Frank Crapis

Unintentional

Debate: Favouring IP over TPD

The following people met recently to discuss the sustainability of insurance. Jeff Humphreys, principal, CHR Consulting; Linda Winterbottom, senior rehabilitation specialist, CommInsure; Bernard O’Connor, company secretary, NGS; Helen Hewett, executive officer, Industry Funds Forum; Colin Cassidy national insurance manager, HOSTPLUS; Frank Crapis, head of industry funds, Comminsure; Margo Lydon, chief executive, SuperFriend and Russell Mason, […]
Roundtables

Tackling lawyer led insurance claims

Some of the most influential people in the group insurance space met in Sydney in March to discuss the sustainability of the sector. The group discussed initiatives to limit lawyer-led insurance claims and to improve data standards. The superannuation member who makes a total and permanent disability (TPD) claim through a lawyer and ends up […]
Investment Strategy

AustralianSuper moves to annual repricing of insurance

AustralianSuper is to renegotiate its group insurance on an annual basis, a move leading figures in the sector believe will become the norm for other superannuation funds. The appetite for writing new group insurance business has shrunk after one of the three big reinsurers, RGA, stopped pricing any new TPD business, while Swiss Re is […]
Roundtables

Insurance choices – a tough call for trustees

Come July 1, 2014 trustees are faced with an unpalatable choice caused by Australian Prudential Regulation Authority rules on what insurance they can offer. Either they give all members insurance in line with the regulations or they retain the existing offer for those who joined before that date and give the revised deal to new […]
Hedge Funds

Group insurance grapples with change

A combination of greater regulatory requirements, higher data standards and an increasing number of claims in group insurance have caused premiums to rise. According to a recent Conexus Financial/CommInsure roundtable, higher premiums are consequently here to stay. The Prudential Standard SPS 250 requires insurance records going back at least five years, covering claims, membership, the […]