Risk Company and Regulatory Updates as at 21 February 2017

Company Updates

Chant West expands awards into advice services
Chant West has added an award category to its 2017 Awards, as Best Fund: Advice Services. 

TAL announces partnership with Qantas
Qantas Frequent Flyer members can now access TAL's insurance products via the airline's suite of travel and health insurance products. The Assure Life Protect products will be available, with requisite frequent flyer points available. 

MLC relocates headquarters in Melbourne and Sydney
MLC Life Insurance has relocated its Melbourne office to 727 Collins Street in the Melbourne CBD. Late last year, the Sydney office was relocated to 40 Mount Street, North Sydney. 

Suncorp optimising life business
Suncorp is commencing an optimisation program for its Australian life insurance arm to improve competitiveness and try to provide better customer outcomes. 

TAL adds more free courses and CPD points to Academy
TAL's new schedule for its Risk Academy adviser school boasts 33 courses with over 90 CPD points accessible across the curriculum. There are 10 new workshops and webinars, and courses available online or in person. Most courses are free, and accredited by the AFA, FPA and TPB. 

AIA Australia releases Vitality adviser materials
AIA Australia has developed a new range of tools, documents and videos for use during the advice process for advisers using the AIA Vitality wellness program. 

Regulatory Updates

ANZIIF launches training course with FSC for risk industry
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has developed a training course with the Financial Services Council (FSC) with compliance with the Life Insurance Code of Practice in mind. 

NAB's NULIS Nominees under investigation by ASIC
NULIS Nominees, NAB's superannuation trustee, was found to have charged 220,000 customers advice fees without them receiving advice, and 10 instances of insurance claims being denied or underpaid after an incorrect assessment. Licence conditions have been imposed.