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Insurance

Life readies for new cap increases

BEN COLLINS  |  FRIDAY, 17 AUG 2012
Insurers are preparing for the impact of the Life and General Insurance Capital (LAGIC) reforms, increasing their capital reserves.

Zurich says no to online sales

MARK STORY  |  THURSDAY, 9 AUG 2012
Based on heartening satisfaction levels experienced by SME businesses when dealing with Zurich's traditional broking channels, the insurer has consciously decided to avoid the gravitation towards online sales taken by its competitors to boost investments.

Life insurance industry under pressure

LINDA HAUSKEN  |  WEDNESDAY, 8 AUG 2012
Attracting new capital to build a more sustainable life insurance industry is currently one of the major challenges faced by Australian insurers, according to TAL.

FSC launches life commission claw-back

BEN COLLINS  |  FRIDAY, 3 AUG 2012
A new initiative has been unveiled that will see financial advisers repay their entire commissions on life insurance if a policy lapses in the first year.

Value still key in insurance

BEN COLLINS  |  THURSDAY, 2 AUG 2012
The remuneration components of the Future of Financial Advice reforms may be distracting from the needs of consumers when it comes to insurance, said Brett Clarke, chief executive officer, retail life, TAL.

First Super appoints MetLife

ALEX DUNNIN  |  TUESDAY, 31 JUL 2012
First Super has appointed MetLife Insurance Limited as its group insurance provider after a recent review of its insurance arrangements.

Fix churn with watch list: AFA

MELANIE TIMBRELL  |  MONDAY, 16 JUL 2012
The Association of Financial Advisers said churn should be handled by insurers sharing information to create an industry watch list that would identify advisers participating in the practice.

Climate change already an insurance risk

ALEX DUNNIN  |  FRIDAY, 13 JUL 2012
Political opposition to the carbon tax may be at record highs in Australia but for insurers climate change has for many years already been an economic and business risk they have had to plan for.

Direct insurance 40% of market by 2021

ALEX DUNNIN  |  THURSDAY, 5 JUL 2012
Directly sold insurance will comprise 40% of the market within a decade and intermediaries need to be prepared to work with the growth channel rather than see it as a competitor.

Churning needs to be tackled with underwriters

BEN COLLINS  |  TUESDAY, 29 MAY 2012
The issue of 'churning' in the life insurance industry need to be tackled at the underwriting phase, according to boutique licensee Synchron.