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| | | ... are required? Are there some financial products that should only be sold with personal advice?" they asked. As for life insurers, Orr and Costello asked if they should be prevented from denying claims based on the existence of a pre-existing condition ... |
| | | | ... our current and evolving requirements," Townsend said. Funds SA manages money for public sector superannuation schemes, insurers and endowment funds. Australia's total assets under custody now sit at $3.6 trillion and local custodians are aiding ... |
| | | | ... newest entries in the market - but it does include a range of ETFs, LICs, term deposits, managed accounts and a choice of insurers for advised clients. In an August blog post, Allan Gray Australia said its belief was that clients should choose "whether ... |
| | | | ... with which the dealer group had pre-existing relationships. "We also then consulted with our professional indemnity (PI) insurers and sought the opinion of numerous external consultants before only onboarding those advisers that met a very stringent ... |
| | | | Australian life insurers are unprepared for two new major accounting standards that will shake up the way profit is reported, a KPMG survey shows. The global survey of 160 life and health insurers, and reinsurers included Australian companies. It gauged ... |
| | | | ... poor sales practises. It notified ASIC its call centre staff used unfair and high pressure sales tactics to sell life insurers direct to consumers between 1 January 2014 and 30 June 2017. Of 32,000 life insurance policies sold, ASIC said 1166 were to ... |
| | | | ... insurance products Australians buy Orr turned to how Australians buy life insurance, highlighting the commissions life insurers paid to financial advisers or advice entities as a result of clients purchasing their policies. Orr said that in the five-year ... |
| | | | ... ASIC's review found sales practices and products that offer little to no value are leading to poor consumer outcomes, with insurers regularly providing insufficient information as to adequacy of cover being sold and engaging in pressure selling to ensure ... |
| | | | ... business partner' will be realised through alliances with mortgage brokers, specialist lenders, investment managers, insurers, corporate solicitors, and many more; underpinning new services and facilities, that in turn generates more revenue." By doing ... |
| | | | ... Council said it is "disappointed" ASIC's review into direct insurance has uncovered continuing practices of some life insurers that led to poor consumers outcomes. In response to the report ASIC handed down yesterday, the FSC said its Life Insurance ... |
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