Category | General

Address Under-insurance at Personal Finance Level

Income protection insurance should be presented as part of personal finances and Governments should be pressuring insurers to provide transparent and easy to understand products, a new global study into income protection under-insurance has stated. (more…)

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0 · November 17, 2017 in Company News, General, Products  
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Adviser Loyalty to Insurers Falls Away

The number of life insurers used by financial advisers has fallen to its lowest level in three years yet more than a quarter of advisers are looking to establish a relationship with a new insurer in the next 12 months, according to Investment Trends. (more…)

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6 · October 24, 2017 in General, Products, Services  
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Taskforce Calls for Boost to ASIC Penalty Regime

Financial advisers could be hit with fines of $126,000 for failing to provide a Statement of Advice (SoA) under new recommendations being put forward by a Federal Government taskforce, which has recommended the penalties available to ASIC be substantially increased. (more…)

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5 · October 24, 2017 in Compliance & Regulation, General  

Premium Inflows Continue to Grow at Modest Rate

Overall life insurance risk premium inflows have grown at a rate of 2.3% for the year to the end of June but overall risk sales declined by 9.2% due to shifting mandates in the group risk sector, according to data released by Strategic Insight. (more…)

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1 · October 20, 2017 in Company News, General, Products  
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Hybrid Commissions Gaining Ground

Financial advisers are favouring hybrid commission models over level commission or fee for service, and estimate more than half of their revenue will come from that model by 2020, according to Investment Trends. (more…)

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1 · October 10, 2017 in General, Practice Management, Remuneration  
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Life Insurance Advice Complaints Remain Low

Disputes lodged with the Financial Ombudsman Service (FOS) reached a record level after increasing by 16% over the past 12 months but disputes regarding life insurance remain relatively low. (more…)

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4 · October 6, 2017 in Compliance & Regulation, General  
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Risk Specialist Adviser Numbers Continue to Fall

The proportion of risk specialists among advisers who write risk business has continued to decline to its lowest point in five years, according to Investment Trends. (more…)

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9 · October 3, 2017 in Compliance & Regulation, General  
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Advisers Most Satisfied With ClearView

Advisers have named ClearView as the life insurer with which they are most satisfied, according to industry research group, Investment Trends which has also given the insurer its Overall Satisfaction – Insurer Award for the first time. (more…)

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4 · September 26, 2017 in General, Products, Services  

Consumers Unwilling to Recommend Insurers

The lack of trust in life insurance by Australian consumers has come about because of a misalignment of interests that began with the demutualisation of the life insurance industry over 20 years ago, claims PPS Mutual Chief Executive, Michael Pillemer. (more…)

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4 · September 26, 2017 in General, Products, Remuneration, Services  
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AIA Australia to Hold Quarter of the Market

AIA Australia will leap to the top of the largest life insurance companies in Australia following its impending purchase of CommInsure, according to research house, DEXX&R. (more…)

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0 · September 22, 2017 in Company News, General