On 26 June 2020, the Life Code Compliance Committee published its annual industry data and compliance report 2018-19.

The 2018–19 annual industry data and compliance report is a snapshot of the life insurance industry and its compliance with the Code for the reporting period. It includes data collected from Code subscribers alongside Committee compliance information for the year.

The report highlights how some life insurers may not be taking their obligations under the Life Insurance Code of Practice (the Code) seriously. 

A copy of the report can be found here.
 

Published: 26 June 2020

Media enquiries media@afca.org.au

About AFCA

The Australian Financial Complaints Authority (AFCA) is a non-government ombudsman service providing free, fair and independent help with financial disputes. It is a one-stop-shop for consumers and small businesses who have a dispute with their financial firm, over things such as banking, credit, insurance, advice, investments or superannuation. Where an agreement cannot be reached between parties, AFCA can issue decisions that are binding on financial firms.