The Independent Reviewer of the Life Insurance Code of Practice (the Life Code), Peter Kell, has released an Interim Report setting out initial observations, findings and recommendations from the first phase of the review.

The Interim Report marks an important milestone in the independent review of the Life Code and follows extensive consultation with stakeholders, including the life insurance industry, industry bodies, consumer representatives, regulators and government agencies, medical experts, legal practitioners, the Australian Financial Complaints Authority and the Life Code Compliance Committee. In response to the Consultation Paper published in October 2025, the Reviewer received 11 public submissions and three confidential submissions, in some cases incorporating the views of multiple stakeholders.

The Interim Report includes recommendations that address the key areas for consideration in the terms of reference and other issues in the Consultation Paper and submissions, including:

  • Industry commitments and communication on mental health cover and support;
  • Support for customers experiencing vulnerability;
  • Engaging with First Nations customers;
  • Claims handling, including timeframes and communication during claims; and
  • The enforceability of the Code by oversight bodies and individual consumers.

The Reviewer is also seeking additional feedback on mental health exclusions, including on the recommendations set out in a recent supplementary submission from the Council of Australian Life Insurers. Several targeted questions are included in the Interim Report to guide further feedback in this area.

Mr Kell thanked stakeholders for their constructive engagement in the review process.

“I would like to thank all those who contributed submissions and shared their perspectives. The Life Code plays a vital role in supporting consumers in their dealings with life insurers, and this input has been critical in identifying areas where the Life Code is working well and where it can be strengthened.”

“The Interim Report sets out preliminary findings and provides an important opportunity for further feedback to help shape a modern, effective and consumer-focused Life Code.”

Stakeholders are invited to provide feedback on the Interim Report and its proposed areas for reform by 8 May 2026.

Further consultation will inform the final stage of the review. A Final Report, including recommendations for changes to the Life Code, will be provided to the Council of Australian Life Insurers by 30 June 2026.