Consultation Response

Following the consultation period and the consideration of all submissions by the FSC, a response to consultation was released on the 6 November. A copy of the FSC’s response can be downloaded here.


FSC Life Insurance Draft Code of Practice

On Monday 12 November, the FSC released the new draft Life Insurance Code of Practice for public consultation. The draft Code will be open for consultation until 12 January 2019.  Download a copy of the Code and the consultation questionnaire.


About the Code

The Life Insurance Code of Practice is mandatory for all FSC member life insurers. The Code is enforced by the independent Life Code Compliance Committee which is administered by the new consumer complaints body, the Australian Financial Complaints Authority (AFCA).



FSC would like to thank the organisations that made a submission in response to its consultation on developing the Life Insurance Code of Practice.  The following were received with permission to make them public.

pdf ACBF Group Holdings Pty Ltd (ACBF)

pdf Association of Financial Advisers Ltd (AFA)

pdf Australasian Life Underwriting and Claims Association (ALUCA)

pdf Australian Financial Complaints Authority (AFCA)

pdf Australian Genomics Health Alliance (AGHA)

pdf Australian Institute of Superannuation Trustees (AIST)

pdf Australian Lawyers Alliance (ALA)

pdf Australian Prudential Regulation Authority (APRA)

pdf Australian Securities and Investments Commission (ASIC)

pdf Financial Services Council's letter in response to ASIC

pdf Financial Planning Association (FPA)

pdf Financial Rights Legal Centre

pdf Finder

pdf Legal Aid NSW

pdf Legal Aid QLD

pdf Life Code Compliance Committee (LCCC)

pdf Maurice Blackburn Lawyers

pdf Mental Health Australia

pdf Michael Molesworth

pdf Public Interest Advocacy Centre

pdf Slater and Gordon Lawyers

pdf Superfriend