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Search ResultsShowing 1 - 10 of 38 results for "Life Insurance Code of Practice"
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 ...
OnePath updates trauma definitions
KARREN VERGARA  |  MONDAY, 24 JUN 2019
... than 600 trauma definitions in a bid to be more customer-centric as part of its commitment to the Life Insurance Code of Practice. The review, which commenced in 2018, assessed more than 25,000 trauma policies to ensure the most up-to-date and optimal ...
FSC to enact binding standard on genetic testing
ELIZABETH MCARTHUR  |  TUESDAY, 19 MAR 2019
... rollout of new rules on genetic testing despite a delay. There had been plans to launch a new Life Insurance Code of Practice from July 1, but during the feedback period the Financial Services Council heard the code was not written in comprehensible ...
Harder for insurers to dodge claims
KANIKA SOOD  |  MONDAY, 4 FEB 2019
... codes of practices Another key recommendation is that Financial Services Council should amend the Life Insurance Code of Practice to allow the code's governance committee to impose sanctions on members that breach it. The report also asks for industry ...
FSC extends life code consultation deadline
KARREN VERGARA  |  THURSDAY, 24 JAN 2019
... 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 that include banning aggressive selling tactics ...
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