Terms of Reference

The following matters were referred to the Parliamentary Joint Committee on Corporations and Financial Services for inquiry and report by 30 June 2017:

  1. the need for further reform and improved oversight of the life insurance industry;
  2. assessment of relative benefits and risks to consumers of the different elements of the life insurance market, being direct insurance, group insurance and retail advised insurance;
  3. whether entities are engaging in unethical practices to avoid meeting claims;
  4. the sales practices of life insurers and brokers, including the use of Approved Product Lists;
  5. the effectiveness of internal dispute resolution in life insurance;
  6. the roles of the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority in reform and oversight of the industry; and
  7. any related matters.

Committee Secretariat contact:

Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3583
Fax: +61 2 6277 5719
corporations.joint@aph.gov.au

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