customer Group%22

Raiz to launch group insurance products

KARREN VERGARA  |  TUESDAY, 23 OCT 2018
... disrupt the group insurance market. Raiz, the micro-investing platform, announced it is helping develop a tailored life insurance product within superannuation that eliminates the one-size-fits-all approach of many group insurance policies. The deal ...

AMP defends charging dead clients

HARRISON WORLEY  |  THURSDAY, 4 OCT 2018
AMP has defended its practice of charging premiums to dead life insurance customers in a submission to the financial services Royal Commission. The wealth manager continued to deduct life insurance premiums from a deceased customer, even after AMP has ...

Freedom drops chief, slashes workforce

KARREN VERGARA  |  WEDNESDAY, 3 OCT 2018
... the restructure aims to realign its business model to ASIC's comprehensive review and findings of the direct life insurance segment. ASIC found direct life insurers' sales practices were poor and the products offered little to no value. Freedom ...

AMP defaulted members as smokers: Royal Commission

KARREN VERGARA  |  MONDAY, 17 SEP 2018
... super fund but remaining with the super fund provider and moved to a different product. If the member has default life insurance cover, premiums charged would consequently change. Members fall into one of the following categories: non-smoker, delinked ...

CommInsure misled FOS: Royal Commission

KARREN VERGARA  |  THURSDAY, 13 SEP 2018
... process, the Royal Commission heard yesterday afternoon. Counsel assisting Rowena Orr turned her focus to CBA's life insurance subsidiaries CommInsure and Colonial Mutual Life Assurance (CMLA), with executive general manager Helen Troup representing ...

Life insurers admit to misconduct: Royal Commission

HARRISON WORLEY  |  MONDAY, 10 SEP 2018
This morning the Royal Commission heard about instances of misconduct in the life insurance industry and where conduct fell below community standards and expectations. Opening the sixth round of Royal Commission hearings, counsel assisting Rowena Orr ...

FSC responds to direct life insurance findings

KARREN VERGARA  |  FRIDAY, 31 AUG 2018
... insurers that led to poor consumers outcomes. In response to the report ASIC handed down yesterday, the FSC said its Life Insurance Code of Practice has "lifted the bar" in the industry but concedes "there is still room for improvement." The FSC rolled ...

Direct life insurance failing consumers: ASIC

KARREN VERGARA  |  THURSDAY, 30 AUG 2018
A comprehensive ASIC review of direct life insurance found sales practices and products that offer little to no value are leading to poor consumer outcomes. The practises of 11 life insurance providers selling direct-to-customers were examined and included ...

BT overhauls life cover limits and definitions

JAMIE WILLIAMSON  |  WEDNESDAY, 29 AUG 2018
... announced a raft of enhancements to its Protection Plans products, including updated medical definitions and increased life insurance cover for farmers and homemakers. Previously capped at $3 million, farmers will now be able to access up to $5 million ...

Life insurance sector strengthens

KARREN VERGARA  |  FRIDAY, 24 AUG 2018
The life insurance industry turned in a solid FY18, latest APRA statistics show. In the year to 30 June 2018, life insurers' total revenue stood at $37.6 billion, up 11.5% higher than the previous corresponding period. This was driven by net policy ...