An Inquiry is being conducted in to the Life Insurance industry.
The committee will report on:
- the need for further reform and improved oversight of the life insurance industry;
- assessment of relative benefits and risks to consumers of the different elements of the life insurance market, being direct insurance, group insurance and retail advised insurance;
- whether entities are engaging in unethical practices to avoid meeting claims;
- the sales practices of life insurers and brokers, including the use of Approved Product Lists;
- the effectiveness of internal dispute resolution in life insurance;
- the roles of the ASIC and the APRA in reform and oversight of the industry; and
- any related matters.
See the Senate Standing Committee on Economics’ home page.
On 29 March 2017, the Senate extended the reporting date from 30 June 2017 to 31 October 2017.
For a full summary of the issues, email us a request at [email protected]
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