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Insurance

Direct life insurance failing consumers: ASIC

KARREN VERGARA  |  THURSDAY, 30 AUG 2018
A comprehensive ASIC review of direct life insurance found sales practices and products that offer little to no value are leading to poor consumer outcomes.

BT overhauls life cover limits and definitions

JAMIE WILLIAMSON  |  WEDNESDAY, 29 AUG 2018
BT has announced a raft of enhancements to its Protection Plans products, including updated medical definitions and increased life insurance cover for farmers and homemakers.

More risk advisers offloading practices

KARREN VERGARA  |  WEDNESDAY, 29 AUG 2018
Pressures of the Royal Commission, the Life Insurance Framework and educational reforms are prompting risk advisers to hurriedly sell their practices at discount prices, a merger and acquisitions expert says.

TAL waives life premiums for drought-stricken farmers

KANIKA SOOD  |  TUESDAY, 28 AUG 2018
Life insurer TAL will waive insurance premiums for drought-affected farmers in New South Wales and Queensland for a period of six months, it announced today.

MetLife partners with industry fund for digital tool

HARRISON WORLEY  |  TUESDAY, 28 AUG 2018
MetLife Australia partnered with an $8 billion industry superannuation fund to launch its digital life insurance tool designed to speed up claims tracking and lodgment for fund members.

Life insurers take the Royal Commission stand

HARRISON WORLEY  |  TUESDAY, 28 AUG 2018
Some of Australia's prominent life insurers are preparing for time in the Royal Commission witness box, after case studies were announced for the sixth round of public hearings.

Life insurance sector strengthens

KARREN VERGARA  |  FRIDAY, 24 AUG 2018
The life insurance industry turned in a solid FY18, latest APRA statistics show.

TAL partners with mental health NFP

KARREN VERGARA  |  TUESDAY, 21 AUG 2018
TAL is joining forces with a not-for-profit organisation to help raise greater awareness on mental health issues affecting the younger generation.

Foreign owners take over life insurance: KPMG

KARREN VERGARA  |  TUESDAY, 21 AUG 2018
Foreign companies continue to gain the lion's share of Australia's life insurance industry, with the recent sale of CommInsure and OnePath set to boost foreign ownership from less than half to 66%, KPMG research shows.

Life insurance loyalty waning

JAMIE WILLIAMSON  |  MONDAY, 13 AUG 2018
More than 240,000 life insurance policyholders switched provider in the 12 months to June 2018, while a further 766,000 considered switching.