Risk & Insurance

Risk & Insurance

Funds lambasted by ASIC for marking members as default smokers

ASIC's Danielle Press said the funds that have remediated members have 'heeded' lessons from the royal commission. To date, the same can't be said for AMP, IOOF and Suncorp.

Tahn SharpeAugust 7, 2020

Risk & Insurance

ASIC deflects Trowbridge’s risk advice pay warning

The architect of the 2015 Life Insurance Review said the government’s failure to heed his warning on adviser remuneration has left riskies “unable” to service smaller clients. Most insurance is through super anyway, ASIC’s deputy chair responded.

Tahn SharpeJuly 30, 2020

Risk & Insurance

LIF review should push beyond reforms: FPA, AFA

The Life Insurance Framework was too focussed on remuneration and missed more pressing issues vital to the industry, say the associations, who have challenged ASIC to take a broader view in its scheduled 2021 review.

Tahn SharpeJuly 28, 2020

Risk & Insurance

Treatment in lieu of lump sums for mental health claims: Hume

The Senator spoke of the growing challenge soaring mental health claims are presenting to the insurance industry, and said the government is “open” to looking at treatment and prevention funding in lieu of large lump sum payments.

Tahn SharpeJuly 27, 2020

Risk & Insurance

It’s not churn, it’s a pandemic

Clients are dialling back insurance because we're in the middle of a pandemic-fuelled recession. This has nothing to do with churning, advisers say, so why should they be penalised?

Tahn SharpeJuly 13, 2020

Risk & Insurance

Claims advocacy ripe for regulatory reform

It’s arguably the most important service an insurance adviser provides, yet there is no regulation around the provision of claims advocacy and it is rarely written into advice contracts.

Tahn SharpeMay 27, 2020

Risk & Insurance

Radical pandemic insurance plans being scoped by industry

A senate enquiry has revealed new pandemic insurance solutions are being sought by the industry, while ASIC has put pressure on insurers to show flexibility and compassion to consumers.

Tahn SharpeApril 28, 2020

Risk & Insurance

PI insurance woes to continue another 2 years

Finding PI insurance has never been tougher for AFSL holders, and the market is set to further harden before the cycle reverts. The reason is clear: “Losses, losses and more losses…”

Tahn SharpeFebruary 5, 2020

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