Law, arguably more than many other professions, demands broad industry collaboration, not just among legal practitioners, but government and professional associations too.
Recognising the inherent benefits for individuals and their employers that industry-wide forums can provide in facilitating robust debate on emerging trends or issues, Turks has partnered with a number of associations and groups to sponsor several industry-leading Scholarships.
Turks is a client-centric firm and our culture starts and ends with delivering on our promises to our clients.
In dealing with our clients we are free from any sense of entitlement to ongoing work. Rather, trust and true partnership and the resulting opportunity for further collaboration are all earned on a daily basis. It is this approach which has allowed us to measure our clients’ time with us in generations rather than years.
We’ve talked about our client-focused culture and our drive to be great at our craft. To achieve this, we long ago realised that we needed to stand for something more than just commercial success. To this end, as a collective we have developed together a set of values and behaviours that guides us in our day-to-day activities and product offerings. These are not just words either. We live our values and passionately protect them.
The ALUCA Turks Life Insurance Scholarship supports the professional growth of ALUCA and its members by providing a significant career development opportunity for professionals working in the life insurance industry.
Summary
If you think the new Banking Code of Practice only affects the banks, think again! The code has far wider reach than the banking industry and may even lead to amendments to the Bankruptcy Act, causing ripples in the debt collection industry.
The Banking Code of Practice 2019 (‘Code’) commenced on 1 July 2019.
It is the first banking code considered and approved by ASIC. The Code is not compulsory upon the banks and it is up to the individual banks to adopt it. At present, 25 banks including all major banks have voluntarily adopted the Code.
Background
The licensees were licenced to provide general advice. They wrote to the members of their respective superannuation funds offering a free search for other superannuation accounts the customer might hold. A dedicated “Super Activation Team” then made telephone calls during which the customers, who may
or may not have accepted the free search offer, were offered a further service of arranging a rollover of external accounts to consolidate their funds.
Background
The increased frequency with which life insurers are sued before reaching a TPD decision has in recent times created a dilemma as to how insurers, who are simultaneously defending proceedings as well as trying to make a decision on TPD, should treat documents they seek under subpoena or other compulsory court process.
That is, can the insurer, as well as using such documentation in its defence of the proceedings, also consider such material in forming its opinion on TPD?
Background
You will recall that we have previously discussed the 2018 NSWSC TPD decision of MX v FSS & MetLife.
In that case, being a split TPD case dealing with stage one only, the NSWSC held that the insurer’s two separate TPD declines failed because:
Background
The TPD claim by the life insured, a former police officer, was brought in relation to both physical and psychiatric injuries. The life insured ceased work in February 2010 and her six months qualification period ended in October of that year. The claim was lodged in June 2011 and a decline decision was issued seven years later, in May 2018 (whilst court proceedings were on foot).
In the meantime, proceedings were commenced firstly in the Industrial Relations Commission in March 2014 but were transferred to the NSWSC by September 2015.