Commercial Property Insurance Online :: News
SHARE

Share this news item!

Australian Life Insurers Advocate for Evolution of Code of Practice to Meet Consumer Needs

Industry Supports Updating Life Insurance Code to Reflect Regulatory and Consumer Shifts

Australian Life Insurers Advocate for Evolution of Code of Practice to Meet Consumer Needs?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Australian life insurers are advocating for the evolution of the Life Insurance Code of Practice to keep pace with regulatory changes and shifting consumer expectations.
The Council of Australian Life Insurers (CALI) has emphasised the importance of the code in maintaining trust between insurers and the Australians they protect.

Christine Cupitt, CEO of CALI, stated, "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." This sentiment underscores the industry's commitment to adapting its practices to better serve consumers.

The Life Insurance Code of Practice sets enforceable conduct and best practice benchmarks for the industry. As consumer needs and regulatory landscapes evolve, insurers recognise the necessity of updating the code to provide appropriate protections, especially for individuals experiencing vulnerability, financial hardship, or mental ill-health.

For policyholders, this initiative signals a proactive approach by the life insurance industry to enhance transparency, fairness, and responsiveness to consumer needs. It highlights the importance of ongoing dialogue between insurers, regulators, and consumers to ensure that life insurance products and practices remain aligned with societal expectations and provide meaningful protection.

Published:Friday, 17th Apr 2026
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Insurance News

Understanding the 4.41% Increase in Private Health Insurance Premiums
Understanding the 4.41% Increase in Private Health Insurance Premiums
17 Apr 2026: Paige Estritori
From April 1, 2026, Australian private health insurance premiums are set to rise by an average of 4.41%, marking the most significant increase since 2017. This adjustment reflects the escalating costs associated with medical and hospital services, which saw a 5% increase in the last financial year. - read more
APRA Halts 25% Premium Increases in Commercial Auto Insurance
APRA Halts 25% Premium Increases in Commercial Auto Insurance
17 Apr 2026: Paige Estritori
In March 2026, the Australian Prudential Regulation Authority (APRA) took decisive action to address significant premium hikes in the commercial auto insurance sector. Responding to widespread industry concerns, APRA issued emergency regulations to freeze unjustified baseline premium increases exceeding 25%, pending external review. - read more
ASIC Identifies Emerging Risks for Australian Insurers in 2026
ASIC Identifies Emerging Risks for Australian Insurers in 2026
17 Apr 2026: Paige Estritori
The Australian Securities and Investments Commission (ASIC) has released its Key Issues Outlook for 2026, highlighting significant risks facing insurers and financial markets. The report emphasises the need for heightened scrutiny as economic, technological, and climate-related pressures intensify. - read more
Australian Senate Enacts Ban on Genetic Testing in Life Insurance Underwriting
Australian Senate Enacts Ban on Genetic Testing in Life Insurance Underwriting
17 Apr 2026: Paige Estritori
The Australian Senate has recently passed legislation that prohibits life insurers from using genetic test results in their underwriting processes. This landmark decision aims to protect consumers from potential genetic discrimination and ensure equitable access to life insurance coverage. - read more
AIA Australia Unveils New Member Insurance Portal for Enhanced User Experience
AIA Australia Unveils New Member Insurance Portal for Enhanced User Experience
17 Apr 2026: Paige Estritori
AIA Australia has recently launched a new member insurance portal, marking a significant advancement in digital services for policyholders. This initiative is part of the company's ongoing commitment to enhancing user experience and streamlining access to insurance information and services. - read more


Commercial Property Insurance Articles

Understanding Commercial Property Insurance for Multiple Locations: What Landlords Need to Know
Understanding Commercial Property Insurance for Multiple Locations: What Landlords Need to Know
When it comes to owning commercial properties in Australia, understanding the ins and outs of insurance is crucial. Commercial property insurance serves as a safety net, protecting your valuable assets against unforeseen events. It's designed to cover the buildings themselves, as well as any equipment, inventory, and even loss of income due to disruptions. - read more
Beyond the Basics: Essential Add-Ons for Comprehensive Commercial Property Insurance
Beyond the Basics: Essential Add-Ons for Comprehensive Commercial Property Insurance
Commercial property insurance is a vital safeguard for businesses and landlords, protecting physical assets from a variety of risks. This type of insurance covers a range of properties, from office buildings to retail spaces, ensuring that in the event of damage or loss, you have financial support to recover your investment. - read more
What does Commercial Property Insurance cover?
What does Commercial Property Insurance cover?
Commercial property insurance is vital for anyone who owns or operates a business that involves a physical location. This type of insurance protects your business premises, equipment, and any inventory within the space. Whether you're a landlord, a small business owner, or a property investor, having a solid understanding of commercial property insurance is essential. It not only safeguards your physical assets but also provides peace of mind for your financial investment. - read more
Is Commercial Property Insurance Mandatory? What Every Landlord Should Know
Is Commercial Property Insurance Mandatory? What Every Landlord Should Know
Commercial property insurance is a type of coverage designed to protect property landlords and investors from various risks. It typically encompasses buildings, equipment, and other assets associated with commercial spaces. Understanding this insurance is crucial for anyone involved in property leasing or investment, as it can safeguard against significant financial loss. - read more
What Factors Affect Commercial Property Insurance Premiums?
What Factors Affect Commercial Property Insurance Premiums?
Commercial property insurance is designed to protect businesses and landlords against losses to their buildings and other related assets. This type of insurance covers various incidents, such as fire, theft, and damage from natural disasters. It's essential for safeguarding not just the physical property but also the livelihood associated with the business operations conducted within that space. - read more

Knowledgebase
Trauma Insurance:
An insurance that pays a lump-sum amount on the diagnosis of one of several critical illnesses or events