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Showing 21 - 30 of 68 results for "Disability Income"

Higher premiums a problem, not a trend: AFA

ANNABELLE DICKSON  |  TUESDAY, 21 SEP 2021
... "Now's the time we all must collectively come together to get this right because income protection insurance or disability income insurance in particular is that is the core risk management tool consumers use to protect their most important asset ...

Actuaries Institute unveils IDII recommendations

KARREN VERGARA  |  MONDAY, 24 MAY 2021
The Actuaries Institute has released sweeping recommendations to help fix the individual disability income insurance (IDII) sector that is currently at "risk of failure". The final recommendations follow a 12 month-review, led by an appointed Actuaries ...

APRA extends IDII overhaul deadline

KARREN VERGARA  |  THURSDAY, 13 MAY 2021
APRA has given life insurers another year to have the policy contract term measure for individual disability income insurance (IDII) in full force by 1 October 2022. The prudential regulator has acknowledged the challenges life insurers are facing ...

Disability income faces reckoning

KARREN VERGARA  |  FRIDAY, 30 APR 2021
The former chief executive of TAL has slammed life insurers' ineptitude in managing disability income products, invoking the industry to come together and find a solution by the end of the year. Speaking at the 2021 Actuaries Summit on Wednesday ...

Adviser-led TPD claim admittance rates fall

KANIKA SOOD  |  TUESDAY, 20 APR 2021
... joint claims data published by APRA and ASIC included death, total and permanent disability (TPD), trauma, and disability income insurance (DII) among others. It listed their admittance rates and claims paid out ratios for four channels (individual advised ...

Risk inflows stay flat

ANNABELLE DICKSON  |  WEDNESDAY, 3 FEB 2021
... billion. Risk products reported a $216 million loss over the quarter with a $318 million loss to individual disability income insurance partially offset by a $35.5 million net profit in group disability income insurance and $162.9 million profit in individual ...

Life insurance performance plummets

ANNABELLE DICKSON  |  FRIDAY, 27 NOV 2020
... regulator said. Risk products reported a $216 million loss over the quarter with a $318 million loss to individual disability income insurance partially offset by a $35.5 million net profit in group disability income insurance and $162.9 million profit ...

Zurich adds to leadership team

JAMIE WILLIAMSON  |  WEDNESDAY, 18 NOV 2020
... said she is well placed to lead Zurich's proposition development and design, as it responds challenges facing disability income insurance and seeks to offer sustainable products. "Both Kieran and Jacqui have a reputation for collaboration and creativity. ...

Pandemic batters life insurers

KARREN VERGARA  |  THURSDAY, 15 OCT 2020
... KPMG's 2020 Life insurance insights reveals close to half of the firms it analysed are making a loss. Retail disability income received the biggest blow, losing $1.1 billion in FY20, while group lump sum made a loss of $353 million. Large losses ...

Level premiums to remain

ANNABELLE DICKSON  |  THURSDAY, 15 OCT 2020
Despite the Australian Prudential Regulation Authority's (APRA) intervention to try and salvage individual disability income insurance, level premiums will continue to exist. Speaking on a panel at the Association of Financial Advisers Conference, MLC ...