New Board Member At FASEA; APRA Mandates Changes To Insurance

The level of industry representation on the FASEA Board has been increased following Senator Jane Hume announcing that Will Hamilton would join the Board as a part-time Director earlier this week. In other regulatory news, the Australian Prudential Regulation Authority (APRA) has launched an intervention into the life insurance market in response to ongoing heavy losses in the sector in regard to individual disability income insurance (DII). The action includes ceasing the sale of Agreed Value policies.