Labor says Australians could save thousands of dollars when seeking guidance on their retirement, life insurance and superannuation as it promises to slash red tape and bring in a new class of financial advisers who will provide simpler advice.
The Australian government yesterday announced the second tranche of its "Delivering Better Financial Outcomes" reforms to ensure Australians have access to quality and affordable financial advice.
Allianz Australia has entered into a partnership with the Royal Automobile Association of South Australia (RAA) in a deal worth A$$642m ($416m).
Tokio Marine Kiln (TMK) has appointed Ms Georgina Furness-Smith as cyber underwriter, effective 2 January 2025. In her new role, she will focus on further expanding TMK's presence in markets across the region, as well as maintaining and accelerating the cyber team's growth.
Australians are now almost three times more likely to insure their car instead of their biggest asset - themselves and their earning potential - with new research revealing a deepening national crisis in access to affordable financial advice.
The first half of 2024 saw a significant improvement in market competition and the return of insurer choice for buyers, from both existing insurers and new entrants, says Mr Scott Eccleston, head of global placement, Pacific, at global insurance broking giant March.
IAG, one of Australia's leading general insurers, and RACQ have announced that IAG will acquire 90% of RACQ's existing insurance underwriting business, with an option to acquire the remaining 10% in two years on consistent terms. The consideration amounts to A$855m ($555m).
The Senate Select Committee has presented its report on the "Impact of Climate Risk on Insurance Premiums and Availability" that contains recommendations that seek to address the immediate challenges of insurance unaffordability arising from climate risk, while providing longer-term solutions for communities.
The Australian government has announced a package of reforms in response to the feedback received from the "Superannuation in Retirement" consultation, to ensure the superannuation system will better support Australians' needs.
Jobs and Skills Australia (JSA) has retained its classification of financial investment advisers as being in shortage in 2024 in its latest Occupations Shortage List (OSL).