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Showing 11 - 20 of 96 results for "Claimants"

Rest details internal program to reform death benefit processes

ANDREW MCKEAN  |  FRIDAY, 2 MAY 2025
... introduced a fast-track process for low-balance claims, improved its forms and requirements, and increased follow-ups with claimants alongside targeted interventions to keep claims moving, the spokesperson said. "We've made significant improvements ...

Not one trustee tracked end-to-end claims handling times: ASIC

ANDREW MCKEAN  |  MONDAY, 31 MAR 2025
... dismissed queries, while 78% were delayed due to processing issues within the trustees' control. Additionally, 17% of claimants were identified as experiencing vulnerability, and a third of those cases were "handled poorly." The disparity in claims closed ...

AustralianSuper sued over death benefit delays

JAMIE WILLIAMSON  |  WEDNESDAY, 12 MAR 2025
... deceased member's account during periods of unreasonable delay... and/or provide suitable and timely remediation to claimants adversely affected by the backlog." The regulator found AustralianSuper did not maintain a central repository of claims ...

Bragg accuses ASIC of secrecy

ELIZA BAVIN  |  THURSDAY, 20 FEB 2025
... anything like silent on the concept of member services, including, in particular, the payment processing, treatment of claimants, treatment of members in regard death benefits," Constant said. "We have had a multi-year program, focused on member services ...

Top superannuation policy priorities for 2025: SMC

ANDREW MCKEAN  |  TUESDAY, 10 DEC 2024
... processes to expediate death benefit payments. It explained complex claims, such as those involving multiple death benefit claimants, complex relationship histories, or the absence of binding death nominations, make the administration of death benefit ...

ASIC flags 'consistently weak' claims processes

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2024
... commissioner Simone Constant said she had chosen to write to trustees now as "this is too important to wait." "From [claimants'] perspective, the clock starts the moment they contact you about the loss of their loved one and stops when the claim is paid. ...

ASIC sues Cbus over insurance claim delays: 'We're sorry'

ELIZA BAVIN  |  TUESDAY, 12 NOV 2024
... impacted members is closer to 10,000 - more than 50% of all the claims Cbus was dealing with in late 2022 - and that some claimants were left waiting more than 12 months for a payout. Financial Standard is aware that Cbus has finalised more than 6000 ...

CSLR warns adviser levy will balloon

KARREN VERGARA  |  FRIDAY, 25 OCT 2024
... $18.5 million to cover the period of 1 July 2024 to 30 June 2025. The scheme opened its doors in April. It has paid 91 claimants about $9.1 million in compensation during the first five months of operation. The total levy estimate, which was calculated ...

AFCA caps Dixon claimants at 2773

KARREN VERGARA  |  FRIDAY, 12 JUL 2024
Total compensation for Dixon Advisory victims has reached $338.6 million as the Australian Financial Complaints Authority (AFCA) caps the total number of complainants at 2773. The Financial Advice Association Australia (FAAA) calculates that the financial ...

AIA Australia releases new member insurance portal

ANDREW MCKEAN  |  MONDAY, 1 JUL 2024
... member insurance portal is part of the company's digital strategy and reflective of its dedication to supporting claimants during their most vulnerable times. "We acknowledge the pivotal role insurers play in providing solutions that give members ...