Life Insurance Quotes Australia News

Risk brokers resent FOFA's 'one size fits all' - Jan 16, 2012
The risk insurance industry has been unduly impacted by the Future of Financial Advice (FOFA) changes because the Government has adopted a 'one size fits all' approach, according to the National Insurance Brokers Association (NIBA)...

Suncorp purchases AMP insurance business - Dec 06, 2011
Suncorp has purchased AMP's General Insurance Distribution (AMP GID), securing the business for Suncorp for the long term, the two groups announced today...

Insurance in superannuation - what is about to change? - Nov 14, 2011
Following the Government’s release of the Stronger Super information pack, Comminsure's Jeffrey Scott outlines some of the major changes about to happen with respect to insurance within superannuation...

Man accused of insurance fraud found not guilty - Nov 07, 2011
A Canberra teacher who was accused of asking his friend to burn a car in an insurance fraud has been found not guilty in the ACT Supreme Court...

Australia's life insurance gap expands as risk aversion increases - Swiss Re - Oct 25, 2011
The life insurance gap in Australia expanded from $540 billion to $927 billion between 2000 and 2010 – the fifth largest increase in the world, according to Swiss Re’s ‘Mortality Protection Gap: Asia-Pacific 2011’...

MLC launches new insurance offer - Oct 21, 2011
MLC has come out with a new insurance product, aptly named MLC Insurance, which marks the culmination of the company's integration with Aviva...

'Churning' defames advisers, says Synchron - Sep 19, 2011


Natural disasters hit Suncorp result - Aug 25, 2011
Natural disasters and other factors have served to significantly undercut Suncorp's annual result, with the company reporting an almost 36 per cent slump in net profit after tax of $453 million...

Carers welcome disability insurance pledge - Aug 22, 2011
People with disabilities and their families are celebrating the Productivity Commission's recommendation of a new $6...

AAMI closes down all branches - Jun 07, 2011
Australian insurer AAMI is closing all 24 of its branches within the next two months due to tight budgets and more customers doing business online...

Macquarie Life upgrades product and service offerings - May 30, 2011
As a result of product reviews and adviser feedback, Macquarie Life has announced a range of updates to its FutureWise and Macquarie Life Active products...

Risk insurance: understanding underinsurance - May 18, 2011
The recent natural disasters have highlighted the importance of insurance but, as Janine Mace discovers, the industry has a lot to do to tackle the underinsurance issue...

Brisbane businesses in flood insurance battle - May 09, 2011
The inquiry into Australia's most expensive natural disaster has completed its first week of hearings but there is no end in sight to the problems caused by south-east Queensland's floods...

CommInsure and Tower named life companies of the year - Feb 26, 2011
CommInsure and Tower have both been named the winners of the Association of Financial Advisers/Plan for Life 2010 Life Company of the Year Awards...

Standard ‘flood’ definition for insurance providers - Feb 21, 2011
In the wake of the Queensland floods, the Federal Government and Insurance Council of Australia (ICA) have agreed to develop a mandatory definition of ‘flood’ to be incorporated into current legislation...

Qld flood claims more than $1b - Jan 24, 2011
Insurers say they have received more than $1 billion worth of claims from Queensland flood victims.

The Insurance Council of Australia (ICA) say more than 31,000 claims worth $1...

Advisers make difference in life cover - Jan 24, 2011
There is a distinct difference in adequate levels of insurance between people who have received financial advice and those who have not, according to a new piece of research released by life insurer Asteron...

Insurance council rejects flood cover criticism - Jan 19, 2011
The Insurance Council of Australia has rejected complaints that flood policies are too complicated and is instead blaming customers for not reading their contracts...

Swan flags changes to flood insurance - Jan 17, 2011
Federal Treasurer Wayne Swan has foreshadowed changes to the insurance industry as part of the Government's response to the Queensland floods...

Small businesses underinsured during natural catastrophes - Jan 11, 2011
Up to half of small businesses do not have business interruption insurance despite it being basic cover that they all should have, according to Zurich national broker manager, general insurance, Keith Till...

Flood victims lodge thousands of insurance claims - Jan 04, 2011
A Queensland-based insurance company says it has already received 1,800 insurance claims across Queensland for flood damage...

Carers push for national disability insurance scheme - Dec 06, 2010
Carers of people with disabilities are using the International Day of People with a Disability to create awareness about the need for a national disability insurance scheme...

Exclusivity now binds AMP/AXA merger - Dec 01, 2010
AMP’s acquisition of AXA Asia Pacific has taken another step forward, with the signing of merger transaction documents that including exclusivity arrangements precluding AXA AP from dealing with other parties...

Confusion reigns for policy definitions - Nov 22, 2010
Conflicting opinions have emerged within the financial services industry about the concept of introducing standard definitions of critical illnesses for Australian life insurance products...

Insurers sweating on Treasury feedback - Nov 22, 2010
Insurers have called on Treasury to reveal some of its intentions concerning commissions for life insurance, saying more clarity is needed on the issue...

Tower announces acquisition bid - Oct 06, 2010
Tower has made an acquisition bid for 100 per cent of the shares in Fidelity Life Assurance Company. The offer was made in accordance with the New Zealand Takeovers Code and the earliest the offer can be formally posted is 15 October, 2010...

