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- Insurance
- 26/05/2026
- 10:25
Claims delays and communication gaps continue to affect insurance customers
The General Insurance Code Governance Committee (GICGC) has found that claims handling remains the largest source of non-compliance across the industry, with delays and communication issues continuing to affect customers at critical moments. Publishing its Annual Industry Data and Compliance Report (2024-25), theGICGC said claims handling accounted for the majority of reported breaches of the Code of Practice, with many breaches linked to delays in updates and decisions during the claims process. Chair of theGICGC, Veronique Ingram, said these delays can have a real impact on customers dealing with loss or disruption. “When customers make a claim, they are often…
- Insurance
- 11/05/2026
- 10:27
Fewer customers impacted by breaches, but claims issues remain a focus for life insurers
The Life Insurance Code Compliance Committee (LifeCCC) has found fewer breaches reported by insurers, as well as the lowest number of customers affected by breaches since the Life Insurance Code of Practice was first released in 2016. In its 2024–25 Annual Industry Data and Compliance Report, the LifeCCC reports encouraging progress across the industry, with reductions in overall breaches affecting large numbers of customers. However, the report also found that delays in income protection payments increased over the past year, highlighting ongoing challenges insurers have in meeting important commitments. Chair of the LifeCCC, Jan McClelland AM, said the reduction in…
- Business Company News, Insurance
- 04/05/2026
- 12:10
Guardian Insurance Brokers Named Large Brokerage of the Year for Second Consecutive Year
Key Facts: Guardian Insurance Brokers wins Large Brokerage of the Year award for second consecutive year from Insurance Business AustraliaAward evaluated excellence in client outcomes, retention, service, financial performance, growth and stakeholder engagementCEO Angelo Stathopoulos attributes success to client-first philosophy and long-term relationship building strategyCompany demonstrated strong performance through investment in talent, systems and advisory capabilityRecognition reflects consistent execution of fundamentals including clear advice, responsive service and strong insurer partnershipsAdelaide, SA – May 4 2026 – Adelaide-based Guardian Insurance Brokers has been named Insurance Business Australia’s Large Brokerage of the Year for the second consecutive year, reinforcing its position as…
- Insurance
- 17/04/2026
- 00:55
Coventry Ranks #1 in 2025 Life Settlement League Table Report
Coventry leads the secondary market in policy count, face value, and total amount paid to policyowners, reinforcing its position as the industry’s most active and consistent buyerFORT WASHINGTON, Pa., April 16, 2026 (GLOBE NEWSWIRE) -- Coventry, the leader and creator of the secondary market for life insurance and a pioneer of the life insurance-backed asset class, today announced that it remains the leading life settlement provider in the secondary market in terms of total policies purchased, total face value, and total amount paid to policyowners among reported providers. These results are reflected in Coventry’s newly released 2025 Life Settlement League…
- Banking, Insurance
- 26/03/2026
- 11:57
AFCA appoints Chief Scams Officer
The Australian Financial Complaints Authority (AFCA) has appointed David Lacey as its inaugural Chief Scams Officer (CSO). The Chief Scams Officer is a key…
- Contains:
- Human Resources, Insurance
- 19/03/2026
- 09:15
Spectrum.Life expands into Australia following the acquisition of MindFit at Work, We Lysn and Valion Health
Spectrum.Life Expands into Australia with Long Term Strategic Commitment. Following the acquisition of MindFit at Work, We Lysn and Valion Health Bringing a high…
- Contains:
- Insurance
- 17/03/2026
- 23:10
Akur8 Enters Life and Annuity Insurance Market with Strategic Acquisition of Slope Software
PARIS and ATLANTA, March 17, 2026 (GLOBE NEWSWIRE) -- Akur8, the leading Global Actuarial AI platform, announced today it has acquired Slope Software, a cloud-native, all-in-one actuarial modeling platform for life insurers and pension firms. The transaction expands Akur8’s offering beyond Property and Casualty (P&C) into the Life and Annuity (L&A) market, marking a pivotal milestone in its mission to serve actuaries worldwide with best-in-class tools and AI applied where they deliver the greatest impact.Built for total transparency and auditability, SLOPE is a fully hosted cash-flow modeling solution that supports projections across the policy lifecycle, from pricing and valuation to…
- Insurance
- 03/03/2026
- 10:28
Life CCC sanctions insurer for collecting medical information without valid consent
The Life Insurance Code Compliance Committee (Life CCC) has sanctioned aninsurer for collecting customers’ medical information without obtaining valid medical authority. Between March 2020 and March 2024, the insurer requested and collected medical information during underwriting without first obtaining consent using the prescribed authority wording. In total, 2,171 applications were affected, impacting more than 2,000 customers. Chair of the Life CCC, Jan McClelland AM, emphasised the seriousness of the breach. “Collecting medical information without valid consent is a serious failure of a fundamental customer protection under the Code,” Ms McClelland said. “Customers must clearly understand what medical information is being…
- Insurance, Mental Health
- 03/03/2026
- 09:00
Researchers unite with TAL and Workcom to strengthen support for Australians navigating mental health recovery
3 March 2026: The Digital Health Cooperative Research Centre (DHCRC), University of Sydney, TAL and Workcom have collaborated to improve the experience and recovery…
- Contains:
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