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| | | ... financial advice," FAAA chief executive Sarah Abood said. "The government has also provided certainty with the continuation of life insurance commissions, whilst introducing a consent obligation that is covered through existing client approval arrangements." ... |
| | | | ... for agents or employees of Australian Authorised Deposit-Taking Institutions (Recommendation 13.5) will also be removed. Life, general and consumer credit insurance commissions (Recommendations 13.7 - 13.9) will have to provide standardised consumer ... |
| | | | ... Harrison was tasked with reinventing Zurich's Australian life insurance business; it is now the third-largest life insurer in Australia, according to Plan for Life data. Most recently, Harrison served as chair of Synchron, a role he took up in 2011 ... |
| | | | ... $10 million, in addition to $12 million in remediation, for failing to pay promised rehabilitation benefits. The life insurer was penalised by the Federal Court after it was found guilty of several breaches of the ASIC Act, the Corporations Act, and ... |
| | | | ... entered into the contract, even if a diagnosis had not been made, ASIC said. It further alleged the term suggests that HCF Life can deny coverage even if the customer was not aware of the pre-existing condition. ASIC reinforced: "s47 of the Insurance ... |
| | | | ... across the board for the insurance cover provided in Super Savings (previously the insurance cover provided in Sunsuper for life)," it said. In a statement, ART head of product Shane Mather said: "As a profit-for-members fund, ART does not take insurance ... |
| | | | According to the latest data on life insurance claims and disputes from APRA and ASIC, TAL is the largest player in the group insurance sector in Australia. TAL leads the life insurance market, boasting a 40.4% market share, insuring 3.9 million lives ... |
| | | | ... launched an incentive program for new retail clients in a bid to encourage healthy behaviours. The insurer offers Healthier Life Reward to new customers who are non-smokers with a body mass index between 18-26 and have no medical loading. Customers must ... |
| | | | Brighter Super has provided an update about its pending merger with Suncorp's superannuation business, which will officially occur on June 1. Suncorp Super or the SPSL Master Trust members will be transferred to Brighter Super and see their account ... |
| | | | ... CPS 231 Outsourcing (CPS 231) and Prudential Standard CPS 232 Business Continuity Management (CPS 232) that apply to ADIs, life insurers and general insurers, the equivalent superannuation standards Prudential Standard SPS 231 Outsourcing (SPS 231) and ... |
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