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News and Insights

22 June 2023

The Life Insurance Code of Practice 2

The Life Insurance Code of Practice comes into effect on 1 July 2023 (LICOP 2).

LICOP was first introduced in 2016 and outlines our obligations during the life cycle of an insurance policy. LICOP 2 has 27 key changes across sales, underwriting, premium disclosures, claims, mental health, vulnerable customers, sanctions, and clarity on navigation of the code. In addition, LICOP 2 introduces enforceable code provisions, where significant breaches may be subject to civil penalties.

Zurich has developed compliant, best practice and market leading solutions to ensure our successful adoption of the LICOP 2. These solutions include revised frameworks, policies and procedures, system enhancements, improvements to customer communications and an uplift in our vulnerable customer and complaints management frameworks. We have also worked closely with our supply partners and outsourcing partners, implementing new frameworks and procedures to ensure their compliance with LICOP 2. 

We are committed to ensuring continuity of key industry standards as we transition our industry association membership from the Financial Services Council to the Council of Australian Life Insurers. This transition will have no impact on how we serve and support our customers and we will continue to be bound by the Life Insurance Code of Practice and relevant standards.

Vulnerable Customers

We are committed to supporting all customers and providing additional assistance to Vulnerable Customers. We have developed a Vulnerable Customer Framework with supporting procedures and have implemented a Vulnerability Specialist Network across our Life, Investments and Assure Business. Contact us to discuss any vulnerable customer needs or refer to the Zurich Vulnerable Customer Page or OnePath Vulnerable Customer Page on our websites, for further information.


We are committed to providing a high level of service and we have arrangements in place for resolving any complaints our customers may have. We will always endeavour to address our customers concerns as a matter of priority and will work with them to resolve their complaint. Refer to the Zurich Complaints Page or OnePath Complaints Page, on our websites, for further information. 

For further information, please contact your Business Development Manager.