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Parliament Questions APRA on Insurance Issues

A Parliamentary committee has questioned the Australian Prudential Regulatory Authority about the life insurance industry’s sustainability woes.

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3 · July 29, 2014 in Compliance & Regulation, General  

Bombora Attracts Two New Practices

Bombora Advice has announced the addition of two more practices to its risk-specialist network.

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· July 29, 2014 in Dealer Groups  

Advisers Willing to Provide Identity Theft Services

Just under 50% of financial advisers believe they have a role to play in protecting their clients from the risk of identity fraud, new research from Zurich has found.

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0 · July 29, 2014 in Services, Technology  

Hybrid Commission Model Proving Popular

Advisers are increasingly embracing hybrid commissions, according to AIA Australia.

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0 · July 29, 2014 in Company News, Remuneration  

Limit Claims Timeframes, Increase Level Premium Take-up – TAL

TAL is calling for a time limit to be placed on ‘living benefit’ claims, and a greater recognition of level premiums, to help ease upward-trending insurance costs.

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3 · July 29, 2014 in Claims, Company News, Compliance & Regulation, Products  

‘Fear of Advice’ Holding Industry Back

The industry needs to tackle consumers’ ‘fear of advice’ in order to be successful at growing the number of Australians receiving financial advice, according to Baz Gardner.

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0 · July 29, 2014 in Conferences and Events, Services, Technology  

PIS Monitoring Program Concludes

Professional Investment Services has received a positive scorecard from the regulator, at the conclusion of its adviser monitoring program.

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· July 28, 2014 in Compliance & Regulation, Dealer Groups  

Insurers Throw Support Behind Return to Work Principles

In a bid to reduce claims durations and improve the sustainability of the life insurance industry, AIA Australia and TAL have voiced their support for rehabilitation and return to work services.

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1 · July 24, 2014 in Claims, Company News, Services  

ASIC Cancels, Suspends 11 AFSLs

Eight Australian financial services licences (AFSLs) have been cancelled and three more suspended in the latest round of regulatory action from the Australian Securities and Investments Commission (ASIC).

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· July 22, 2014 in Compliance & Regulation, Dealer Groups  

FoFA Regulations Remain in Place, For Now

The Federal Opposition will have to wait until August before it can make another attempt at disallowing the Future of Financial Advice (FoFA) amendment regulations.

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0 · July 21, 2014 in Compliance & Regulation