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Insurance

Too much insurance erodes savings

COMPANY RELEASE  |  MONDAY, 21 JUN 2010
Professional Associations Super is calling for its members to tackle overinsurance through multiple super accounts, and to avoid the threat of insurance fees eating into their retirement savings.

Insurance broker gets permanent ban

ASIC RELEASE  |  WEDNESDAY, 16 JUN 2010
ASIC has permanently banned insurance broker Steven James Ker of Palmyra, Western Australia, from providing financial services.

Prudential scraps AIG deal

COMPANY RELEASE  |  FRIDAY, 4 JUN 2010
Prudential has confirmed its agreement with AIG to buy its Asian assets is over.

ACSRF boosts insurance for members

RUTH LIEW  |  FRIDAY, 4 JUN 2010
The Australian Catholic Superannuation Retirement Fund joins the growing number of super funds providing more insurance at little or no extra cost after it increased its death and TPD insurance cover for members from 8 to 28 per cent starting next month.

Prudential halts AIA talks

MICHAEL HOBBS  |  WEDNESDAY, 2 JUN 2010
Insurance giant Prudential is backing away from negotiations to buy AIG's Asian business AIA, a move that could cost Prudential more than AU$790 million, including a hefty AU$260 million break fee.

Zurich doubles death and TPD business

COMPANY RELEASE  |  WEDNESDAY, 2 JUN 2010
Zurich Financial Services Australia has doubled its death and total and permanent disability (TPD) business in a year.

TOWER inforce premiums rise 33pc

MICHAEL HOBBS  |  THURSDAY, 27 MAY 2010
TOWER Australia's inforce premium has grown 33 per cent to $946 million, with AustralianSuper's inforce premium representing $110 million at the end of March.

Discounted life cover at Asteron

COMPANY RELEASE  |  MONDAY, 24 MAY 2010
Everyone loves a discount - so planners looking to boost their clients' life cover can now ask them to look at Asteron, which is offering premium reductions under a new policy that rewards "good health".

Macquarie Life releases flexible insurance

MICHAEL HOBBS  |  TUESDAY, 18 MAY 2010
Macquarie Life has launched an insurance product that allows clients to make multiple claims under the same policy and provides greater flexibility on the definitions of conditions.

New insurance benchmarks on the cards

RUTH LIEW  |  TUESDAY, 11 MAY 2010
The insurance industry could soon face a price shake-up as the Institute of Actuaries of Australia gears up to launch a new set of life tables aimed at providing price benchmarks to insurers.