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Life Insurance & Superannuation Bulletin - December 2019

  • Newsletter
  • Published 06.12.2019

What's happening here and now

  • TurksLegal and ALUCA Mental Health and Life Insurance Panel discussion
  • 2019 ALUCA TurksLegal Scholarship winner's paper
  • Spring Life Matters Seminar: ASIC Report 633 on TPD

Industry News

Extending Unfair Contract Terms to Life Insurance Contracts
The unfair contract terms reforms were introduced into Federal Parliament last week under the Financial Sector Reform (Hayne Royal Commission Response – Protecting Consumers (2019 Measures)) Bill 2019.

The Financial Services Reform Roadmap 
In August, the Federal Treasurer released the Federal Government’s Implementation Roadmap which sets out a timeline for the enactment of the recommendations of the Banking, Superannuation and Financial Services Royal Commission.

ASIC Report 663 on TPD – Analysis and Implications
In October, ASIC released R633 on TPD. We take you through all you need to know about this report.

Cases and Tribunal Decisions

AFCA – Group – Avoidance by Later in time Insurer

TPD - Delay in Assessing Claims
Sargeant v FSS Trustee Corporation [2018] NSWSC 1997

TPD - Imperfect Decline Reasoning
MX v FSS Trustee Corporation as Trustee of the First State Superannuation Scheme & Anor [2018] NSWSC 923

TPD - Hearne v Street Orders No longer Necessary 
Gavan v FSS Trustee Corporation [2019] NSWSC 667

Crossing the “important and clear line” between general and personal advice
Australian Securities and Investment Commission v Westpac Securities Administration Limited [2019] FCAFC 187

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