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Showing 11 - 20 of 27 results for %22Insurance in Superannuation Voluntary Code of Practice%22

FSC aggregates insurance industry data

KANIKA SOOD  |  THURSDAY, 26 JUL 2018
... Financial Services Council is launching a multi-million-dollar data project that will aggregate and distribute life insurance industry data. FSC chief executive Sally Loane announced the project's delivery in Melbourne today, the culmination of two ...

Default life insurance reforms ineffective: Research

KARREN VERGARA  |  WEDNESDAY, 13 JUN 2018
The Federal Government's proposal to ban default life insurance in superannuation for younger members and those with low balances would supress retirement savings and cost the economy $2.46 billion annually, latest research from AIA Australia shows. ...

Industry stakeholders welcome PC report

JAMIE WILLIAMSON  |  WEDNESDAY, 30 MAY 2018
... only once, a 'best in show' shortlist of large default super funds, preserving choice and competition and significant insurance reforms are worthy ideas that should be considered to improve the competitiveness and efficiency of the superannuation system." ...

Industry fund begins lifecycle pension strategy

HARRISON WORLEY  |  TUESDAY, 24 APR 2018
... Transition to Retirement Pension. The new option follows the decision by the real estate industry fund to adopt the Insurance in Superannuation Voluntary Code of Practice.

Industry fund signs on to insurance code

HARRISON WORLEY  |  THURSDAY, 19 APR 2018
A super fund with more than $1.5 billion in assets under management has adopted the Insurance in Superannuation Voluntary Code of Practice. REI Super is the latest fund to adopt the voluntary code, with implementation of the code set to begin on 1 July ...

Lawyers slam life insurers in Royal Commission

KARREN VERGARA  |  FRIDAY, 6 APR 2018
The life insurance industry is failing to prove it can self-regulate via its two "deficient" codes, according to Maurice Blackburn Lawyers' submission to the banking Royal Commission. There have been more than 700 breaches of the Life Insurance Code ...

Super fund redesigns insurance offering

HARRISON WORLEY  |  WEDNESDAY, 4 APR 2018
An $8 billion superannuation fund has opened a tender for its new life insurance offering, one which aims to comply with the Insurance in Superannuation Voluntary Code of Practice well ahead of the 2021 deadline. Tasplan chief operations officer Nick ...

Merged super funds save $30m for members

KARREN VERGARA  |  WEDNESDAY, 4 APR 2018
... recruitment firms, representing more than 55,000 members. Last week, Sunsuper announced it became a signatory of the Insurance in Superannuation Voluntary Code of Practice and will drop TPD insurance premiums for life product members by an average of ...

PJC doubts life insurance industry can self-regulate

KARREN VERGARA  |  WEDNESDAY, 28 MAR 2018
A Parliamentary Joint Committee on life insurance said it is "not convinced" the industry can sufficiently self-regulate and is recommending the co-regulatory approach foreshadowed by ASIC. In its final report, the PJC on Corporations and Financial ...

Industry fund signs super code, slashes premiums

JAMIE WILLIAMSON  |  TUESDAY, 27 MAR 2018
A $50 billion industry fund is the latest signatory to the Insurance in Superannuation Voluntary Code of Practice, announcing it will drop TPD insurance premiums by an average of 20% at the same time. Signing up to the code from March 31, Sunsuper believes ...