Submission on the draft Life Insurance Code of Practice by the Financial Services Council

On 8 September 2016, PIAC provided preliminary feedback on the Financial Services Council’s (FSC) draft Life Insurance Code of Practice. A number of critical matters raised in our submission to the Senate Economics Reference Committee on 22 April 2016 have not been adequately (or in some cases, not at all) addressed in the draft code. Our feedback emphasises the main areas for improvement and calls for further consultation with consumer representative organisations before the code is finalised.