The Council of Australian Life Insurers (CALI) has reaffirmed its commitment to strong customer protections and continuous improvement.
It was in response to the independent review of the Life Insurance Code of Practice (Life Code), which Christine Cupitt, CEO of CALI called “central to continued trust between life insurers and the Australians they protect”.
““For the Life Code to remain strong, relevant and trusted, it must continue to meet the needs of Australians, keep pace with regulatory change, and reflect what the community expects from our industry,” said Ms Cupitt.
CALI’s response supports the evolution of the Life Code to provide the right protections for customers in an accessible, understandable way. This includes protections for people experiencing vulnerability, financial hardship, or mental ill-health.
The submission also highlights areas where clearer language, simpler structure and better alignment with the law could improve understanding, consistency and confidence for customers, without reducing existing protections.
More information about the Life Code review can be found here.