The complaints authority’s lead ombudsman says the life insurance industry is rapidly pricing itself out of consumers’ range and will encounter serious sustainability issues if it can’t harness innovation – just like the banks are facing with buy-now, pay later disruptors.
Tahn SharpeApril 26, 2021
The long-awaited Life Insurance Framework review will now be rolled into the Quality of Advice review, with ASIC being asked to hand over its research to Treasury. It’s “silly” to have two separate reviews into advice at the same time, minister Hume said.
Tahn SharpeApril 21, 2021
Class actions and regulatory pressure will keep the professional indemnity insurance market tough for another two to three years, consultants say, but a smattering of new market entrants may hint at relief for advisers down the line.
Tahn SharpeMarch 17, 2021
Many insurance advisers are expected to leave the industry rather than sit and pass the adviser exam before the end of the year, but brokers report there are almost no risk books on the market. A flood of these businesses in the final quarter of the year could cut valuation multiples in half, they warn.
Tahn SharpeMarch 15, 2021
All forms of remuneration are potentially conflicted so the ongoing FFS V FUM debate is a wasteful distraction, says adviser Maurice Nistico. Figure out what works best for your business and your clients and ignore the dogma.
Tahn SharpeMarch 8, 2021
Income protection, cash flow management and portfolio diversification are important areas this emerging segment of client which has the highest household income of any other group wants advice on, a new study shows.
Matthew SmithMarch 4, 2021
Less than an hour after Labor’s Stephen Jones said insurance commissions were “a problem”, Liberal MP and ex-planner Bert van Manen called them a “perfectly valid form of remuneration”. Despite his endorsement, financial services minister Jane Hume says the government will also wait on the LIF review's findings before making a call on the issue.
Tahn SharpeMarch 3, 2021