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| | | 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 ... |
| | | | ... 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 ... |
| | | | ... 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 ... |
| | | | ... 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 ... |
| | | | ... 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 ... |
| | | | ... 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 ... |
| | | | 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 ... |
| | | | ... 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 ... |
| | | | ... investment options, including most indexed offerings. However, any savings will be offset by substantial increases in insurance premiums. The fund notified members that, from July 1, the cost of its various investment options will change, with the bulk ... |
| | | | ... occupational or personal pension schemes. In 2020, ASIC introduced a ban on the use of cold calling to sell direct life insurance. Meanwhile, in 2021 anti-hawking legislation was introduced. Earlier this year, the Australian Institute of Superannuation ... |
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