We are pleased to announce that we are again able to accept external insurance policies with Retail Insurers under a reduced Approved Product List (APL).
In September AMG Super put new external insurance applications on hold as a result of recent legislative changes to Prudential Standard 250 requiring super fund trustees to receive regular service level reporting from Insurers with whom they hold policies.
Three retail insurers now have the ability to provide the required reporting to AMG Super and therefore Advisers are able to continue to write new policies with the following insurers:
This reduced APL will assist AMG and the insurers to provide a more personalised service, with a simpler and more efficient application process to launch in the near future.
In relation to existing external retail insurance policies with Insurers no longer on the APL, as they come to renewal AMG will be in contact with you to discuss options. In no case will a member lose their existing insurance.
Please note AMG Branded Insurance through Hannover Life Re remains unchanged.