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Showing 1 - 10 of 43 results for "Life Insurance Code of Practice"

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 ...

Life industry to launch framework

ANNABELLE DICKSON  |  WEDNESDAY, 21 APR 2021
... "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 for our customers ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... 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 2021. Any ...

MS sufferer fights CommInsure definition

ELIZABETH MCARTHUR  |  FRIDAY, 11 SEP 2020
... 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 upgrade ...

Law firm slams insurer mental health policies

ELIZABETH MCARTHUR  |  FRIDAY, 14 AUG 2020
... 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 when ...

Life insurers disregard code of practice

ELIZABETH MCARTHUR  |  MONDAY, 29 JUN 2020
... 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 annual report ...

Life insurers are doing their best: FSC

ELIZABETH MCARTHUR  |  THURSDAY, 12 MAR 2020
... cases dating back to June 2017 and found that timeframes for claim processing as outlined in the Life Insurance Code of Practice were not met. The review of 11 subscribers to the code's compliance came about after the LCCC received more than 700 alleged ...

Genetic tests no barrier to life insurance

ELIZABETH MCARTHUR  |  THURSDAY, 27 JUN 2019
... place by 1 July this year." The moratorium will be regularly reviewed and will be included in the Life Insurance Code of Practice which is currently under review. The new moratorium will be in place at least until the end of June 2024 and reviewed in ...
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