Risk advisers warn of fee sting at claim time - Sep 07, 2010
If risk insurance commissions are banned, most advisers believe they will have to charge a fee at claim time, according to a poll by Risk Info...

Direct life insurance on the rise - Aug 30, 2010
Directly marketed life insurance products seem to have picked up in popularity, with the sector posting an increase in sales of 27 per cent, according to Canstar Cannex research...

Online life risk portals a boost to consumer engagement - Aug 30, 2010
Online information portals could be powerful tools for advisers to engage their clients in the difficult discussion of risk insurance, and two such portals were recently launched in the same week...

Whatever it takes - Aug 24, 2010
The level of determination exhibited by National Australia Bank (NAB) in its long quest to gain control of AXA Asia Pacific suggests that there are those on the board and the executive of the big banking group for whom it is personal...

QBE half-year profit slides, as expected - Aug 20, 2010
Insurance company QBE has reported a 39 per cent fall in its half-year profit, because of continued volatility in global insurance markets and greater competition for new business...

Insurers look at Asian expansion - Aug 16, 2010
Life insurers looking to expand into Asia need to understand the different demographic drivers that create different insurance needs in the region, according to Chris Wei, AIA chief marketing officer and head of bancassurance and direct marketing...

Group life set to grow - Aug 16, 2010
The group life insurance sector is expected to be between 60 and 100 per cent bigger than today after five years, the Financial Services Council conference in Melbourne has been told...

QBE restructures - Aug 11, 2010
QBE has undertaken a restructure aimed at better reflecting its expansion into Europe and the Americas...

AXA’s parent agrees to NAB extension - Aug 11, 2010
The Australian Competition and Consumer Commission’s (ACCC's) announcement that it will consider National Australia Bank’s (NAB's) revised bid for AXA Asia Pacific revolving around its sale of AXA’s North platform to IOOF has had its corollary today, with AXA’s parent agreeing to a further negotiating extension...

Advisers remain central to insurance - Aug 03, 2010
Advisers will continue to play a key role in the insurance sector into the future, according to the chief executive of Tower Australia Limited, Jim Minto...

Standardised commissions canvassed - Aug 02, 2010
The possibility of standardised commissions has emerged as an option as major insurers have urged the Federal Government to act cautiously and consult widely on the Cooper Review’s proposed ban on insurance commissions within superannuation...

Ban on insurance commissions presents risk concerns - Jul 28, 2010
A ban on commissions on compulsory insurance in super is perhaps a good thing, but an outright ban on all commissions would be a massive threat to solving the underinsurance problem, according to Clearview Retirement Solutions’ head of life insurance Clive Levinthal...

IAG foreshadows profit slide - Jul 28, 2010
Insurance company IAG says its profit is likely to have halved last financial year after it was hit with claims worth more than $200 million from the massive storms that wreaked havoc in Melbourne and Perth earlier this year...

Zurich offers income protection up to age 70 - Jul 27, 2010
Zurich Financial Services Australia has introduced an income protection product that provides cover for people who plan to work up until the age of 70...

ALI partners with Metlife on mortgage insurance - Jul 27, 2010
ALI Group has formed a long-term strategic alliance with global life insurer Metlife under which Metlife will become the insurance partner for ALI Group’s new mortgage and loan protection products, ALI Group announced...

QBE slashes profit forecast - Jul 27, 2010
Insurance giant QBE has warned markets its profit is likely to be 40 per cent lower than last year, sending its share price tumbling...

No real beneficiaries of insurance ban apart from Government, says FPA - Jul 23, 2010
The Financial Planning Association (FPA) has found no evidence of mis-selling of life insurance that would justify a ban on commissions, stating that the only beneficiary of the ban would be the Government...

Winners and losers in life insurance - Jul 21, 2010
The risk insurance market continues to flourish in the current economic environment, while retirement income has recorded another 20 per cent fall in premium inflows over the past 12 months, according to newly released Plan For Life data...

Industry split over insurance commissions - Jul 15, 2010
The Federal Opposition is reserving judgement on the Cooper Review recommendation to ban insurance commissions while the financial planning sector battles it out with the super funds...

Chinese consortiums eye AIA takeover - Jul 14, 2010
At least four consortiums made up of private Chinese investors have approached US insurance giant AIG to acquire its Asian unit AIA, a Hong Kong newspaper reported on Tuesday...

Capital plan to buffer insurers - Jul 14, 2010
LIFE insurers could be forced to top up capital reserves to reflect higher rates of terrorism and pandemic diseases under proposals flagged by the financial regulator...

The price of protection - Jul 13, 2010
The Cooper review proposes removing the obligation on super funds to offer insurance options.

If you have the slightest interest in your retirement savings, and I hope you do, you will have heard about the big review into the superannuation system released last week...

QBE buys Belgian reinsurer for $397m - Jul 06, 2010
Insurance company QBE has bought the Belgian reinsurer Secura NV for about $397 million.

The latest acquisition forms part of QBE's strategy for global growth...

ING upgrades life insurance - Jul 05, 2010
ING Australia has launched an upgraded life insurance offering, with more than 60 enhancements across its coverage options and underwriting process...

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