Richard Weatherhead

Investment Strategy

AustralianSuper spends to save on premiums

Sustainable group insurance is a scale game that needs significant resources, Richard Weatherhead, head of group insurance at AustralianSuper, told delegates at the Group Insurance Summit. He revealed how in the fund’s bid to weather a storm of rising claims, lawyer intervention in such claims and higher premiums it had raised the numbers employed in […]
Opinion

AustralianSuper negotiates early access to life insurance benefits

AustralianSuper has negotiated with its insurer to allow members early access to life insurance benefits, in addition to their super balance, in cases where they have less than 24 months to live. The fund’s decision follows recent government changes to regulations, which enable individuals certified to have a terminal medical condition, by two medical practitioners, […]
Opinion

Large supers in shopping spree for leading consultants

Large superannuation funds’ hiring spree of leading consultants has continued with the appointment of Andrew Baker of Tria to AustralianSuper. Over the past 18 months, Richard Weatherhead and Thierry Bareau have left Rice Warner to work on the group insurance offering of AustralianSuper, while Guy McAliece has left KPMG to join First State Super in […]
Investment Strategy

AustralianSuper adds Bareau to insurance team

Thierry Bareau is to join AustralianSuper in the new role of commercial manager, insurance on April 12. Bareau, who has held the role of head of insurance at RiceWarner, will work with insurers on renegotiating contracts, repricing and terms and conditions. A year ago Richard Weatherhead also left a consulting role at RiceWarner to join […]
Investment Strategy

Michael Dwyer calls for industry unity to save group cover

The survival of group insurance depends on funds, trustees, regulators and insurers working as a team, says Michael Dwyer, chief executive of First State Super, as none individually has the answer. The risk is that the youngest and healthiest members will exit insurance cover in response to large hikes in premiums, impacting further on the […]
Insurance

Insurance the next big
issue for trustees

Maintenance of insurance data will become “one of the biggest issues” for trustees in coming years, according to Richard Weatherhead, head of life insurance at Rice Warner Actuaries. Weatherhead says a combination of tightened regulation from the Australian Prudential Regulatory Authority (APRA), along with the provisions of the new MySuper legislation, will make insurance a […]
Investment Strategy

AMFS could halve transaction costs

  Industry-wide adoption of the Australian Securities Exchange (ASX) Managed Funds Service (AMFS) could save up to $215 million a year in transaction costs, according to Rice Warner Actuaries. A Rice Warner report, Managed Funds Transaction Cost Research: Impact of ASX Managed Funds Service, concludes that the service could lead to savings of between 35 […]