NSW Budget Prioritizes Resilience, Aimed at Insurance Affordability NSW Budget Prioritizes Resilience, Aimed at Insurance Affordability
Thu, 20 Jun: The latest NSW budget signals a significant boost for improving insurance outcomes by heavily investing in resilience building and working towards emergency services levy reforms. - read more
Gen X's Struggle with Retirement Savings: A Battle Against Inflation and Debt Gen X's Struggle with Retirement Savings: A Battle Against Inflation and Debt
Thu, 20 Jun: A recent report by Natixis Investment Managers highlights that Generation X's retirement aspirations are being significantly hindered by financial pressures. The findings, derived from a collaborative survey with CoreData Research, underscore the impact of inflation and debt on this generation's financial stability. - read more
Australian Businesses Face Hefty Card Scheme Fees as Pressure Mounts for Transparency Australian Businesses Face Hefty Card Scheme Fees as Pressure Mounts for Transparency
Wed, 19 Jun: Rising service charges affecting Australian businesses have sharpened calls for increased transparency and regulation in the payment card industry. - read more
ASIC's Crypto Crackdown Intensifies: Appeals Federal Court Verdict ASIC's Crypto Crackdown Intensifies: Appeals Federal Court Verdict
Wed, 19 Jun: The Australian Securities and Investments Commission (ASIC) has escalated its efforts in regulating crypto-related activities by appealing a significant Federal Court decision. This move underscores the regulator's robust stance against crypto products circumventing financial regulations. - read more
RBA Holds Steady: Navigating Economic Uncertainty RBA Holds Steady: Navigating Economic Uncertainty
Wed, 19 Jun: The Reserve Bank of Australia (RBA) has opted to maintain the official cash rate at 4.35% for the fourth consecutive time this year, a decision that comes amidst a complex balancing act to manage inflation’s differential impacts on various demographics. - read more
Rising Concerns Over Retirement Savings: Australians Face New Financial Anxiety Rising Concerns Over Retirement Savings: Australians Face New Financial Anxiety
Tue, 18 Jun: Amidst numerous financial challenges, a prevailing concern is gripping the workforce of Australia – the fear that their retirement savings may not suffice. This sentiment is becoming increasingly common among the population. - read more
Victorian Insurance Premiums Spike Amidst Industry Turbulence Victorian Insurance Premiums Spike Amidst Industry Turbulence
Mon, 17 Jun: In the midst of considerable upheaval within the construction industry, the Victorian Managed Insurance Authority (VMIA) has revealed substantial hikes in its builders' warranty insurance premiums, effective August 6. These increments follow an unprecedented surge in claims settlements over recent months. - read more
Rising Mental Health Claims Signal Urgent Need for Tailored Workplace Solutions Rising Mental Health Claims Signal Urgent Need for Tailored Workplace Solutions
Mon, 17 Jun: In recent years, there has been a notable increase in mental health claims among employees grappling with heightened economic pressures and workplace challenges. Allianz, the country's largest workers’ compensation insurer, highlights a pressing issue: a 47.5% surge in active psychological claims, accompanied by a 30% hike in absence days due to mental health concerns from 2019 to 2022. - read more
Australians Embrace Cash: A Stand Against Digital Transactions Australians Embrace Cash: A Stand Against Digital Transactions
Mon, 17 Jun: In a surprising move, Australians have surged to ATMs nationwide, withdrawing significant amounts of cash. This act is part of a growing campaign challenging the dominance of card payments in today's financial landscape. - read more
High-Pressure Tactics: Fresh Alert on Superannuation Cold Calls High-Pressure Tactics: Fresh Alert on Superannuation Cold Calls
Sun, 16 Jun: Phone calls from unknown numbers have hit a new low, with an increasing wave of dubious cold-callers infiltrating the financial advice sector. - read more
Commonwealth Bank Adjusts Rate Cut Timeline Amidst Labor Market Trends Commonwealth Bank Adjusts Rate Cut Timeline Amidst Labor Market Trends
Sat, 15 Jun: As financial experts eagerly await the Reserve Bank of Australia's (RBA) upcoming board meeting, the Commonwealth Bank (CBA) has shifted its forecast regarding the advent of the next rate cut. Contrary to popular anticipation, the bank now predicts the rate cut will be delayed, posing less optimistic news for mortgage holders seeking financial reprieve. - read more
Life Insurers Aim for Harmony with Financial Advisers Life Insurers Aim for Harmony with Financial Advisers
Sat, 15 Jun: The Council of Australian Life Insurers (CALI) has reaffirmed that their primary focus is not to compete with financial advisers but to enhance the existing services in the life insurance sector. - read more
