NEOS Life Full Retail Market Launch

New industry player, NEOS Life*, has announced it is preparing for a full launch into the retail advised life insurance market. (more…)

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0 · September 19, 2018 in Company News, Products, Services  

Major Insurers Lacked Definition Review Processes

Most major life insurers did not have formal and regular processes to review medical definitions until at least 2016 with four insurers only introducing the processes last year, according to evidence presented to the Banking Royal Commission. (more…)

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2 · September 18, 2018 in Claims, Company News, Products  

Do Medical Definitions Impact Your Choice of Insurer?

Our latest poll is seeking your views as to whether  you are more likely to consider recommending products from an insurer which updates its medical definitions on a more frequent basis? (more…)

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1 · September 18, 2018 in Compliance & Regulation, General  

ClearView Clarifies Royal Commission Testimony

ClearView Life has written to financial advisers explaining that its recent testimony at the Banking Royal Commission applied to a closed direct life business and provided them with a form letter for clients highlighting the difference with advised retail insurance. (more…)

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0 · September 18, 2018 in Company News, Compliance & Regulation, Products, Services  

ASIC Deputy Chair to Resign

The Deputy Chair of ASIC, Peter Kell, has announced his resignation from the regulator six months after the Federal Government extended his appointment for another year. (more…)

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1 · September 18, 2018 in Appointments, Compliance & Regulation  

NAB Advice Head to Depart After Restructure

The head of financial advice at NAB, Andrew Hagger will leave the bank after 10 years following a restructure of its senior executive team. (more…)

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0 · September 18, 2018 in Appointments, Company News, Dealer Groups  

AMP Deducted Premiums From Deceased Policy Holders

AMP has told the Banking Royal Commission that it deducted life insurance premiums from the superannuation accounts of people who have died, even when notified of the person’s death, and repaid the premiums from the death benefit. (more…)

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· September 17, 2018 in Compliance & Regulation, Products, Services, Superannuation  

ASIC Commences Court Action Against Dover, McMaster

ASIC has commenced court action against Dover Financial Advisers and its sole director, Terry McMaster alleging they misled and deceived clients. (more…)

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3 · September 17, 2018 in Company News, Compliance & Regulation, Dealer Groups  

Insurer Conduct In Commission Crosshairs

The Financial Services Royal Commission has concluded the first week of hearings into the life insurance sector, repeatedly questioning whether the actions of insurers could be considered as misconduct under law or ‘falling below community standards and expectations’. (more…)

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1 · September 17, 2018 in Claims, Company News, Compliance & Regulation, Products, Services  

Ross Vanderwolf Takes MDRT Reins

Queensland adviser, Ross Vanderwolf, has commenced his one-year term as the global President of the Million Dollar Round Table organisation. (more…)

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0 · September 13, 2018 in Associations, General