Who referees Insurance Brokers

The Australian Securities and Investments Commission ASIC are an independent Commonwealth Government agency who’s role include the licensing of  life or general insurance brokers. ASIC receives reports about delivery of life or general insurance products, an ASIC licensed Australian financial services (AFS) licence authorises licensees to provide financial product advice to clients. ASIC investigations has lead to at least six insurance professionals being banned or jailed in recent months. In the event of dispute 

AMP announces new Executive Team

AMP has released details of its new senior leadership team. AMP’s Chief Executive Craig Dunn said Axa Chief Financial Officer Geoff Roberts would relinquish his executive role but join the boards of AMP Life and National Mutual Life Assurance as a non-Executive Director. The only inclusion in Dunn’s senior leadership team is Darryl Mackay, the head of Axa chief executive Andy Penn’s office, who will become company secretary and head of secretariat, reporting

Jeff Haydn joins Ausure Financial Services

Ausure Financial Services (AFS), part of the Ausure Group, welcomes Jeff Haydn as their Operations Manager based at the Ausure Head Office in Cardiff, Newcastle. The Ausure Group received an extension to its Australian Financial Services Licence (AFSL) in March 2009 and set up Ausure Financial Services the same year. Echuca-based Director of Ausure Financial Services Tim Dale comments, “Ausure is the only  dealership group that I know of in Australia to provide its qualified Authorised Representatives the opportunity to offer both

What does all this insurance lingo actually mean?

Do you get confused by insurance jargon? Here are some abbreviations your insurance broker or insurer might use and what it all means: ACCC Australian Consumer and Competition Commission AFS Australian Financial Services APRA Australian Prudential Regulation Authority ASIC Australian Securities and Investments Commission CA Corporations Act 2001 FSG Financial Services Guide General Advice A statement of opinion or recommendation in general terms. ICA Insurance Contracts Act 1984 Intermediary A person who either acts for or on behalf of the client, or for or

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