Australia’s life insurers have welcomed the final report of the independent review of the Life Insurance Code of Practice (Life Code), saying it is an important milestone in strengthening customer protections and maintaining trust in the industry.
Led by respected consumer and financial services expert Peter Kell, the independent review examined how the Life Code can continue to meet the needs of Australians now and into the future, enhance customers’ experiences and improve access to affordable life insurance, and remain effective, robust, and enforceable.
Council of Australian Life Insurers (CALI) CEO Christine Cupitt thanked Mr Kell for leading a robust and inclusive review process.
“The Life Code is central to continued trust between life insurers and the Australians they protect, and we thank Peter Kell for the expertise, independence, and engagement he has brought to this review,” Ms Cupitt said.
“Many people and organisations have contributed their time, insights, and expertise to the review. We will continue to engage with them as the industry now carefully considers the final report and its 85 recommendations.
“Our focus will be to ensure any changes to the Life Code strengthen customer protections, and are designed and implemented in a way that supports the long-term affordability and accessibility of life insurance for Australians.”
CALI will publicly release an initial industry response to the final report by 30 September 2026.