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| | | The NSW Court of Appeal has ruled pandemic exclusions are invalid, and insurers will have to cover COVID-19; a ruling that has seen IAG go into a trading halt. IAG entered a trading halt on the back of the news, with the ruling possibly meaning insurers ... |
| | | | ... hearings. Under the new law, insurance-claims handling will now be under the umbrella of "financial service", meaning insurers must hold an AFSL to be involved in the claims process. They must also handle claims efficiently, honestly and fairly, and ... |
| | | | ... industry. For example, financial hardship is a predictive factor for mental health conditions - so during economic slumps insurers could theoretically see an increase in claims. However, there are comorbidities between mental health conditions and other ... |
| | | | ... AMP has updated its approved product list (APL), allowing aligned financial advisers to recommend an enhanced suite of insurers. The new APL includes AIA, BT, MetLife, OnePath/Zurich and TAL. BT and MetLife are the two new additions. And, for the first ... |
| | | | ... Mutual (Life and TPD Cover). Plan For Life regional managing director Rael Solomon said during 2020, the leading life insurers continued their efforts in getting the direct life market back on track. "While it will still take time for sales to return ... |
| | | | ... overseas. Locally, Frontier is tapping into what it calls emerging institutional investors (endowments, universities, insurers), where it hopes platforms like HUB24 and Netwealth will make its advisory job easier by allowing them on the platform infrastructure. ... |
| | | | ... claims. ASIC's MoneySmart life insurance claims comparison tool has been updated with the latest data. The tool compares insurers across cover types and distribution channels on four metrics - the percentage of claims accepted, the length of time taken ... |
| | | | The coronavirus pandemic has wiped out $1.4 billion from the books of life insurers and triggered a spike in claims, according to new research. KPMG's 2020 Life insurance insights reveals close to half of the firms it analysed are making a loss. ... |
| | | | ... Williamson said the goal is to play a larger role in the group insurance market and challenge the more established group insurers. "Insurance inside superannuation is experiencing significant change in light of COVID-19, and we need to ensure we're ... |
| | | | ... revise down insurance costs. "As you would be aware there has been an industry wide assessment and repricing by life insurers for both death and TPD," Coysh said. "The changes largely reflect the impact of COVID-19 on expected claims experience." In ... |
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