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Showing 11 - 20 of 95 results for %22Life Insurance Code of Practice%22

Updated life code released

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 AUG 2021
The Financial Services Council (FSC) released the second draft of the Life Insurance Code of Practice 2.0 for public consultation. The latest draft of the code was released today, incorporating feedback from the first draft's consultation. The FSC has ...

Every super fund should cover every occupation: FSC

KANIKA SOOD  |  FRIDAY, 13 AUG 2021
... First, is to implement a prohibition on these terms on life insurers through an appendix to the FSC's Life Insurance Code of Practice (Life Code). It said the complexity here is that while the Life Insurance Code is mandatory for all group insurers ...

Life Code Compliance Committee chair named

ANNABELLE DICKSON  |  TUESDAY, 8 JUN 2021
... LCCC was established in 2017 and is the independent body responsible for overseeing compliance with the FSC Life Insurance Code of Practice. It is the industry's first consumer facing code designed to promote high standards of service and provide a benchmark ...

Life industry to launch framework

ANNABELLE DICKSON  |  WEDNESDAY, 21 APR 2021
... minimum standard. "This Professional Standards Framework sits alongside the industry commitments set out in the Life Insurance Code of Practice, which together, put in place important long-term commitments by the life insurance industry to delivering ...

Risk advice most sought-after among Kiwis

KARREN VERGARA  |  THURSDAY, 15 APR 2021
An overwhelming 70% of products that New Zealand financial advisers recommend are life insurance products, according to the country's financial markets regulator. New statistics released by the Financial Markets Authority (FMA) reveals that risk products ...

Underinsurance gap worsens: Research

KARREN VERGARA  |  FRIDAY, 20 NOV 2020
... contributed to more Australians being underinsured. This includes the Insurance in Super Voluntary Code of Practice, Life Insurance Framework reforms, Protecting Your Super (PYS)/ Putting Members' Interests First (PMIF) legislation and COVID-19 ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... given the power to approve and revoke voluntary codes of conduct. This includes certain provisions in the Life Insurance Code of Practice and the Insurance in Superannuation Voluntary Code. It is recommended that they are made enforceable by 30 June ...

QInsure ramps up claims technology

KARREN VERGARA  |  THURSDAY, 22 OCT 2020
... globally. QInsure went live with FINEOS Claims in September 2019, which integrated and automated the workflow for claims across life, total and permanent disability (TPD), and income protection. Some of the functionalities included calculating payments ...

MS sufferer fights CommInsure definition

ELIZABETH MCARTHUR  |  FRIDAY, 11 SEP 2020
... medical definitions ahead of each PDS update - this is more frequent than the 3-year requirement set out by the Life Insurance Code of Practice. At Integrity, when we update a definition and the update is more favourable to policy holders, we automatically ...

Law firm slams insurer mental health policies

ELIZABETH MCARTHUR  |  FRIDAY, 14 AUG 2020
... about rehabilitation and treatment." She added that there are still insurers that do not comply with the FSC Life Insurance Code of Practice. "These are often people who have been paying premiums for years and they are entitled to receive their benefits ...