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.