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Showing 1 - 10 of 19 results for %22ADL%22

More pension funds, insurers impacted by MOVEit mass-hack

JAMIE WILLIAMSON  |  TUESDAY, 27 JUN 2023
Among other companies to confirm their involvement, a second US pension fund has notified members their personal information was stolen in the same breach impacting members of CalPERS. The California State Teachers Retirement System (CalSTRS) told members ...

Still work to be done on group insurance: ASIC

JAMIE WILLIAMSON  |  WEDNESDAY, 22 MAR 2023
... offerings, ASIC said it previously found many super funds using restrictive TPD definitions, like the 'activities of daily living' (ADL) definition. Of the 4% of claims assessed under ADL, more than half were rejected. The 2022 review found that, of ...

SCA slams five super funds' junk insurance

KARREN VERGARA  |  THURSDAY, 28 OCT 2021
... tests are difficult to pass and result in insurance that does not meet members' needs. This year, LUCRF Super dropped its ADL definition, saying that the test has come under scrutiny in recent times by both regulators, consumer groups and the wider ...

BNY Mellon partners with FRT

JAMIE WILLIAMSON  |  FRIDAY, 30 APR 2021
BNY Mellon clients will now benefit from the investment giant's use of Financial Recovery Technologies' securities class action recovery services. The two firms have entered a strategic alliance which will see BNY Mellon use FRT's suite of class action ...

Industry fund ups life insurance premiums

JAMIE WILLIAMSON  |  MONDAY, 1 MAR 2021
... reducing the number of definitions a member can be assessed under from five to four and dropping the activities of daily living (ADL) definition. The fund acknowledged that the ADL test has come under scrutiny in recent times by both regulators, consumer ...

Pension plan sued for expensive, active strategy

KARREN VERGARA  |  WEDNESDAY, 2 DEC 2020
US-based Fidelity Investments has been caught up in a class action that alleges a major pension plan exposed members to risky, expensive actively-managed investments instead of allocating to safer passive options. The complaint, filed against Coca-Cola ...

Insurers COVID-19 response slammed

ELIZABETH MCARTHUR  |  WEDNESDAY, 29 JUL 2020
... likely to receive limited cover. That limited cover involves assessing claims against the limited Activities of Daily Living (ADL) definition," Mennen said. Mennen described insurance policies that use ADL as "abhorrent, substandard products". "It only ...

Research slams ADL definition

ELIZABETH MCARTHUR  |  MONDAY, 13 JUL 2020
... how difficult it is for people to claim total and permanent disability (TPD) insurance under the activities of daily living (ADL) definition. The research found the use of ADL definitions has declined somewhat, from the definitions being used in about ...

Bravura secures new mandate

ELIZA BAVIN  |  MONDAY, 6 APR 2020
Bravura Solutions has announced it has secured a new mandate for the use of its Garradin platform. Futurity Investment Group has chosen Garradin platform to support its new range of education bonds. Bravura said Futurity is a member-owned organisation ...

Value facing unprecedented rally: Schroders

ELIZA BAVIN  |  TUESDAY, 19 NOV 2019
Value stocks are headed towards an "unprecedented" boom, according to Schroders UK fund manager Simon Adler. Adler said part of the reason value stocks deserve more attention is because growth has been doing so well. "The last 10 years has been the ...
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