CALI has submitted a detailed response to the Australian Financial Complaints Authority (AFCA) on its draft on superannuation approaches. CALI has provided constructive feedback to refine the document’s clarity, legal consistency, and operational feasibility to foster a fair, balanced, and practical approach to dispute resolution in the superannuation sector.
In the response, CALI has provided recommendations on interpreting sections 29(6) and 29(7) of the Insurance Contracts Act to ensure AFCA’s guidance aligns with the Life Insurance Code of Practice, and maintains fairness without adding obligations beyond what is legally required.
CALI appreciates AFCA’s collaborative consultation process and welcomes ongoing dialogue with AFCA to support positive outcomes for all.