The NFRA has released a draft regulation outlining rules for the asset management business of trust companies, including a proposal to let insurers sell trust asset management products.
Australia's Federal Court found that thousands of Cbus members faced lengthy delays in receiving death and disability benefits, with some claims remaining unresolved for over a year.
APRA’s new System Risk Outlook also highlights the growing impact of geopolitical threats, cyber, and system interconnectedness on Australia’s financial system.
The watchdog says unclear definitions and exclusions in travel insurance policies increase the likelihood of disputes between insurers and policyholders.
The renewed Grievance Mechanism Committee (GMC) will bring together medical, hospital, insurance and takaful associations to identify and improve systemic challenges in medical claims.
