The Council of Australian Life Insurers (CALI) has appointed respected financial sector expert Peter Kell to lead an independent review of the Life Insurance Code of Practice (Life Code). The review will begin on 1 October 2025.
The Life Code sets enforceable standards that life insurers agree to uphold when providing services to their customers, covering areas not addressed by the law. It guides everything from product design to claims handling and complaint resolution. This review will ensure the Life Code continues to reflect the needs of Australians, keeps pace with changing laws and regulations, and remains practical and easy to understand.
Peter Kell brings more than two decades of leadership in financial regulation and consumer policy. He has served as Deputy Chair of both the Australian Securities and Investments Commission (ASIC) and the Australian Competition and Consumer Commission (ACCC), where he led major consumer protection reforms and was responsible for financial services, conduct regulation, enforcement, and policy development.
Mr Kell was also CEO of CHOICE, where he championed the rights of consumers, overseeing industry-wide reviews and strengthening accountability across the financial sector. He is currently the Chair of the Financial Counselling Industry Fund.
CALI CEO Christine Cupitt said the review is intended to be thorough, inclusive, and credible.
“Peter Kell is uniquely qualified to lead this review. Peter’s deep expertise in industry codes and self-regulation, together with his clear commitment to improved consumer outcomes in financial services, will be invaluable in strengthening the Life Code for the benefit of customers and the life insurance industry alike,” said Ms Cupitt.
“The Life Code is a cornerstone of how the industry commits to treating Australians fairly. This review is an important opportunity to hear from the community, consumer advocates, regulators, and the industry to ensure the Life Code remains strong, relevant, and trusted.”
Mr Kell said he is looking forward to hearing from a wide range of perspectives throughout the review process.
“Broad feedback will be critical to the success of the review and will help ensure the Life Code evolves to meet emerging challenges,” Mr Kell said.
New website available now
The website for the Life Code review is now live at www.lifecodereview.org.au: the official hub for updates on the review, key dates, and information on how to have your say.
A consultation paper will be released on 17 October 2025, with public submissions open until 15 December 2025. Stakeholder engagement will continue into early 2026, with the final report to be delivered to CALI by 30 June 2026. The report will be made publicly available later that year.