22+ hour, 8+ min ago  (759+ words) After an insurance ombudsman service had recommended an insurer should pay 50% of a life insurance benefit from a policy the company had deemed as lapsed, the insurer subsequently decided that the fair outcome was to pay the claim in full....

1+ mon, 6+ day ago  (359+ words) Partners Life has announced Private Medical Cover premium increases taking effect from July 22. In an adviser update the insurer says that its most recent review of Private Medical Cover premiums will see: It says these changes will apply to new…...

1+ mon, 1+ week ago  (222+ words) MetLife in Australia is urging advisers to reconsider the role of trauma insurance, saying many Australians remain financially exposed to the impact of serious illness. Research commissioned by the insurer found half of working Australians do not have three months…...

1+ mon, 1+ week ago  (593+ words) After the Insurance and Financial Services Ombudsman Scheme obtained three prudent underwriting opinions regarding a life insurance complaint, the insurer changed its original position and agreed to reinstate the policy and pay the claim using a retrospective 50% loading. In a…...

2+ mon, 3+ day ago  (486+ words) AIA NZ has released its latest Claims Compass, reporting $790 million in total claims paid to more than 789,000 New Zealanders for the year ended December 31, 2025. The insurer says it accepted 91% of all claims received during the period. It paid: AIA NZ…...

5+ mon, 4+ day ago  (498+ words) Rising mental health claims are placing pressure on the sustainability of TPD insurance in Australia, prompting insurers, reinsurers, and regulators there to reassess product design and underwriting practices. Speaking during the first in a five-part Zurich Sustainability Round Table series…...

5+ mon, 2+ week ago  (354+ words) More than 100,000 complaints were lodged with the Australian Financial Complaints Authority in the last financial year, with just 2.4% relating to life insurance. During the year, AFCA reported that Australian clients were paid more than $390,000 in compensation with complaints spread across…...

5+ mon, 4+ week ago  (298+ words) The Australian life insurance sector continues to face systemic weaknesses in record keeping, policy design and claims handling according to the most recent Systemic Issues Insights Report published by the Australian Financial Complaints Authority. In Edition 7 of the series, covering…...