The pandemic's economic and social impact are likely to surge in the coming months in spite of the number of claims directly related to infection with Covid-19 being minimal, MLC Insurance's Sean Williamson points out.
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 […]
In the first of a series of how to guides for super funds Alastair Adamson, consultant at Rice Warner, walks through the steps they need to take to ensure the lowest possible premiums when renegotiating their group insurance package. Over the last couple of years wholesale premiums have sky rocketed, and will continue to do […]
Over the past few years several direct insurers and reinsurers have exited the superannuation market in Australia over high claims and concerns over poor data, which has done little to help the reduced but still persistent life underinsurance gap. This exit has caused a lack of capacity, particularly reinsurance capacity, and is the biggest problem […]