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|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.|
|AIA Australia, which now owns CommInsure Life, has announced that CommInsure Protection products will cease accepting new business from 31 March 2020.|
|Members of a $25 billion industry superannuation fund are set to pay higher insurance premiums from April 1, with some paying up to 20% more for death and TPD.|
|Premiums for retail income protection policies with insurer AIA have climbed substantially over the last two years.|
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A former financial adviser and licensee director has been sentenced to six years' imprisonment for misappropriating close to $2 million for his own use.
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Pinnacle Investment Management's 16 affiliates tallied up only $3 billion in net inflows in FY20 as institutional allocators deferred mandate decisions in COVID-19 but the firm managed to grow NPAT by 5.6% to $32.2 million.
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ASX-listed trading platform SelfWealth has renewed its clearing, settlement and execution (CS&E) mandate with retail broker OpenMarkets, in a move that it says demonstrates the two fintech's shared objective of disrupting the status quo.
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The self-managed super fund administration and software provider has appointed two new technology leads, set to help Class continue to grow and innovate.
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