APRA: managing climate risk obligatory
/Taking climate change into consideration is now part of financial institutions' fiduciary obligations.
Read MoreRisk Company and Regulatory Updates as at 21 February 2017
/- Chant West expands awards into advice services
- TAL announces partnership with Qantas
- MLC relocates headquarters in Melbourne and Sydney
- Suncorp optimising life business
- TAL adds more free courses and CPD points to Academy
- AIA Australia releases Vitality adviser materials
- ANZIIF launches training course with FSC for risk industry
- NAB's NULIS Nominees under investigation by ASIC
Balloon experiment illustrates lack of understanding of risk
/An experiment at the beach demonstrates beautifully how our financial decisions can result in regret, but that comes from not understanding our risks properly.
Read MoreRisk Company and Regulatory Updates as at 7 February 2017
/- AIA Australia enhances its health program for advisers
- Infocus signs up new advice firm
- HNW advice groups merge
- AFA's Genxt roadshow kicks off
- Banks to conduct background checks to weed out bad advisers
- NAB's super fund trustee company with incorrectly applied claims, millions overcharged
Risk People as at 7 February 2017
/- NAB FP appoints two executives
- Jim Minto new chair of NZ life insurer
- MLC Life Insurance adds five to retail advice team
- Zurich appoints national insurance sales manager
Study finds consumers still rejecting advice on insurance
/A survey finds consumers prefer finding information and buying insurance online, over seeing an adviser.
Read MoreFOS wants FSC code to be consumer-friendly
/The FOS has suggested that the FSC Code of Practice should be easier to read and understand.
Read MoreRisk Product, Company and Regulatory Updates as at 24 January 2017
/- New app for clients to see snapshot of financial position
- ClearView and Sony Life sign agreement
- CommInsure wins NFS mandate, loses TWUSuper
- Bridges acquires Heritage Bank advice firm
- Omnium and YTML sign technology partnership deal
- CPA introduces new financial planning subjects
Risk People as at 24 January 2017
/- MLC Life Insurance appoints six to bancassurance
- ClearView appoints head of product
- Total Financial Solutions appoints new executives
- TAL receives national award for gender equality
Global credit card numbers are changing: we're running out of the first six digits
/The numbering system for credit cards is running out of the first six digits. A new system is coming in for 2017.
Read MoreFOS names insurers with highest likelihood of disputes
/FOS has released its 2015/16 likelihood ratings for disputes with specific insurance companies.
Read MoreAligned advisory firms could pay millions in fee for no service claims
/Any financial institution or its advisory practices found to have been charging advice fees without providing advice may be required to refund or compensate clients.
Read MoreNew underwriting service launched
/An innovative new underwriting service aims to cut out the labourious process of applying to each insurer one by one.
Read MoreFPA members skip fees opt-in every two years
/ASIC has, for the first time, approved a code of conduct to avoid regular opt-in requirements for fee renewals.
Read MoreRisk Product Updates as at 29 November 2016
/- IA expands online claims system for employers
- AMP Flexible Lifetime - Protection and AMP Elevate product updates
- Product and service enhancements, price increases, to CommInsure Protection
Risk People as at 28 November 2016
/- NAB Financial Planning culls junior advisers
- 2016 FPA Awards
- Beddoes Institute Consumer Choice Awards
Life insurance satisfaction declining, but Asteron Life way out in front
/Life insurance satisfaction is down, though Asteron Life is up 10 percentage points, taking out the top place for customer satisfaction.
Read MoreRisk People as at 10 November 2016
/- MLC expands group insurance team
- Zurich appoints a new non-executive director
- Strategic Insight (Plan For Life) DIrect Life Insurance Awards
- FPA Awards
Risk Product and Company Updates as at 10 November 2016
/- ANZ: OneCare discount offer extended, enhancements
- MLC and NAB increase distribution of NAB Essentials Life
- AMP and Munich Re deal
- Cardena joins Fortnum
- AZ NGA's Logiro acquires two new companies
- HLB Mann Judd launches debt advisory business
FSC's Life Code of Practice
/A brief overview of the FSC's Code of Practice plus a link to download.
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