CALI has made a submission to Treasury’s review of the amended Unfair Contract Terms (UCT) protections. The submission draws on industry experience since the extension of the UCT regime to life insurance and focuses on areas where greater clarity would support effective consumer protections while maintaining certainty for long‑term insurance contracts.
Our submission highlights practical considerations relevant to long term life insurance contracts, including the operation of remedies and penalties and the application of the regime to group insurance arrangements. CALI’s comments are intended to assist Treasury in assessing whether the framework is operating as intended and where targeted clarification may be beneficial.