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Financial Rights Legal Centre In The Media
Life insurance providers sweating on Trowbridge inquiry

THE AUSTRALIAN – by Andrew Main – Senior Business Reporter Australia’s Life Insurance industry providers will learn this morning what actuary and industry veteran John Trowbridge is recommending to overhaul the way life insurance is sold. Something had to happen because regulator ASIC last year handed down a scathing report on how life insurance is sold, finding that in many cases [ More ]

Aussie John contests data grab claims

Katherine Lane, the principal solicitor at the NSW Financial Legal Rights Centre warns consumers people to avoid the website by requesting their credit reports directly from credit reporting bureaus. She said that in privacy terms people using the site were paying a high price for a free report as they were likely to be bombarded with product offers. She also [ More ]

Life insurance report lacks imagination in failing to look beyond commission sales

Media Release The life insurance industry’s initial response to a damning report which revealed 37 per cent of all life insurance advice provided by Australia’s financial services licensees failed to comply with the law[1] appears unlikely to bring about sufficient change in how the industry does business. ASIC Report 413 suggested that the industry’s heavy reliance on upfront commissions[2] can [ More ]

Comparator websites under regulator scrutiny

Katherine Lane is quoted in an article asking how comparison websites are genuine comparator sites and how many are steering consumers into products with which the owners of the websites have commercial arrangements? A report by the Australian Competition and Consumer Commission (ACCC) into comparator websites says it has found websites that are potentially misleading or deceiving consumers. “Comparator websites [ More ]