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Showing 1 - 10 of 50 results for "Life Insurance Code of Practice"

ASIC, APRA slam premium hikes

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... articulate the different premium types and when these might increase," the regulators said. "The Life Insurance Code of Practice also requires life companies to explain how premiums may change at point of sale and each policy anniversary." Over the next ...

Treasury mulls reforming use of genetic test results by life insurers

JAMIE WILLIAMSON  |  MONDAY, 27 NOV 2023
... taking no action and allowing the use of genetic testing results to continue to be governed by the Life Insurance Code of Practice, now overseen by the Council of Australian Life Insurers (CALI), and the Disability Discrimination Act 1992. If there were ...

CALI takes on Life Code

CHLOE WALKER  |  THURSDAY, 28 SEP 2023
From tomorrow, the responsibility for the Life Insurance Code of Practice (Life Code) will transition from the Financial Services Council (FSC) to the Council of Australian Life Insurers (CALI). Launched last year, CALI is the brainchild of a collective ...

FSC releases claims handling standard for super funds

ANDREW MCKEAN  |  TUESDAY, 10 JAN 2023
... a voluntary compliance basis; full mandatory compliance will start July 1 in line with the new Life Insurance Code of Practice. The FSC said the new standard includes commitments for trustees to assist members in navigating the claims process. These ...

FSC adds to Life Insurance Code of Practice

CHLOE WALKER  |  TUESDAY, 25 OCT 2022
Several new consumer protections will be added to the Financial Services Council (FSC)'s Life Insurance Code of Practice, including the industry's first guidelines on family and domestic violence, as well as new protections in the genetics moratorium. ...

Life Code update expands consumer protections

JAMIE WILLIAMSON  |  WEDNESDAY, 22 JUN 2022
The latest iteration of the Life Insurance Code of Practice features more than 50 new consumer protections, including a ban on blanket mental health exclusions and greater limits on surveillance. The updated Code follows consultation with industry ...

Insurers to get new advocacy body

JAMIE WILLIAMSON  |  WEDNESDAY, 22 JUN 2022
... played a critical role in representing the sector and in the execution of key projects such as the Life Insurance Code of Practice and data collection and analysis initiatives. CALI said it will be seeking to take over future responsibility of the Code ...

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
... 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, it is ...

Life Code Compliance Committee chair named

ANNABELLE DICKSON  |  TUESDAY, 8 JUN 2021
... 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 ...
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