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Showing 41 - 50 of 65 results for "Insurance Code of Practice"

Industry stakeholders welcome PC report

JAMIE WILLIAMSON  |  WEDNESDAY, 30 MAY 2018
... Finally, law firm Maurice Blackburn also issued a statement in regards to the PC's scathing review of the Insurance Code of Practice. The report acknowledges the code as a step in the right direction, but one that ultimately falls short of what is needed ...

Life insurance regulation needs government backing: Poll

KARREN VERGARA  |  WEDNESDAY, 2 MAY 2018
... by DST Systems, a large number of respondents (85%) want to engage with ASIC to strengthen the Life Insurance Code of Practice. About half (47%) said the industry should start working with the regulator now to improve provisions within the code. About ...

Lawyers slam life insurers in Royal Commission

KARREN VERGARA  |  FRIDAY, 6 APR 2018
... Lawyers' submission to the banking Royal Commission. There have been more than 700 breaches of the Life Insurance Code of Practice in the short time it took effect on 1 July 2017, Maurice Blackburn principal Josh Mennen said. The law firm detailed a ...

PJC doubts life insurance industry can self-regulate

KARREN VERGARA  |  WEDNESDAY, 28 MAR 2018
... definitions, customer communication timeframes and mental health - are either already included in the FSC Life Insurance Code of Practice or will be adopted in the second iteration. ASFA chief executive Martin Fahy also said many of the PJC's recommendations ...

FSC honours life insurance industry talent

KARREN VERGARA  |  WEDNESDAY, 21 MAR 2018
... Loane said: "Following significant change last year that saw the introduction of the first FSC Life Insurance Code of Practice, the life insurance industry continues to progress a strong consumer reform agenda in 2018." The awards recognise the significant ...

FSC and FOS appoint former ASX chief risk officer

ALEX BURKE  |  TUESDAY, 30 JAN 2018
... Ombudsman Service named the chair of 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 ...

FSC finalises life insurance APL guidelines

ALEX BURKE  |  FRIDAY, 22 DEC 2017
... payout ratios, pricing, and corporate strength)." The APL standard follows the FSC releasing its Life Insurance Code of Practice, along with a new set of standardised medical definitions, in July. The new definitions for cancer, heart attack and stroke ...

Industry split on life insurance cover: Poll

KARREN VERGARA  |  MONDAY, 18 DEC 2017
... operates alongside existing laws and regulations, as well as the Financial Services Council's Life Insurance Code of Practice, will come into effect on 1 July 2018. The code supports preventing account balances from unnecessary erosion by automatically ...

Super life code released

KARREN VERGARA  |  MONDAY, 18 DEC 2017
... in Superannuation Working Group is urging superannuation trustees to sign up to its voluntary life insurance code of practice, which will come into effect 1 July 2018. To eschew account balance erosion, super trustees under the code will contact members ...

Genetics will test life insurance sector

JAMIE WILLIAMSON  |  THURSDAY, 26 OCT 2017
... life insurance is unique, with local life companies abiding by the Financial Services Council's life insurance code of practice. This prohibits them from requiring applicants to take a genetic test and stops insurers discriminating against an applicant ...