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Showing 731 - 740 of 6953 results for "Insurance"

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... Financial Complaints Authority (AFCA) hands down a decision, using the excuse that they do not have professional indemnity insurance (PII). Out of 5400 decisions AFCA delivered in the 2023 financial year, there were 40 instances of non-compliance. While ...

AAC at centre of billionaire insider trading scheme

CHLOE WALKER  |  WEDNESDAY, 26 JUL 2023
... the business, including financial losses which were not publicly known. Lewis was also informed that AAC did not have insurance coverage relating to cattle lost in the flooding and the losses were not expected to be covered by the Australian government. ...

Insurance firms defy inflationary shocks

KARREN VERGARA  |  WEDNESDAY, 26 JUL 2023
Life and general insurance companies are withstanding the shocks of inflation as investors look to the sector as a shield from wider economic uncertainties. Financial advice firms that specialise in life insurance are experiencing solid demand from ...

ASIC lifts ClearView interim stop order

KARREN VERGARA  |  FRIDAY, 21 JUL 2023
... those who already hold sufficient IP or Accidental IP Cover; and are not able to fund premiums over the life of the insurance contract. The two products offer an income replacement ratio of up to 60%. The interim stop order affected IP distributed through ...

Regulators begin FAR consultation

CHLOE WALKER  |  THURSDAY, 20 JUL 2023
... It is intended the FAR will become effective for ADIs six months after the legislation received Royal Assent, while insurance and superannuation entities will have 18 months to prepare. The documents released by APRA and ASIC include the proposed regulator ...

Westpac closes Specialist Businesses Division

JAMIE WILLIAMSON  |  THURSDAY, 20 JUL 2023
Westpac has decided to fold the Specialist Businesses Division that once housed its platforms, superannuation and insurance businesses, redeploying its lead Jason Yetton. The bank has restructured in support of its next strategic phase, chief executive ...

ASIC slaps interim stop order on ClearView

KARREN VERGARA  |  WEDNESDAY, 19 JUL 2023
ClearView has copped an interim stop order on two of its life insurance products after ASIC found deficiencies in its Target Market Determination (TMD). The interim stop order applies to Clearview Life's ClearChoice Income Protection Cover and Accidental ...

Trustees lack urgency, strategy on RIC: Regulators

KARREN VERGARA  |  TUESDAY, 18 JUL 2023
... implementation of the Retirement Income Covenant shows that the work that needs to be done in the super sector is not just in the insurance space," assistant treasurer Stephen Jones told an industry event in response to the findings. "Funds should know ...

ClearView strengthens leadership team

KARREN VERGARA  |  MONDAY, 17 JUL 2023
... assumes the position of group executive for product and pricing, stepping up from his previous role as head of life insurance product and pricing, which he held since 2021. Kulikov's responsibilities will expand to include data and analytics, and product ...

Leigh Watson caps four decades in industry

ELIZABETH FRY  |  FRIDAY, 14 JUL 2023
... chief operating officer in Asia. Previously he served as chief executive of Asia at MLC. Having worked across the life insurance/reinsurance, funds management and superannuation sectors, he is keeping an eye out for non-executive opportunities, he said. ...