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Showing 61 - 70 of 2182 results for "Claims"

Integrity Life to cease writing new retail policies

JAMIE WILLIAMSON  |  TUESDAY, 5 SEP 2023
... June 2018. The group is adamant that there will be no changes for existing policyholders, adding that its commitment to claims is unchanged. It said all other Integrity partnerships remain open to new business "at this time." "Protection of policyholders ...

Sequoia liquidates Libertas Financial Planning

KARREN VERGARA  |  FRIDAY, 1 SEP 2023
... upfront. The announcement comes amidst Sequoia reporting a difficult 2023 financial year thanks to financial advice-related claims dating back several years, the equities markets downturn, and prevailing uncertainty about the economy, chief executive ...

Madison acquisitions strengthen top line

KARREN VERGARA  |  THURSDAY, 31 AUG 2023
... escrow account created as part of the acquisition of Madison Entities with SC Australian Holdings 1 Pty Limited and security claims against the adviser," said Madison in anticipating the liability. The group's funds under management and advice reached ...

Munich Re targets AMP over alleged reinsurance misconduct

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
... its entire stake in Resolution Life for $524 million. The transaction included several post-completion settlements and claims that led to a net payment from Resolution Life to AMP amounting to $141 million. The sale increased AMP's available capital ...

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
... a class action relating to fee for no service scandals and misleading regulators as exposed by the Royal Commission but claims no responsibility in settling for $110 million. The class action filed in June 2018, affected AMP shareholders whose share ...

Active Super to face action over greenwashing

RACHEL ALEMBAKIS  |  FRIDAY, 11 AUG 2023
ASIC has filed a suit against Active Super over greenwashing claims, alleging, among other charges, that the super fund was invested in Russian assets after the invasion of Ukraine while purporting otherwise to members. The markets regulator has commenced ...

Industry fund cuts insurance costs

ANDREW MCKEAN  |  WEDNESDAY, 9 AUG 2023
... income protection cover. First Super reduced the weekly cost of its default insurance cover, prompted by fewer than expected claims in previous years. For death and TPD insurance, members engaged in blue-collar or manual work will experience a weekly ...

Are indexes the next target for greenwashing investigations?

RACHEL ALEMBAKIS  |  TUESDAY, 8 AUG 2023
... indexes as part of fund construction. "The ACCC have recently released draft guidelines on environmental and sustainability claims," Higgins noted. "One of the many issues called out is use of 'third party certifications' as a way of substantiating ...

eToro sued by ASIC

ANDREW MCKEAN  |  THURSDAY, 3 AUG 2023
... product was far too broad for such a high-risk and volatile trading product where most clients lose money. The regulator also claims that the screening test was wholly inadequate to assess whether a retail client was likely to be within the target market. ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... improvement, he said, adding that weeding out poor advice business models has also helped. Scams, financial difficulty claims on the rise The number of complaints that arose from the superannuation sector soared 31% to 6957. A large chunk of the complaints ...