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Showing 781 - 790 of 6957 results for "Insurance"

APRA finalises rules for financial crisis readiness

ANDREW MCKEAN  |  FRIDAY, 19 MAY 2023
... to restore financial resilience or exit the industry safely, with a focus on protecting stakeholders like deposits, insurance policyholders, and superannuation fund members. Also, CPS 190 makes provisions for smaller entities, subjecting them to less ...

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON  |  FRIDAY, 19 MAY 2023
... penalised by the Federal Court after it was found guilty of several breaches of the ASIC Act, the Corporations Act, and the Insurance Contracts Act between November 2015 and October 2018. At the time, MLC provided income protection cover through policies ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
The Federal Court found AMP guilty of charging deceased customers life insurance premiums and advice fees, ordering it to pay $24 million in penalties. Justice Hespe today determined that four AMP subsidiaries - AMP Life, AMP Financial Planning, AMP ...

Liverpool Partners invests in AI

CHLOE WALKER  |  TUESDAY, 16 MAY 2023
... creating exceptional levels of organizational performance and outcomes in a wide range of sectors including banking, insurance, healthcare and government that collectively employ millions of Australians," Anthony Scott said. "We are excited to have the ...

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... financial position they'd be in if this incident hadn't occurred. This includes refunding administration fees and insurance costs deducted from impacted members' secondary account, along with lost earnings on these amounts. However, AustralianSuper's ...

HCF Life under ASIC surveillance

CASSANDRA BALDINI  |  FRIDAY, 12 MAY 2023
... regulator has started civil proceedings in the Federal Court against the insurer after alleging it issued three types of insurance policies containing unfair and misleading contract terms. ASIC said the case involves standard form contracts issued under ...

AustralianSuper to refund 100k members

CHLOE WALKER  |  FRIDAY, 12 MAY 2023
... position they would be in now if this hadn't occurred," it said. This may include refunding administration fees and any insurance costs deducted from impacted members' secondary account, along with lost earnings on these amounts. According to AustralianSuper ...

AFCA tallies up COVID-19 complaints

JAMIE WILLIAMSON  |  FRIDAY, 12 MAY 2023
... attributed this to the Early Release of Super Scheme. A further 438 related to investments (3%), and 154 were over life insurance (0.9%). The bulk of complaints were in relation to credit (48%) and general insurance (30%). By products, 1134 complaints ...

Adviser PI premiums up 40%: APRA

JAMIE WILLIAMSON  |  THURSDAY, 11 MAY 2023
The cost of professional indemnity insurance increased at least 40% for financial advisers since 2015, a new report from APRA shows. Reviewing claims trends and affordability of public liability and professional indemnity insurance in Australia, the ...

Budget delivers surplus, with a catch

ANDREW MCKEAN  |  TUESDAY, 9 MAY 2023
... spending pressures from fast-growing payment areas including in defence, health, aged care, the National Disability Insurance Scheme (NDIS) and interest payments. To address these challenges, the government said it's taking steps to "strengthen the ...