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Insurance

ASIC lifts ClearView interim stop order

KARREN VERGARA  |  FRIDAY, 21 JUL 2023
ASIC has lifted its interim stop order after ClearView swiftly amended the deficiencies in its Target Market Determination (TMD).

ASIC slaps interim stop order on ClearView

KARREN VERGARA  |  WEDNESDAY, 19 JUL 2023
ClearView has copped an interim stop order on two of its life insurance products after ASIC found deficiencies in its Target Market Determination (TMD).

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
The disgraced director of Select AFSL, the company the Hayne Royal Commission exposed for hawking life and funeral insurance to vulnerable customers, has been banned from managing a company for five years, while his companies were fined $13.5 million.

Cbus informs members of premium changes

JAMIE WILLIAMSON  |  TUESDAY, 4 JUL 2023
Almost all Cbus members will see their death and TPD premiums drop next month, however most of the fund's older members will pay more.

TelstraSuper introduces new option, drops premiums

JAMIE WILLIAMSON  |  MONDAY, 26 JUN 2023
TelstraSuper is making changes to its investment menu, while also decreasing income protection premiums for members.

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON  |  FRIDAY, 19 MAY 2023
MLC Life will pay $10 million, in addition to $12 million in remediation, for failing to pay promised rehabilitation benefits.

Adviser PI premiums up 40%: APRA

JAMIE WILLIAMSON  |  THURSDAY, 11 MAY 2023
The cost of professional indemnity insurance increased at least 40% for financial advisers since 2015, a new report from APRA shows.

HESTA revamps insurance offering

JAMIE WILLIAMSON  |  THURSDAY, 4 MAY 2023
HESTA has renewed its mandate with AIA Australia and, in doing so, made a raft of changes to its insurance offering.

TAL, AIA dominate group life market

ANDREW MCKEAN  |  WEDNESDAY, 19 APR 2023
According to the latest data on life insurance claims and disputes from APRA and ASIC, TAL is the largest player in the group insurance sector in Australia.

AIA launches retail rewards program

KARREN VERGARA  |  TUESDAY, 18 APR 2023
AIA Australia has launched an incentive program for new retail clients in a bid to encourage healthy behaviours.