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Showing 1 - 10 of 94 results for %22Life Insurance Code of Practice%22

ASIC, APRA slam premium hikes

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... materials that 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." ...

Treasury mulls reforming use of genetic test results by life insurers

JAMIE WILLIAMSON  |  MONDAY, 27 NOV 2023
... government 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. ...

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 ...

Treasury to scrap advice admin burdens, boosts intra-fund advice

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
... for agents or employees of Australian Authorised Deposit-Taking Institutions (Recommendation 13.5) will also be removed. Life, general and consumer credit insurance commissions (Recommendations 13.7 - 13.9) will have to provide standardised consumer ...

FSC releases claims handling standard for super funds

ANDREW MCKEAN  |  TUESDAY, 10 JAN 2023
... commenced on 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. ...

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
... it has 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 ...

FSC names acting chief executive

KARREN VERGARA  |  THURSDAY, 16 DEC 2021
... reforms to make financial advice more accessible and affordable, and promoted the interests of superannuation and life insurance consumers by bringing an end to occupational exclusions in group life insurance policies," Bryant said. Loane finishes up ...

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 ...
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