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ASIC and APRA crack down on duration-based premiums

ASIC and APRA crack down on duration-based premiums

APRA and ASIC have made clear to life insurers that they need to be clearer with consumers about the real cost of duration-based premiums.
Life insurance coverage on the rise despite sticky knowledge gap

Life insurance coverage on the rise despite sticky knowledge gap

New research from NobleOak has confirmed the number of Australians with life insurance has risen despite a concerning knowledge gap.
Zurich hit with $37,560 ASIC penalty

Zurich hit with $37,560 ASIC penalty

Major insurer Zurich has been hit with two ASIC infringement notices totalling $37,560 over its handling of trauma claims.
Millennials face increasing financial burden in retirement

Life insurance red tape reduced via new digital initiative

Yasmine Raso 4 June 2025 No Comments

Life insurance applicants will have access to digital questionnaires for medical information, through an Acenda-EQ Pathology initiative.

Morris-Garsin

Zurich appoints new claims excellence lead

Yasmine Raso 2 June 2025 No Comments

Zurich has signalled its renewed focus on claims transformation with the appointment of Morris Garsin as Head of Claims Excellence ANZ.

annuities

MetLife urges for strategy “rethink” to achieve comfort in retirement

Yasmine Raso 22 May 2025 No Comments

MetLife Australia has called for a “rethink” of retirement planning strategies, as surging costs see confidence in savings plummet.

Sign on table saying Competitive Advantage with scrunched up paper balls

‘Pure-play’ ClearView values IFA distribution

Mike Taylor 14 May 2025 One Comment

Life insurer ClearView has sold its advice business and exited wealth but continues to focus on IFAs as a distribution cornerstone.

Dexx&r Dec2024

Gutting of life/risk advice again hits premium sales

Mike Taylor 7 May 2025 13 Comments

The exodus of life/risk advisers has continued to weigh on the life insurance sales with new premiums down 18.5%, according to Dexx&r.

Figures avoid potholes

Playing policy holey moley and losing

Col Fullagar 28 April 2025 No Comments

Life/risk claims expert, Col Fullagar, analyses a recent court case involving a TPD claim and concludes intransigence delivers no winners.

Ripped paper with Life Insurance written on it

APRA life/risk data short on death benefit detail

Mike Taylor 16 April 2025 3 Comments

The latest APRA data covering life insurance claims has not named or shamed the super funds who have fallen short on death benefits.


INDUSTRY NEWS

Personal Medical Attendant Reports: Simpler, smarter, faster – now digital with Acenda 

Financial Newswire Contributor 2 June 2025

Industry News

No Comments

Acenda has launched digital PMARs – an Australian life insurance industry first – setting a new benchmark in underwriting efficiency.  

Retirees need to dial down risk and focus on income

Financial Newswire Contributor 26 May 2025

Industry News

No Comments

For investors nearing retirement this intense market volatility couldn’t be more poorly timed. A big loss now could leave them lacking later in life.

Take life on with Acenda, the new face of MLC Life Insurance.  

Financial Newswire Contributor 19 May 2025

Industry News

No Comments

For over 130 years, MLC Life Insurance has helped Australians protect their futures and the futures of those they love. Now, as Acenda…

Duration’s comeback: A better friend for income and credit

Financial Newswire Contributor 8 April 2025

Industry News

No Comments

We think it is time for income and credit investors to accept duration back into the friend circle…


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Hand pushes white chess piece

A not so fairytale of two life insurers

Col Fullagar | 14 April 2025Financial Newswire's life/risk expert, Col Fullagar tells the tale of how Princess Partial bested the evil CEO, King Ka Ching on TPD.
ASIC website browser image

ASIC sues Hollard over claims handling failure

Mike Taylor | 11 April 2025ASIC is continuing its crack-down on insurance claims handling, this time initiating action against general insurer, Hollard.

TAL takes 15.1% of Challenger

Mike Taylor | 7 April 2025Major life insurer TAL, owned by Dai Ichi Life, has taken a 15.1% stake in Challenger in a move seen as lifting its annuities reach.
Integrity, ethics, honesty, respect

Claims management bullying – Part 2

Col Fullagar | 7 April 2025Bullying comes in all shapes and sizes and can be particularly insidious when people make life/risk claims, as Col Fullagar explains.
Gloved hands genetic testing

10% of insurance inside super underwritten

Mike Taylor | 25 March 2025Major superannuation fund organisation, ASFA, has confirmed the degree to which insurance inside super avoids adverse genetic testing.
Hourglass

Claims management bullying – Part 1

Col Fullagar | 24 March 2025Life/risk columnist, Col Fullagar, laments that 12 years after he wrote a damning assessment of claims handling, too little has changed.
Ripped paper with Life Insurance written on it

Insurance inside super under threat – Mercer

Mike Taylor | 21 March 2025The impact of governance policies have contributed to placing insurance inside superannuation under threat, according to Mercer.
Gloved hands genetic testing

Will group life trump adverse genetic testing?

Mike Taylor | 20 March 2025Amid the debate over genetic testing, the FAAA has pointed out that those with negative outcomes can still access group cover via super.