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Showing 61 - 70 of 121 results for "Code of Practice"

Lawyers slam life insurers in Royal Commission

KARREN VERGARA  |  FRIDAY, 6 APR 2018
... Lawyers' submission to the banking Royal Commission. There have been more than 700 breaches of the Life Insurance Code of Practice in the short time it took effect on 1 July 2017, Maurice Blackburn principal Josh Mennen said. The law firm detailed a ...

Super fund redesigns insurance offering

HARRISON WORLEY  |  WEDNESDAY, 4 APR 2018
... for its new life insurance offering, one which aims to comply with the Insurance in Superannuation Voluntary Code of Practice well ahead of the 2021 deadline. Tasplan chief operations officer Nick Connor said the fund's new insurance design intends to ...

Merged super funds save $30m for members

KARREN VERGARA  |  WEDNESDAY, 4 APR 2018
... 55,000 members. Last week, Sunsuper announced it became a signatory of the Insurance in Superannuation Voluntary Code of Practice and will drop TPD insurance premiums for life product members by an average of 20%. From 1 July 2018, Sunsuper will adopt ...

PJC doubts life insurance industry can self-regulate

KARREN VERGARA  |  WEDNESDAY, 28 MAR 2018
... definitions, customer communication timeframes and mental health - are either already included in the FSC Life Insurance Code of Practice or will be adopted in the second iteration. ASFA chief executive Martin Fahy also said many of the PJC's recommendations ...

Industry fund signs super code, slashes premiums

JAMIE WILLIAMSON  |  TUESDAY, 27 MAR 2018
A $50 billion industry fund is the latest signatory to the Insurance in Superannuation Voluntary Code of Practice, announcing it will drop TPD insurance premiums by an average of 20% at the same time. Signing up to the code from March 31, Sunsuper believes ...

ABA makes new code compulsory

KANIKA SOOD  |  MONDAY, 26 MAR 2018
... wishing to be members of the Australian Banking Association (ABA) will now have to sign up for its revamped Banking Code of Practice, which is currently awaiting ASIC's nod of approval. The new code will be binding, enforceable by law and will be monitored ...

O'Dwyer flags government intervention on insurance in super code

KARREN VERGARA  |  THURSDAY, 22 MAR 2018
... their retirement savings could be reduced to 12% or $93,000." She fears the Insurance in Superannuation Voluntary Code of Practice, while it includes solutions for some of these issues, "the that fact it will not be binding on trustees means that industry-led ...

FSC honours life insurance industry talent

KARREN VERGARA  |  WEDNESDAY, 21 MAR 2018
... Loane said: "Following significant change last year that saw the introduction of the first FSC Life Insurance Code of Practice, the life insurance industry continues to progress a strong consumer reform agenda in 2018." The awards recognise the significant ...

Super industry wants tougher insurance code

KARREN VERGARA  |  MONDAY, 19 MAR 2018
... stakeholders expect 90% of Australia's superannuation funds to sign the Insurance in Superannuation Voluntary Code of Practice before March 31, despite its several shortcomings. ANZ, AustralianSuper, MLC, MTAA Super, REST Industry Super and Telstra Super ...

Successful implementation of super code critical

STEPHEN FAY, JAMIE WILLIAMSON  |  THURSDAY, 15 MAR 2018
The Conference of Major Super Funds saw discussion on the Insurance in Superannuation Voluntary Code of Practice move to issues of implementation as the code's subscription deadline looms. Superannuation funds have until March 30 to indicate whether ...