- What New Regulator Guidance Could Mean for Cover
Australia’s life insurance sector has welcomed the Federal Government’s updated expectations for APRA and ASIC, a policy signal that could shape how insurers balance consumer protection, affordability and innovation.
- Longer Lives, Longer Illness: What It Means for Life Cover
Australians are living longer, but new industry research suggests many are also spending more years managing chronic illness. For households thinking about life insurance, that distinction matters.
- NEOS Underwriting Upgrade Points to Faster Cover Decisions
NEOS has moved further into digital underwriting with the implementation of UnderwriteMe’s Decision Studio, a technology designed to improve how medical data is captured and assessed across its life insurance products.
- What the Lead Generation Crackdown Could Mean for Life Cover
A fresh policy debate is emerging over how Australians are introduced to financial products, including life insurance. The Federal Government has been considering tighter controls on lead generation after concerns about poor conduct in parts of the financial services market, including the collapses of Shield and First Guardian.
- AFCA Upholds Insurer's Right to Adjust 'Level' Premiums
The Australian Financial Complaints Authority (AFCA) has recently dismissed a complaint concerning significant increases in 'level' life insurance premiums, underscoring the importance of policyholder awareness regarding premium structures.
- APRA and ASIC Highlight Urgent Need for TPD Insurance Reform
Australia's financial regulators, the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC), have recently convened a high-level industry roundtable to address mounting sustainability pressures in the Total and Permanent Disability (TPD) insurance market.
- Significant Rise in Delayed Income Protection Payments Raises Concerns
Recent findings from the Life Insurance Code Compliance Committee (Life CCC) have revealed a concerning 67% increase in breaches related to delayed income protection payments by life insurers.
- Significant Rise in Income Protection Claim Delays Raises Industry Concerns
Recent findings from the Life Insurance Code Compliance Committee (Life CCC) have revealed a concerning 67% increase in breaches related to delayed income protection payments by life insurers.
- APRA's Capital Reforms: Strengthening Retirement Income Products
The Australian Prudential Regulation Authority (APRA) has recently finalised amendments to its prudential standards concerning the capital treatment of longevity products, including annuities. This move is designed to strengthen the market for retirement income products, offering Australians more robust financial options in their later years.
- Regulators Call for Action on TPD Insurance Sustainability
Australia's financial regulators, the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC), have recently convened a high-level industry roundtable to address mounting sustainability pressures in the Total and Permanent Disability (TPD) insurance market.
- Zurich Australia's Strategic Acquisition of ClearView Wealth
In a significant move within the Australian life insurance sector, Zurich Financial Services Australia has announced its intention to acquire ClearView Wealth Limited. This acquisition, valued at approximately AUD 415 million, is set to bolster Zurich's footprint in the Australian market.
- APRA's Capital Reforms: A Boost for Retirement Income Products
The Australian Prudential Regulation Authority (APRA) has recently finalised amendments to its prudential standards concerning the capital treatment of longevity products, including annuities. This move is designed to strengthen the market for retirement income products, offering Australians more robust financial options in their later years.
- Surge in Mental Health Claims Reshapes Australian Life Insurance Landscape
Recent data reveals a significant shift in the Australian life insurance sector, with mental health-related claims now accounting for nearly half of all payouts. In 2024, life insurers disbursed a record $2.2 billion for claims associated with mental illnesses, marking a substantial increase from $1.2 billion five years prior.
- Cbus Penalised $23.5 Million for Delays in Processing Insurance Claims
In a significant development within the Australian superannuation sector, Cbus, one of the nation's largest super funds, has been ordered to pay a $23.5 million fine after admitting to breaches in the timely processing of death and disability insurance claims.
- Comprehensive 2025 Life Insurance Data Released by APRA and ASIC
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have jointly released the Life Insurance Claims and Disputes Statistics for the year ending December 31, 2025.
- TAL and Acenda Recognised in Money Magazine's 2026 Life Insurer Awards
Money magazine has announced the winners of its 2026 Life Insurance Awards, recognising outstanding performers in the Australian life insurance sector.
- Hostplus and MetLife Australia Extend Group Insurance Partnership
Hostplus has announced the extension of its group insurance partnership with MetLife Australia until June 2028. This continued collaboration aims to elevate service models across claims and underwriting, delivering stronger outcomes for Hostplus members.
- Zurich Australia's Strategic Acquisition of ClearView Wealth
In a significant move within the Australian life insurance sector, Zurich Financial Services Australia has announced its intention to acquire ClearView Wealth Limited. This acquisition, valued at approximately AUD 415 million, is set to bolster Zurich's footprint in the Australian market.
- Regulators Scrutinize Life Insurance Premium Practices
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have jointly released an update on their ongoing review of life insurance premium practices.
- Advocating for Equitable Mental Health Evaluations in Life Insurance
The Life Insurance Code Compliance Committee (Life CCC) has released a report highlighting ongoing concerns regarding how Australian life insurers handle applications from individuals disclosing mental health conditions.
- Australia Prohibits Use of Genetic Test Results in Life Insurance Underwriting
In a landmark move, the Australian Parliament has passed the Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Act 2025, effectively banning life insurers from using individuals' genetic test results in underwriting decisions.
- Call for Fairer Mental Health Assessment in Life Insurance Underwriting
The Life Insurance Code Compliance Committee (Life CCC) has released a report urging Australian life insurers to adopt fairer and more individualised approaches when assessing applications involving mental health disclosures.
- Significant Decline in Trauma Insurance Coverage Puts Australians at Financial Risk
Recent data from the Australian Prudential Regulation Authority (APRA) indicates a concerning 16% decline in the number of Australians holding trauma insurance policies over the past five years. This decrease, from 1.
- Escalating Insurance Premiums Pose Challenges for Australian Retirees
Australian retirees are facing mounting financial pressures as insurance premiums continue to rise, potentially turning their golden years into a period of economic hardship.
- Australian Life Insurance Market Experiences Notable Recovery
After enduring six years of decline following the Royal Commission, Australia's life insurance market has reported a significant 20.7% surge in new business volumes during the second quarter of 2025. This increase marks the first substantial recovery in the sector, suggesting a potential turnaround.
- Australia Enacts Ban on Genetic Discrimination in Life Insurance
In a landmark move, Australia has passed legislation prohibiting life insurers from using individuals' genetic test results in underwriting decisions. This reform aims to eliminate barriers that previously deterred Australians from undergoing potentially life-saving genetic testing due to fears of insurance discrimination.
- AIA Australia Highlights Impending Structural Changes in Life Insurance
Damien Mu, CEO of AIA Australia, has cautioned that the life and health insurance industries are on the brink of significant structural changes.
- Australian Life Insurers Achieve Significant Underwriting Gains in Q4 2025
The Australian life insurance sector has reported a substantial underwriting gain of $279 million for the December quarter of 2025, a significant improvement from the $36 million recorded in the same period the previous year.
