Search ResultsShowing 1 - 10 of 33 results for "Life Insurance Code of Practice"
Genetic tests no barrier to life insurance
ELIZABETH MCARTHUR  |  THURSDAY, 27 JUN 2019
... by 1 July this year." The moratorium will be regularly reviewed and will be included in the Life Insurance Code of Practice which is currently under review. The new moratorium will be in place at least until the end of June 2024 and reviewed in ...
OnePath updates trauma definitions
KARREN VERGARA  |  MONDAY, 24 JUN 2019
... 600 trauma definitions in a bid to be more customer-centric as part of its commitment to the Life Insurance Code of Practice. The review, which commenced in 2018, assessed more than 25,000 trauma policies to ensure the most up-to-date and optimal ...
FSC to enact binding standard on genetic testing
ELIZABETH MCARTHUR  |  TUESDAY, 19 MAR 2019
... rollout of new rules on genetic testing despite a delay. There had been plans to launch a new Life Insurance Code of Practice from July 1, but during the feedback period the Financial Services Council heard the code was not written in ...
Harder for insurers to dodge claims
KANIKA SOOD  |  MONDAY, 4 FEB 2019
... of practices Another key recommendation is that Financial Services Council should amend the Life Insurance Code of Practice to allow the code's governance committee to impose sanctions on members that breach it. The report also asks for ...
FSC extends life code consultation deadline
KARREN VERGARA  |  THURSDAY, 24 JAN 2019
... period for the second iteration of its life code until 31 January 2019. The draft FSC Life Insurance Code of Practice was first released for consultation in November 2018 , proposing 30 changes that include banning aggressive selling ...
FSC revamps life insurer code
KANIKA SOOD  |  MONDAY, 12 NOV 2018
The Financial Services Council has released a new draft life insurance code of practice that makes 30 changes to the code in place since 2017. The second iteration of the code aims to lift the standards in product design, sales, underwriting ...
Insurance shake-up puts clients first
KARREN VERGARA  |  TUESDAY, 2 OCT 2018
... chief executive Prue Willsford commends the steps the industry has taken to establish the Life Insurance Code of Practice. Willsford, who previously worked with the FSC and industry stakeholders to introduce fee disclosure in prospectuses ...
Royal Commission tables life insurance policy questions
KARREN VERGARA  |  THURSDAY, 27 SEP 2018
... Practice is sufficient to protect the interests of fund members. Further, they asked if the Life Insurance Code of Practice should be extended to update medical definitions be extended to products other than on-sale products. The Corporations ...
Give life code a chance, Loane tells Royal Commission
HARRISON WORLEY  |  FRIDAY, 21 SEP 2018
... shouldn't be placed in the same category as financial advisers. She said however the life insurance code of practice included provisions on how claims assessors should behave. Loane said if the code - which was introduced in 2016 - failed ...
FSC responds to direct life insurance findings
KARREN VERGARA  |  FRIDAY, 31 AUG 2018
... consumers outcomes. In response to the report ASIC handed down yesterday, the FSC said its Life Insurance Code of Practice has "lifted the bar" in the industry but concedes "there is still room for improvement." The FSC rolled out the code ...
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