There are some key functions on the proposed Insurance Key Functions List (the list) that are more appropriate for Authorised Deposit-Taking Institutions (ADIs), and therefore might require amending and/or removing to better reflect the life insurance industry.
CALI believes that having an Insurance Key Functions List that more closely reflects core business areas of life insurance will help contribute to consistency of reporting across the life insurance industry, as well as make allocating key functions to an accountable person a clearer process.