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The issue of what information people provide when applying for life insurance cover is something which has been in the mainstream media recently with the Croft case and over the past week another case involving right-wing blogger Whale Oil. This week the Insurance Ombudsman is suggesting the whole process needs to change.

Also in the Good Returns news is a piece about Southern Cross looking to extend its services and provide critical illness cover. No doubt that would shake up the current market place.

Elsewhere on the site we have plenty of information to help you understand how regulation will affect advisers and their businesses.

Insurance News

Ombudsman wants change to disclosure rules
Legislative change around insurance policy disclosure needs to be put back on the agenda to prevent more consumers inadvertently falling foul of the rules, according to Insurance and Savings Ombudsman (ISO) Karen Stevens. More

Southern Cross looks to offer critical illness cover
Southern Cross Medical Society is considering extending its product range to provide critical illness cover. More

Costs mount up for regulation
Authorised financial advisers (AFAs) will have to pay a minimum of almost $3,000 to comply in the first year of regulation, according to figures compiled by the Institute of Financial Advisers (IFA). More

Minimum competency standards are only the beginning
The minimum competency standards for financial advisers are only the beginning to get the ball rolling and future changes are on the horizon, according to the Code Committee. More

Competency standards need practical element
The minimum competency standards for financial advisers need to have a practical element and newcomers to the profession would benefit greatly if they had to go through a mentoring process, according to a past president of the Institute of Financial Advisers. More

Opinion: Russell Hutchinson

Questions, questions
The top five questions life advisers should be asking their insurers about compliance. More