Upcoming Financial Year: Key Changes to Watch Out For Upcoming Financial Year: Key Changes to Watch Out For
Sat, 15 Jun: The new financial year commencing on July 1, 2024, promises a slew of pivotal adjustments impacting taxation, welfare, energy credits, and more. Individuals and businesses alike should prepare for these modifications to make the most of the financial opportunities arising from the changes. - read more
Super Gap: Women Still Far Behind in Retirement Savings Super Gap: Women Still Far Behind in Retirement Savings
Mon, 10 Jun: Recent investigations highlight a concerning disparity between male and female retirement nest eggs in Australia, spotlighting how women continue to lag by a substantial margin in superannuation savings as compared to men. - read more
Economy's Chill: Aussie Consumers Tighten Purse Strings Further Economy's Chill: Aussie Consumers Tighten Purse Strings Further
Sun, 09 Jun: The economic climate in Australia seems to be cooling down even further as new data reveals that consumer spending continues to contract sharply. This downturn indicates a deeper recession gripping Aussie households. - read more
NSW Braces for Continued Flooding Amid Unstable Weather NSW Braces for Continued Flooding Amid Unstable Weather
Sat, 08 Jun: The state of New South Wales (NSW) is grappling with significant flooding threats in the Hawkesbury-Nepean River region as meteorological conditions remain volatile, according to the Bureau of Meteorology's latest updates. - read more
Queensland's Incremental Approach to Workers' Comp Premiums Queensland's Incremental Approach to Workers' Comp Premiums
Wed, 05 Jun: Queensland has announced a 4% increase in workers’ compensation premiums for the upcoming financial year. Despite this rise, the state assures businesses that they will still enjoy some of the most competitive rates in Australia. - read more
Financial Advice Sector Seeks Fair Compensation Solutions Financial Advice Sector Seeks Fair Compensation Solutions
Wed, 05 Jun: The Australian Financial Complaints Authority (AFCA) recently announced the termination of Dixon Advisory’s membership effective from June 30, 2024. This announcement has sparked discussions among industry leaders regarding the compensation claims associated with the firm. - read more
Fraudulent Claim Sparks Financial Freeze Fraudulent Claim Sparks Financial Freeze
Wed, 05 Jun: A claimant's bank funds have been frozen following accusations of fraudulent activities involving counterfeit medical invoices. - read more
Student Loans Set to Rise Due to New Indexation Rate Student Loans Set to Rise Due to New Indexation Rate
Mon, 03 Jun: On June 1, millions of Australian university graduates will see an increase in their higher education loans due to the latest adjustment in indexation rates. - read more
Your Paycheck Boost: Fair Work Commission's Game-Changing Decision Your Paycheck Boost: Fair Work Commission's Game-Changing Decision
Mon, 03 Jun: Millions of Australian workers are on edge as they await Monday's crucial announcement from the Fair Work Commission. The highly anticipated decision holds the promise of substantial changes to the minimum wage, coming at a time when households are grappling with ongoing cost-of-living challenges. - read more
IAG Faces New Allegations Amid Loyalty Pricing Scandal IAG Faces New Allegations Amid Loyalty Pricing Scandal
Mon, 03 Jun: IAG, a prominent insurance provider, has announced its intention to contest a class action put forth by law firm Slater and Gordon in the Victorian Supreme Court. This lawsuit alleges that IAG misled customers by promising loyalty discounts on home and contents policy renewals that were not genuine. - read more
AFCA Rebukes IAG Over Mismanaged Flood Damage Claim AFCA Rebukes IAG Over Mismanaged Flood Damage Claim
Sun, 02 Jun: Insurance Australia Group (IAG) has been mandated to reexamine a denied claim and offer compensation to a driver whose 'vulnerable status' was overlooked. - read more
Investors Brace for No Rate Cuts Amid Inflating Prices Investors Brace for No Rate Cuts Amid Inflating Prices
Fri, 31 May: As Australia grapples with persistent inflation, financial analysts are sounding alarms for those who are already feeling mortgage pressure. New data reveals an uptick in inflation, putting the Reserve Bank of Australia (RBA) in a challenging position regarding interest rates. - read more
Insurers Accused of Exploiting Loyalty Insurers Accused of Exploiting Loyalty
Fri, 31 May: Slater and Gordon have initiated a class action against three well-known insurance companies, alleging deceptive practices that inflated premiums for loyal customers. This follows accusations against Insurance Australia Group (IAG) and Insurance Manufacturers of Australia, claiming they misled millions of customers. - read more