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Insurers launch product design offensive to offset wholesale price hikes

  • On 19/11/2014
While annual premium income in Australia’s group insurance market has grown over the past year from $4.1 billion to $5.0 billion at 30 June 2014, prices have shown a strong reversal to a downward trend over previous years. This pricing pressure trend has sparked a revival of insurance product innovation, along with some redesign trends beginning […]
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Where to for Australia’s retirement incomes policy?

  • On 05/11/2014
With the Financial System Inquiry (FSI) due to release its final report to the Treasurer within weeks, Rice Warner senior consultant Alun Stevens reaffirms the importance of superannuation funds delivering an effective, long-term default framework for retirement incomes. The much-anticipated final report of the Financial System Inquiry (FSI) is expected to be delivered to government […]
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The numbers behind superannuation’s fund choice leakages

  • On 25/10/2014
Rice Warner is putting the finishing touches on Part II of its inaugural Super Insights report, and the early findings give a window into the multi-faceted challenges facing Australia’s superannuation sector.   Super Insights derives from extensive data on some 9.1 million accumulation accounts, including retail, industry and public sector funds. Of particular interest in […]
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ASIC “Churn” report opens new questions on risk insurance advice delivery

  • On 22/10/2014
This month’s tabling of the much-awaited Australian Securities & Investments Commission (ASIC) report into personal advice on risk (life) insurance sales opens up a number of issues for the life insurance industry to consider.   Indirectly, the industry has been challenged to reinforce the fundamental need for appropriate, quality financial advice in respect of risk […]
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Watching the detectives: how superannuation fund administrators keep fraudsters at bay

  • On 09/10/2014
Perpetrators of fraud will generally seek and exploit any number of loopholes in order to scam money from their victims. In the superannuation arena, additional vigilance is needed to protect members from the threat of unwanted scams targeting the constant and attractive flow of Superannuation Guarantee monies.   The risk is constantly shifting. Indeed, new […]
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