|New research from MetLife suggests that financial advisers should consider multiple payment structures to meet client needs.|
|The Australian Prudential Regulation Authority released its look-back at 2019, making special mention of tough times for the life insurance industry and questioning its sustainability.|
|Two of the nation's largest insurers have temporarily halted sales of insurance policies to fire-affected areas in New South Wales and Victoria.|
|Australia's life insurance industry is facing deteriorating profitability in relation to income protection products, according to MLC Life Insurance owner Nippon Life.|
|After 13 years, a $22 billion corporate superannuation fund is set to cut ties with TAL.|
|ASIC has commenced proceedings against TAL Life in the Federal Court over one of the cases referred to it by Royal Commissioner Kenneth Hayne.|
|An $8.5 billion corporate superannuation fund has swapped out MLC Life Insurance for another provider after eight years.|
|Super Consumers Australia (SCA) has slammed AMP in an open letter to the board; criticising the wealth giant for significant delays in its "abhorrent" handling of group insurance claims.|
|The use of cold calling to sell direct life insurance will be prohibited in the New Year.|
|The Australian Prudential Regulation Authority has launched an intervention into the life insurance market in response to ongoing heavy losses in respect of individual disability income insurance.|
Australia's superannuation sector is fighting a war on three different fronts, as the economic fallout of COVID-19 continues to bite.
Significant hikes in group insurance premiums have been put down to the Protecting Your Super reforms - with members of four superannuation funds facing premium increases of 34%.
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.
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