Junk insurance - Consumer Action Law Centre

Code Governance Committee’s monitoring and compliance program for 2023-24 consultation

We are grateful for the opportunity to provide input to the Code Governance Committee’s (CGC) monitoring and compliance program for the 2023-24 financial year. In our submission we recommend that t...

“A decade-long disgrace”: Thousands likely remain uncompensated by the Freedom Insurance Remediation program

The Australian Securities and Investment Commission revealed today that it is likely thousands of customers remain entitled to an unclaimed refund from the Freedom Insurance Remediation Program. “...

“Devastating cultural and financial impact”: First Nations communities in crisis after Youpla collapse

New data reveals the local communities hit hardest by predatory insurer as calls grow for urgent Federal Government action “The collapse of the predatory funeral fund Youpla (ACBF) is having a deva...

Failure in Government policy sees First Nations peoples lose millions in funeral fund collapse

A coalition of community organisations which work with First Nations consumers and consumer groups are calling on the Australian Government to step in to assist policyholders who have been devastated...

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Hayne Royal Commission findings on conflicted remuneration forgotten by Federal Government in long-awaited review

Consumer Advocates are calling for an urgent rewrite of the Federal Government’s Draft Terms of Reference (Draft TOR) for the Quality of Financial Advice Review (Advice Review). “This review is sup...

Consumers win as long-awaited financial services sector reforms commence

A raft of major reforms in the financial services sector have come into effect this week, the culmination of years of consistent campaigning and casework from consumer advocacy groups representing hun...

Consumer groups concerned that travel insurance has unwarranted exemptions from Hayne reforms

Consumer advocates are calling on the Federal Treasurer and ASIC to implement the ban on unsolicited selling of insurance and superannuation consistently with the letter and spirit of Commissioner Hay...

ASIC Consultation Paper 346 – The Hawking Prohibition: Update to RG 38

This submission has been prepared by Consumer Action Law Centre with contributions and endorsement from the Financial Rights Legal Centre, Financial Counselling Australia and Super Consumers Australia...

Consumer groups: Insurance exemption loopholes undermine spirit of Hayne reforms

Yesterday the Morrison Government announced that it would provide sweeping exemptions to the insurance industry from Financial Services Royal Commission reforms designed to improve insurance sales pra...

Implementing the Royal Commission recommendations: The deferred sales model for add-on insurance

Consumer Action Law Centre (Consumer Action) and Financial Rights Legal Centre (Financial Rights) broadly support the content of the draft regulatory guide for the industry-wide direct sales model (DS...

Royal Commission add-on junk insurance reforms must be implemented industry-wide

Community legal centres are urging the Government to deliver on Commissioner Hayne’s recommendation that the deferred sales model for add-on insurance apply ‘industry-wide’. The Final Report of the...

Deferred sales model for add-on insurance – exemptions by class

This submission is made by Consumer Action Law Centre, Financial Rights Legal Centre and WEstjustice. We oppose any exemptions for classes of add-on insurance products from the deferred sales model...

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