Industry super fund Vision Super has become the latest in a line of super funds to part ways with CommInsure, naming MLC Life as its new group insurer.
Effective 1 January 2018, the $8.75 billion industry fund Vision Super will end its relationship with CommInsure and enter into a three-year group insurance contract with MLC Life.
Vision Super was one of nine CommInsure clients to put the CBA-owned (soon to be AIA) insurer 'on notice' following allegations of unethical claims handling by Fairfax and the ABC in March 2016.
At the time, Vision Super issued a statement inviting any of its members who believed they had been treated unfairly by CommInsure to apply for review of their claim.
MLC Life is 80 per cent owned by Japanese insurer Nippon Life, with NAB deciding to lower its exposure to domestic life insurance in October 2015.
The COVID crisis has revealed how central banks have amplified wealth inequality in recent years, according to Schroders, with its head of A...