Category | Company News

Royal Commission Finds Insurers Open to Multiple Breaches

The Banking Royal Commission has concluded its hearings into the life insurance sector after being told the three life insurers who provided testimony were likely to have breached the Corporations Act multiple times. (more…)

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0 · September 24, 2018 in Company News, Compliance & Regulation, Products, Remuneration, Services  

PPS Mutual Releases Updated Definitions

Specialist life insurance company, PPS Mutual has updated a number of medical definitions for serious medical conditions and expanded some of the benefits within its Professionals Choice product range. (more…)

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0 · September 24, 2018 in Appointments, Company News, Products  
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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  
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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  
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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  
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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  

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  
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Commission Details Potential Life Insurer Misconduct

Major insurers offering products into the retail advised life insurance market have presented a lengthy list of possible misconduct to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. (more…)

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2 · September 11, 2018 in Claims, Company News, Compliance & Regulation, Products, Remuneration, Services  
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ClearView Admits to 300,000 Breaches of Anti-Hawking Regulations

ClearView Life has admitted to more than 300,000 breaches of anti-hawking provisions related to the sale of direct life insurance by the company. (more…)

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0 · September 10, 2018 in Company News, Compliance & Regulation, Products, Services