Life insurance


March 20, 2017 7:47 AM | Posted by Batten, Richard | Permalink
October 19, 2016 9:19 AM | Posted by Batten, Richard | Permalink
The Government has released revised draft regulations for the Government’s life insurance remuneration reforms.  The draft regulations propose important changes, including extending the regime to almost any activity relating to the sale of life insurance. read more
October 13, 2016 3:33 PM | Posted by Batten, Richard | Permalink
The implications of ASIC'S report on life insurance claims are unlikely to be limited to life insurance. read more
October 12, 2016 3:13 PM | Posted by Batten, Richard | Permalink
Two recent developments will have a significant impact on the life insurance sector: the release by ASIC of its report on life insurance claims; and the reintroduction of the Life Insurance Framework bill into Parliament. read more
March 24, 2016 5:30 PM | Posted by Richard Batten and Justin Locke | Permalink
ASIC has made some important observations about conflicts management practices in the funds management sector which have broad relevance not confined to fund managers. read more
February 11, 2016 9:12 PM | Posted by Batten, Richard | Permalink
The Bill to introduce the Trowbridge reforms has been introduced into the House of Representatives.  The Bill does not include any fundamental changes to the Exposure Draft, a number changes have been made to refine or clarify the application of the regime. read more
December 15, 2015 12:39 PM | Posted by Batten, Richard | Permalink
ASIC has released its consultation paper on the implementation of the retail life insurance reforms which confirms the Government's proposals for commission caps and clawback arrangements and provides details of proposed detailed reporting requirements. read more
November 25, 2015 10:59 PM | Posted by Batten, Richard | Permalink
In a surprise move, the Senate has agreed to pass a cut-down version of the FOFA Streamlining Bill, but after the amendments made to the Bill in the Senate there is not much left of the Government's original streamlining initiative. read more
November 9, 2015 5:37 PM | Posted by Batten, Richard | Permalink

The Government has announced further details of the reform package for life insurance advice remuneration.  Key changes include delaying the start date to 1 July 2016 and making it clear the regime will apply to general advice.

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October 23, 2015 9:37 AM | Posted by Batten, Richard | Permalink
The release of the Government's response to the Murray Inquiry provides a roadmap for regulatory action affecting the sector over coming years and much needed certainty for industry. read more
October 20, 2015 8:29 AM | Posted by Batten, Richard | Permalink
The Government has released its response to the Financial System Inquiry's Final Report which includes specific measures which the Government plans to implement before the election and beyond. read more
July 30, 2015 4:15 PM | Posted by Pinar Ozer | Permalink
ASIC announced yesterday that it will now use its power to recover expenses and costs of its investigations.   read more
December 17, 2014 4:21 PM | Posted by Richard Batten | Permalink
Treasurer Joe Hockey and David Murray have released the final report of the Financial System Inquiry. In this short video, Richard Batten explains some of the elements of the report and its implications. read more
December 8, 2014 5:59 PM | Posted by Richard Batten, Stuart Johnson | Permalink
The Final Report of the Financial System Inquiry was released on the weekend. Here, we discuss key points arising from the Report and Mr Murray's speech to CEDA. read more
April 2, 2014 3:53 PM | Posted by Richard Batten, Tim Sutton, Thomas Ellicott | Permalink
Different regulatory regimes apply to life, general and private health insurers. Private health insurers are also have their own regulator, the Private Health Insurance Administration Council, whereas general and life insurers are overseen by APRA. Given that both regulators perform similar roles, there is potential for APRA to assume universal oversight of the insurance sector. read more
March 21, 2014 3:21 PM | Posted by Richard Batten, Tim Sutton | Permalink
In order to pre-empt the challenges and opportunities of the coming decades, the Financial System Inquiry will need to consider a number of significant trends. For example, the impact of China and other Asian countries as consumer economies is increasing. Our financial system will also need to be prepared for the oncoming demographic change in Australia's population.
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