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Compare Life Insurance is a proud member of the Financial Services Online network, owned and operated by Clark Family Pty Ltd, A.C.N. 010 281 008 and we are committed to helping Australian individuals and businesses locate the best financial products, services, information and advice available via the internet.

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Life Insurance Articles


Insurance News

ASIC Calls on Insurers to Enhance Cyber Resilience in Response to AI-Driven Threats
ASIC Calls on Insurers to Enhance Cyber Resilience in Response to AI-Driven Threats
13 May 2026: Paige Estritori
The Australian Securities and Investments Commission (ASIC) has issued a stark warning to the insurance industry, emphasising the need for immediate action to strengthen cyber resilience in light of evolving artificial intelligence (AI) threats. In a recent open letter addressed to all Australian Financial Services (AFS) licensees, ASIC Commissioner Simone Constant highlighted that the advent of advanced AI technologies has fundamentally altered the cyber threat landscape, necessitating a proactive and disciplined response from insurers and brokers. - read more
HESTA Announces Significant Reduction in Insurance Fees for Members
HESTA Announces Significant Reduction in Insurance Fees for Members
13 May 2026: Paige Estritori
HESTA, a prominent Australian superannuation fund, has unveiled plans to decrease insurance fees for its members, with reductions averaging 12%. This initiative follows the renewal of HESTA's longstanding group insurance partnership with AIA Australia and is part of a broader strategy to provide more accessible and affordable insurance coverage. - read more
APRA Emphasises Need for Improved AI Risk Management in Financial Institutions
APRA Emphasises Need for Improved AI Risk Management in Financial Institutions
13 May 2026: Paige Estritori
The Australian Prudential Regulation Authority (APRA) has issued a call to action for financial institutions, urging them to implement more robust risk management and governance frameworks in response to the increasing integration of artificial intelligence (AI) technologies. This directive underscores the necessity for organisations to proactively address the unique challenges and risks associated with AI adoption. - read more
ACCC Flags Competition Concerns in IAG's Proposed Acquisition of RACWA
ACCC Flags Competition Concerns in IAG's Proposed Acquisition of RACWA
13 May 2026: Paige Estritori
The Australian Competition and Consumer Commission (ACCC) has raised significant concerns regarding Insurance Australia Group's (IAG) proposed acquisition of the Royal Automobile Club of Western Australia's (RACWA) insurance operations. This development has sparked a critical discussion about the future of competition within Western Australia's insurance sector. - read more

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Coinsurance:
A percentage of the cost of a covered healthcare service that you pay after you have paid your deductible.