TWUSUPER has extended its insurance mandate with CommInsure for a further three years, with improved cover for members.
Members will now receive more total and permanent disablement (TPD) cover, with basic TPD cover increased from one to two units. Members will also have the option to further increase both their death and TPD cover from the current two units to three.
The deal encompasses other improvements, including the introduction of lifetime event cover, a loyalty bonus, improved TPD definitions and maximum cover levels, CommInsure stated.
TWUSUPER chief executive Bill McMillin said the changes will offer fund members better value and greater cover, enabling members and their families to be better protected.
The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.