Cooper defends BT life insurance figures
BT Financial Group chief executive Brad Cooper has defended BT's life insurance arm after it was revealed the 37% TPD denial rate highlighted in ASIC's industry review came from his company.
Last week, ASIC came out with its review of life insurance claims, finding "considerable variation" in denied claims across life insurers. The regulator did not identify the companies responsible for specific figures, partly because, as ASIC deputy chair Peter Kell explained, standards of claims reporting are different between insurers; in fact, he said there is "next to no information at present."
Read the full story at Financial Standard.