27 March 2018
© Commonwealth of Australia 2018 ISBN 978-1-76010-750-5
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Duties of the committee Terms of reference Conduct of the inquiry Structure of this report Acknowledgements Notes on references
Introduction Nature of the life insurance industry Regulation of life insurance Previous inquiries, reviews, reforms and events Red tape reduction
Introduction Australian Consumer Law Life insurance consumer protections Life insurance exemptions from consumer protections Committee view
Introduction Financial services codes of practice Life insurance codes of practice Evidence received on life insurance codes of practice Committee view
Introduction Remuneration, commissions, payments and fees in the life insurance industry Shelf space fees and training fees Committee view
Introduction The nature of APLs Arguments supporting the use of APLs Arguments for widening or banning APLs Committee view
Introduction Opt-out versus opt-in requirements Inadequate member awareness of cover Duplicate group life insurance accounts Committee view
Background Privacy framework Authorisation to access medical information Arguments for a broad authority to access medical information Arguments against a broad authority to access medical information Committee view
Genetic information and the life insurance industry in international jurisdictions Genetic information and the life insurance industry in Australia Arguments for reform Committee view
Introduction Oversight of claims handling practices A policyholder's right to reasons where a claim has been denied Inconsistency in claims handling data Definitions in insurance policies Mental health claims Delays Independent medical examiners Underwriting direct insurance Legacy products Early intervention—rehabilitation payments
Committee SecretaryParliamentary Joint Committee on Corporations and Financial ServicesPO Box 6100Parliament HouseCanberra ACT 2600 Phone: +61 2 6277 3583corporations.joint@aph.gov.au
An inquiry into the life insurance industry
01 Dec 2017: 08 Sep 2017: Canberra18 Aug 2017: Canberra
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