Comments on: Advisers emerge with credit as life insurer sanctioned

By: Old Risky

Old Risky — Thu, 19 Jun 2025 06:42:58 +0000

In reply to Nuffyland. Just a thought. You do know that the life insurance code has no legal standing under the corporations act. There was a case in front of Justice Chapman in the Federal Court were Zürich actually argued that the code had no standing and therefore they didn't have to take any notice of it under law. The judge agreed. Apparently CALI don't think it's a problem. But I'm not sure they think at all To paraphrase Al Capp- "the industry is in the very best of hands"

By: Colin Oscopy

Colin Oscopy — Wed, 18 Jun 2025 23:40:41 +0000

Typical, name & shame only applies to little Advisers hey.
Corrupt Regulators giving Advisers the Sh#ts yet again

By: 2020fp

2020fp — Wed, 18 Jun 2025 23:03:31 +0000

So the insurance company did the old “all care, no responsibility” trick and tried handballing it back to the adviser. Then blamed it on a template letter. Seems to be unfortunately the standard in dealing with Financial Institutions in this country – complete lack of duty of care

By: Nuffyland

Nuffyland — Wed, 18 Jun 2025 22:13:57 +0000

The LCCC is a joke and needs to be wound up. Most life insurers don’t even bother trying to comply with it. Claims processing is broken in this country. The AFCA limits are also grossly inadequate, leaving advisers and consumers no where to go except to waste money on lawyers in many cases.