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TAL retains EISS mandate
TAL has retained a key a group insurance mandate.
The big insurer has been reappointed by NSW energy industry fund, EISS as its insurance provider.
Confirming renewal of the mandate, EISS chief executive, Alex Hutchison said TAL had been selected as part of a very competitive process which gave rise to an impressive shortlist of participants.
TAL chief executive, Brett Clark noted that the insurer had now partnered with EISS for more than a decade.
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The $135 billion fund has transitioned away from TAL Life Insurance following an “extensive tender process”.
The $80 billion fund is facing legal action over allegedly signing up new members to income protection insurance by default without active member consent.
In a Senate submission, the Financial Services Council has once again called for further clarification that the government will assess the consumer outcomes of group insurance against the enshrined objective of superannuation.
TAL has launched a digital solution TAL Connect for its superannuation fund partners that links super and insurance for members, with Aware Super as its launch partner.
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