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Life Insurance

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News
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10 March, 2021
APRA voices concerns over insurance in superannuation

APRA has written to life insurers and registrable superannuation entity licensees, urging them to address concerning practices in the provision of insurance

Tanaya Das
ASIC
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22 April, 2020
APRA and ASIC release data on life insurance claims and disputes

The Australian Prudential Regulation Authority (APRA) has published its Life Insurance Claims and Disputes Statistics,

Allyssa Hextell
COVID-19
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15 April, 2020
Co-ordination on life insurance for frontline healthcare workers

The ACCC has granted interim authorisation allowing life insurers to co-ordinate to ensure frontline healthcare workers are not excluded from coverage due to potential or actual exposure to COVID-19.

Allyssa Hextell
ASIC
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18 December, 2019
ASIC proceedings against TAL Life Limited for handling of insurance claim

ASIC has commenced proceedings in the Federal Court against insurer TAL Life Limited (TAL) for alleged breaches of the Australian Securities and Investments Commission Act (2001), the Corporations Act (2001) and the Insurance Contracts Act (1984).

Allyssa Hextell
ASIC
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4 December, 2019
ASIC announces ban on cold call sales of direct life insurance and CCI

ASIC has announced the implementation of a ban on unsolicited ‘cold call’ telephone sales of direct life insurance and consumer credit insurance (CCI). The ban will address poor sales practices that have led to unfair consumer outcomes and will take effect from 13 January 2020.

Allyssa Hextell
ASIC
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19 November, 2019
CommInsure to refund unfair life insurance telephone sales

Following concerns raised by the Australian Securities and Investments Commission (ASIC) about unfair telephone sales of life insurance, The Colonial Mutual Life Assurance Society Limited (trading as CommInsure) has conducted a remediation program.

Allyssa Hextell