| | MONDAY, 30 MAR 2020 12:31PMChallenger Life has tilted its investment portfolio away from equities and sub-investment grade fixed income and towards more liquid assets, as COVID-19 sparks volatility in most asset classes.|
|TAL has issued a stern response following recent media speculation that the insurer was ceasing cover to those affected by COVID-19.|
|The major life insurer has confirmed several roles within its life insurance distribution team have been made redundant as a result of a restructure.|
|Two of the country's biggest insurers have halted cover for COVID-19 for some new customers, in new exclusions since the outbreak of the virus.|
|A prominent law firm is calling for upcoming changes to default insurance within superannuation to be postponed, as the COVID-19 pandemic increases the chance Australians will need to rely on the cover automatically provided by their super fund.|
|The tough times in Australia's life insurance sector have forced the provider to overhaul its pricing.|
|The Financial Services Council has responded to a largely damning report from the Life Code Compliance Committee, arguing it is silent on positive changes the industry has made.|
|Law firm Maurice Blackburn has called out the life insurance industry, saying insurers breached their Code of Practice hundreds of times in just six months.|
|Members of Defence Bank Super and Crescent Wealth Super have been notified their insurance premiums will increase 34%, after TAL advised it would increase premium rates.|
|Cbus is changing the way it calculates insurance premiums, with members set to pay more for death and TPD insurance cover.|
APRA has asked superannuation funds to submit their in-house modelling on the magnitude of impact they are expecting from the Federal Government's special allowance for early release from superannuation.
Zenith Investment Partners wants to reverse out of its planned $12 million purchase of Chant West's superannuation business, saying the latter has been materially affected since February, but Chant West is digging its heels in.
The $10 billion industry superannuation fund has issued a notice to members detailing changes to investment fees, admin fees, insurance premiums and investment objectives.
New research has revealed the 22 ASX 300 companies - many of which super funds have exposure to - that are polluters and haven't performed well this year.
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