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TAL Pays Nearly $1 Billion in Claims

TAL paid more than $947 million in claims in 2014, an increase of around 125% on the previous 12 months, the insurer has reported.

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0 · April 27, 2015 in Claims, Company News  

FSC Will Submit Insurance Proposal to Govt in 6 Weeks

The Financial Services Council will prepare its own response to the Trowbridge Report, to be submitted to the Government within six weeks, FSC CEO, Sally Loane, has confirmed.

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0 · April 22, 2015 in Associations, Company News, Compliance & Regulation, Remuneration  

ANZ Latest Bank to Report Advice Issues

The ANZ Bank has advised it will be compensating advice clients who did not receive their full package of services, in response to the latest advice failure to hit the industry.

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0 · April 21, 2015 in Company News, Compliance & Regulation  

Senate Committee Grills Banks on Advice

The need for an industry standard approach to breach reporting and greater transparency of the employment history of advisers were among the key issues discussed at a Senate Committee hearing featuring senior executives from a number of Australia’s largest financial institutions.

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2 · April 21, 2015 in Company News, Compliance & Regulation  

Synchron Calls for Insurance Product Innovation

The objectives of the Trowbridge report could be achieved through improved product design and smarter underwriting, according to Synchron, which is urging insurers to step up to the plate.

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4 · April 21, 2015 in Compliance & Regulation, Dealer Groups, Products, Remuneration, Technology  

LIAWG Failed to Deliver on Terms of Reference – AFA

AFA CEO Brad Fox has expressed his disappointment that the Life Insurance and Advice Working Group failed to deliver on its original Terms of Reference.

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15 · April 21, 2015 in Uncategorized  

Frydenberg to Industry – You Have Weeks, Not Months

The Australian insurance industry has “weeks, not months” to address the recommendations made in the Trowbridge Report, the Assistant Treasurer has warned.

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15 · April 20, 2015 in Compliance & Regulation, Remuneration  

News in Brief

Inflows Up but Sales Down; New Brand for AFA’s Professional Designation; TPB Releases Experience Requirements

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· April 17, 2015 in Appointments, Associations, Company News, Compliance & Regulation, General  

Trowbridge Recommendations a Place to Start – Synchron

The Trowbridge recommendations are a “starting point” for the industry, according to Synchron’s Don Trapnell.

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9 · March 31, 2015 in Compliance & Regulation, Dealer Groups, Remuneration  

News in Brief

ASIC Bans CBA Advice Employee; ANZIIF Insurance Awards Open; $110,000 Available in Future2 Grants

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· March 31, 2015 in Associations, Compliance & Regulation, General