Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 10 of 10 results for "genetic testing"

Treasury mulls reforming use of genetic test results by life insurers

JAMIE WILLIAMSON  |  MONDAY, 27 NOV 2023
Treasury is calling for feedback on the use of genetic testing in life insurance underwriting, citing concerns the existing moratorium is ineffective, negatively impacting medical research efforts, and a lack of compliance from insurers. The government's ...

Genetic tests no barrier to life insurance

ELIZABETH MCARTHUR  |  THURSDAY, 27 JUN 2019
A moratorium on genetic testing in the life insurance industry means that Australians can get up to half a million dollars of life cover without disclosing genetic tests. The Financial Services Council approved a moratorium on genetic tests in life ...

FSC to enact binding standard on genetic testing

ELIZABETH MCARTHUR  |  TUESDAY, 19 MAR 2019
The life insurance industry is pushing ahead with the 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 ...

Stop genetic testing questions: Poll

KARREN VERGARA  |  TUESDAY, 20 NOV 2018
... result will no longer prevent anyone taking out life insurance, she added. According to comparison site Finder, genetic testing can have a "significant impact" on life insurance policies. "When you take out a life insurance policy, including disability ...

Life insurers fear genetic testing changes

KARREN VERGARA  |  FRIDAY, 2 NOV 2018
Majority of life insurance companies fear the availability of genetic testing to consumers will be more disadvantageous and complex, and will have a negative impact on their business, a new survey shows. Strategic Insights' survey of retail, direct ...

Genetics will test life insurance sector

JAMIE WILLIAMSON  |  THURSDAY, 26 OCT 2017
Increased affordability of genetic testing and rising public interest in ancestral lineage and health could threaten Australia's life insurance industry, according to the Actuaries Institute. The latest paper from the industry body suggests that even ...

Insurers: beware the double-edged sword of genetic testing

ALEX BURKE  |  THURSDAY, 30 MAR 2017
... master of Sydney Medical School's Genetic Counselling Program Kristine Barlow-Stewart said that while the cost of genetic testing has come down in recent years and accessibility has gone up, there is also a marked increase in consumer fears about being ...

Most life insurance consumers open to genetic testing

ALEX BURKE  |  FRIDAY, 7 AUG 2015
A majority of consumers would accept genetic testing for detecting life-threatening conditions as part of their risk assessments for life insurance, research found. A recent survey of 134 insurance employees and their personal contacts by global life ...

Bad genes won't hurt insurance

MICHAEL HOBBS  |  TUESDAY, 29 APR 2008
... rates. In Australia, Phil Collins, International Underwriting Services (IUS) general manager of life said that genetic testing would not be an issue for group insurance, but perhaps an issue in the retail space. "If an insurer were to give the member ...

Consumer watchdog signals two-year ban on genetic testing

AAP  |  THURSDAY, 9 OCT 2003
... consumer watchdog today indicated it would approve a two-year ban on life insurance companies asking clients to have genetic testing. The Australian Competition and Consumer Commission (ACCC) said it wanted to give insurers and the government time to ...
PAGE:
1