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Showing 21 - 30 of 35 results for "Life Code"

Every super fund should cover every occupation: FSC

KANIKA SOOD  |  FRIDAY, 13 AUG 2021
... 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, it is not for superannuation ...

Life Code Compliance Committee chair named

ANNABELLE DICKSON  |  TUESDAY, 8 JUN 2021
The Financial Services Council and AFCA have jointly appointed Jan McClelland as chair of the Life Code Compliance Committee (LCCC). McClelland has extensive board experience and is currently deputy chancellor at the University of New England, chair ...

Life insurers disregard code of practice

ELIZABETH MCARTHUR  |  MONDAY, 29 JUN 2020
The Life Code Compliance Committee has said that life insurers appear not to be taking their obligations under the Life Insurance Code of Practice seriously. The code came into effect in 2017, with the independent committee now publishing its second ...

Life insurers are doing their best: FSC

ELIZABETH MCARTHUR  |  THURSDAY, 12 MAR 2020
The Financial Services Council has responded to a largely damning report from the Life Code Compliance Committee, arguing it is silent on positive changes the industry has made. The report looked at cases dating back to June 2017 and found that timeframes ...

Life insurers breach own code consistently

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 MAR 2020
... the life insurance industry, saying insurers breached their Code of Practice hundreds of times in just six months. The Life Code Compliance Committee (LCCC) conducted an investigation and found many insurers breached their commitment to process insurance ...

OnePath receives first Life Code sanction

JAMIE WILLIAMSON  |  WEDNESDAY, 17 JUL 2019
OnePath is the subject of the first sanction to be issued by the Life Code Compliance Committee for failure to stop selling a non-compliant product and remediate customers by an agreed deadline. In July 2017 OnePath self-reported its ANZ Loan Protection ...

FSC extends life code consultation deadline

KARREN VERGARA  |  THURSDAY, 24 JAN 2019
The Financial Services Council is extending the consultation 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 ...

FSC revamps life insurer code

KANIKA SOOD  |  MONDAY, 12 NOV 2018
... goal is for the code to be registered with ASIC. The code is enforced by the AFCA-administered independent body called Life Code Compliance Committee. "Every aspect of the life insurance industry is under the microscope following the poor behaviour brought ...

Give life code a chance, Loane tells Royal Commission

HARRISON WORLEY  |  FRIDAY, 21 SEP 2018
Financial Services Council (FSC) chief executive Sally Loane equated removing the carve out of life insurance claim handling in the Corporations Act to using "a sledgehammer to crack a nut." Appearing before the financial services Royal Commission on ...

FSC and FOS appoint former ASX chief risk officer

ALEX BURKE  |  TUESDAY, 30 JAN 2018
... the committee tasked with overseeing the implementation of the Life Insurance Code of Practice. Anne Brown joins the Life Code Compliance Committee (LCCC) while also serving as a member of ASIC's markets disciplinary panel and a non-executive director ...