The Council of Australian Life Insurers (CALI) welcomes the publication of the Final Report of the Quality of Advice Review (QAR) and looks forward to considering the Report in detail.
CALI Chief Executive Officer, Christine Cupitt, says the report is a crucial step forward in the Australian Government’s work to increase the affordability and accessibility of high quality financial advice.
“All Australians can benefit from timely, affordable, and accessible financial advice. The life insurance industry stands ready to work with the Government on significant reforms to ensure consumers can get the right advice, when they need it, including advice about their life insurance needs,” Ms Cupitt said.
Ms Cupitt also welcomes the Government’s plan to consult further on some aspects of the report and maintain momentum from the QAR, and confirms that CALI will participate fully in that consultation.
CALI commends the work of QAR Chair Ms Michelle Levy for the bold vision and pragmatism shown in the final recommendations and thanks her for this significant contribution to Australia’s financial services policy settings.