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News
Unnamed life insurer sanctioned over 10,105 breaches
1+ week, 3+ day ago (438+ words) Home > Life Insurance > Unnamed life insurer sanctioned over 10,105 breaches Managing Editor and Publisher A major life insurer has not been named despite the Life Code Compliance Committee (LCCC) sanctioning it for failing to meet its commitments leading to “inaccurate, incomplete and…...
Life CCC sanctions insurer over inaccurate and delayed annual notices
1+ week, 4+ day ago (534+ words) The Life Insurance Code Compliance Committee (Life CCC) has sanctioned a life insurer after more than 10,000 breaches meant customers received annual notices that were inaccurate, incomplete or issued late. Between August 2024 and January 2026, the insurer failed to include relevant policy benefits,…...
Ethika Insurance Broking: 10 Years, 50,000 Claims, Their Unbelievable Secret.
1+ mon, 5+ day ago (86+ words) ...
Record AFCA complaints mask a worse story in insurer compliance data
1+ mon, 1+ week ago (730+ words) Insurance Business Record AFCA complaints mask a worse story in insurer compliance data Claims handling failures were accumulating well before policyholders reached the ombudsman Rejection of claim complaints for comprehensive vehicle insurance rose 47% in 2025-26, superannuation insurance claim rejection complaints climbed…...
Prudential Life Insurance to fundamentally reform compensation system
1+ mon, 2+ week ago (148+ words) Nikkei Asia Prudential Life Insurance to fundamentally reform compensation system Japanese affiliate of US giant makes move after customer exploitation scandal TOKYO -- Prudential Life Insurance has decided to abolish a salary system that leans heavily on commissions, Nikkei learned on…...
Prudential Life Insurance Fraud Losses Reach ¥2.2 Billion as 125 Additional Victims Identified — BigGo Finance
1+ mon, 2+ week ago (390+ words) Prudential Life Insurance's compensation committee of external experts announced on the 24th that it has certified an additional 125 victims, with total losses of approximately ¥790 million ($4.8 million). This brings the total certified damages at the company and its group affiliate Gibraltar Life…...
One Inc and CalcFocus target friction in life insurance pay
1+ mon, 3+ week ago (257+ words) One Inc, a digital payments network for the insurance industry, has entered a strategic partnership with policy administration provider CalcFocus to help life insurers modernise premium collections and improve the policyholder payment experience. The partnership will integrate One Inc’s PremiumPay…...
Prudential Hits Employees With New Layoffs Amid $1 Billion Global Misconduct and Sales Ban Disaster
3+ mon, 1+ week ago (728+ words) Prudential Financial will cut a further 53 jobs in Newark, New Jersey, on 17 July, according to a state filing, as the insurer battles the fallout from a $1 billion hit linked to misconduct at its Japan affiliate and an extended sales ban....
Prudential announces more layoffs as insurer continues to restructure
3+ mon, 1+ week ago (447+ words) Prudential Financial is undergoing another round of layoffs as the company continues to evolve in Year Two under CEO Andrew Sullivan. According to a filing with the New Jersey Department of Labor and Workforce Development, Prudential is laying off 53 employees…...
Prudential Life pegs client compensation at ¥4.7 billion
3+ mon, 2+ week ago (660+ words) Insurance Business Prudential Life pegs client compensation at ¥4.7 billion Regulator widens probe as employee fraud count tops 100 Prudential Life Insurance Co. is facing a ¥4.7 billion compensation bill after an internal review confirmed that more than 100 current and former employees took…...