The latest issue of Financial Standard now available as an e-newspaper

READ NOW

Search Results

Showing 1 - 10 of 19 results for "Insurance Contracts Act"

Genetic testing ban may drive up insurance cost, premiums: FAAA

KARREN VERGARA | WEDNESDAY, 28 JAN 2026

... already been subject to large premium increases in recent years. The proposed bill is set to amend the Insurance Contracts Act 1984 to establish a ban which prohibits insurers from using certain information about an individual's genetic testing to inform ...

HCF Life fined $750k for misleading contract term

KARREN VERGARA | FRIDAY, 9 MAY 2025

... mislead consumers if the operation of those terms is modified by, or inconsistent with, provisions of the [Insurance Contracts Act 1 984 (Cth)]". ASIC first took action on HCF Life in May 2023, alleging it used unfair and misleading terms that can deter ...

Treasury consults on genetic test ban in life insurance

JAMIE WILLIAMSON | WEDNESDAY, 12 FEB 2025

... already proposed ASIC would oversee enforcement as it is responsible for the general administration of the Insurance Contracts Act, however the consultation is looking to establish how this would interact with enforcement options under the DDA. Further ...

ASIC secures win against HCF Life

ELIZA BAVIN | TUESDAY, 29 OCT 2024

... if the customer was not aware of the pre-existing condition. Additionally, ASIC said section 47 of the Insurance Contracts Act (ICA) prevents insurers from excluding coverage for non-disclosure of a pre-existing condition if the customer was not aware ...

AFCA consults on superannuation life insurance disputes

ANDREW MCKEAN | TUESDAY, 10 SEP 2024

... approach documents for "key areas" in superannuation: the new approach to sections 29(6) and 29(7) of the Insurance Contracts Act 1984, and the amended approach to delayed insurance claims in superannuation. "The draft Approaches have been developed ...

AFCA seeks industry feedback on approaches

ELIZA BAVIN | FRIDAY, 14 JUN 2024

... AFCA said. The authority said it is looking to create a new approach to sections 29 (6) and (7) of the Insurance Contracts Act 1984 (Cth) (ICA) when it comes to superannuation. It is also looking to amend its approach to delayed insurance claims in the ...

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN | MONDAY, 8 JAN 2024

... income protection policy. The case marks ASIC's first attempt to impose a civil penalty under s13 of the Insurance Contracts Act 1984 (Cth), a section that mandates insurers uphold the duty to act with utmost good faith. In 2018, OnePath, previously ...

ASIC looking to send message with eToro action

CASSANDRA BALDINI | WEDNESDAY, 9 AUG 2023

... 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.

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON | FRIDAY, 19 MAY 2023

... 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 that contained ...

Insurers are 'fishing' for non-disclosures: ASIC

ANDREW MCKEAN | FRIDAY, 2 SEP 2022

... used to check potential inconsistencies in claim information. Since March 2019, section 13(2)(A) of the Insurance Contracts Act 1984 imposes a civil penalty on an insurer that fails to act towards an insured with utmost good faith. The penalty did not ...

PAGE:

BT appoints new head of strategy

KARREN VERGARA

A former Allianz Retire+ executive has joined BT as the new head of strategy.

ASX sees trade volumes soar in May

MATTHEW WAI

ASX saw a substantial growth in trade volumes last month, despite continued lackluster movement in IPOs.

Otivo launches AI-powered financial advice

MATTHEW WAI

Otivo has launched a mobile app for Australians to access licensed advice powered by AI.

Munro expands access to climate focused fund

VINNY VUCAGO

The Munro Global Growth Climate Leaders PIE Fund has been opened to retail investors in New Zealand.

Videos

Brought to you by

Global economic outlook and the case for local currency emerging market debt: Resilience, risk, and opportunity

A guaranteed future

Maintaining a fundamental focus in a world obsessed with the short term

SMILE through retirement - tackling the top 5 (Sequencing, Market, Inflation, Longevity, Emotion) retirements risks

The market has changed. The opportunity hasn't.

Follow the leaders

Strength amid noise

MORE VIDEOS

Products

'Guide To' Series

Pocket investment guides featuring adviser case studies and a glossary.

MORE INFO

Publisher's Forum

Investing trends and strategies from the industry’s thought leaders.

MORE INFO

Product Showcases

Putting the spotlight on investment products that matter.

MORE INFO

Expert Feed

Christian Mueller-Glissmann

Head of Asset Allocation Research

Goldman Sachs

When geopolitics becomes a portfolio risk

Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.

READ MORE

Tania Milnes

General Manager Membership

Financial Advice Association Australia

Does association membership still matter?

With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...

READ MORE