In this edition of Wealth Matters Hoa Bui and Margaret Barrett describe the background to important research commissioned by the Financial Services Council (FSC) and performed by KPMG into Australia's life insurance claims experience.
With underinsurance such an issue in the Australian market, there is an ongoing need for better industry data and the FSC’s important contribution to the life insurance industry in sponsoring the first study of its kind is widely recognised by wealth managers.
The IASB has, to date, received 249 comment letters in respect of its insurance contract Exposure Draft.
As expected, there has been widespread concern expressed with the IASB’s proposals and a wide range of alternative approaches and solutions have been suggested.