NZ Regulator Targets Soft Commissions

The New Zealand corporate regulator has raised concerns about the influence of soft commissions on advisers’ behaviour in a review into the structure of incentives from life and health insurers. (more…)

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0 · May 18, 2018 in New Zealand, Products, Remuneration  

ASIC Cancels Licence Following Insurance Advice Breaches

ASIC has cancelled the Australian financial services licence of a Melbourne based business which had been found to be offering advice linked to life insurance that breached obligations to act in the best interests of clients. (more…)

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0 · May 17, 2018 in Compliance & Regulation, Dealer Groups  

AIA Expands Claims on Wheels Ahead of National Rollout

AIA Australia has expanded its Claims on Wheels initiative to cover a wider range of claims ahead of a national expansion of the program in the near future. (more…)

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0 · May 17, 2018 in Claims, Company News, Services  

MLC Life Expands Best Doctors to Include Mental Health

MLC Life Insurance has extended its Best Doctors program with the addition of a new service which provides specialist medical opinions for policyholders experiencing a mental health condition. (more…)

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0 · May 16, 2018 in Company News, Services  

AFA Challenges Royal Commission View of Advice

The AFA has challenged the negative perceptions of the value of financial advice it claims were present at the recent hearings of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. (more…)

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1 · May 15, 2018 in Associations, Compliance & Regulation  

Mixed Support for ‘Two Strikes’ Compliance Breach Policy

A mixed result in our latest poll may suggest this question has more shades than a black-and-white answer. (more…)

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1 · May 15, 2018 in Compliance & Regulation, Polls  

Industry Backs Life Insurance Commissions

The financial services industry has rallied around the ongoing use of life insurance commissions as they currently stand, stating the changes brought about under the Life Insurance Framework (LIF) should be given time to take effect. The AFA and FPA, as well as AMP and three major banks have each maintained that life insurance commissions […]

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8 · May 14, 2018 in Compliance & Regulation, Products, Remuneration  

Views Split on Call to End Grandfathered Commissions

The AFA and FPA have fallen on opposite sides of the fence in their support for the suggestion that grandfathered payments and commissions come to an end, five years after the Future of Financial Advice (FoFA) reforms allowed them to continue. (more…)

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12 · May 14, 2018 in Compliance & Regulation, Products, Remuneration, Services  

AMP Points Finger at Advisers

AMP has used two public statements within a single day to lay the blame for failures within its advice businesses at the feet of advisers, claiming its licensees were not to blame. (more…)

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5 · May 11, 2018 in Company News, Compliance & Regulation, Dealer Groups, Products, Remuneration, Services  

Mental Health Treatment Should be Mainstream

The life insurance sector must continue to develop its focus on mental health issues to the extent it is treated similarly to other insurable conditions, according to ANZ Wealth Head of Mental Health and Wellness, Life Insurance, Maria Falas. (more…)

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0 · May 11, 2018 in Products, Services