Wednesday, 10 May 2017
OnePath and ANZ Wealth have adopted the Life Insurance Code of Practice (the Code) from its commencement on 1 July 2017.
The Code sets out the life insurance industry’s key commitments and obligations to customers on standards of practice, disclosure and principles of conduct for their life insurance services, such as being open, fair and honest. It also sets out timeframes for insurers to respond to claims, complaints and requests for information.
The Code covers many aspects of our customers’ relationship with us, from buying insurance to making a claim, to providing options if experiencing financial hardship or requiring additional support. It’s monitored by an independent committee, to ensure effective compliance by life insurers. Insurers can be sanctioned if they do not correct breaches of the Code.
You can find details on the Code at the FSC website.