Zurich Australia welcomes Life Code review
Zurich Financial Services Australia (Zurich) today welcomed the announcement by the Council of Australian Life Insurers (CALI) to formally review the Life Insurance Code of Practice (the Code).
The Code outlines the life insurance industry’s key commitments and obligations to customers on standards of practice, disclosures, and principles of conduct.
Beginning 1 October 2025, the Code review will be conducted by Peter Kell, former Deputy Chair of the Australian Securities and Investments Commission (ASIC) and Australian Competition & Consumer Commission (ACCC), and former Chief Executive Officer of CHOICE.
Justin Delaney, Chief Executive Officer, Zurich said: “The Code plays an important role in holding insurers to a high standard with our customers across the entire process, from how products are designed and sold, through to the claims experience.”
“The decision to review the Code and the industry’s intention that it be registered with the regulator underline’s a commitment to continually improving and achieving positive customer outcomes.”
“Zurich looks forward to working with Mr Kell and the broader industry on this important task and contributing to evolving the critical safeguards the Code provides to customers,” Mr Delaney said.
The Code was first established in 2016 was last revised and updated in July 2023, incorporating several changes across sales, underwriting, premium disclosures, claims, mental health, vulnerable customers, sanctions, clarity on navigating the Code, and the introduction of new enforceable provisions.
A consultation paper will be released on 17 October 2025, with public submissions open until 15 December 2025. The final report will be delivered to CALI by 30 June 2026 and made publicly available later that year.
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For media enquiries contact:
Isabella Molinari
Media and External Relations Manager
+61 401 105 653
media@zurich.com.au
Zurich Financial Services Australia is a life insurance, commercial insurance and investments specialist that has been participating in the Australian market since 1920. Since its acquisition of OnePath Life from ANZ in 2019, the company provides life insurance to more than 1.5 million Australian customers under both the Zurich and OnePath Life brands. Further information about Zurich Financial Services Australia is available at www.zurich.com.au.
Zurich Insurance Group (Zurich) is a leading global multi-line insurer founded more than 150 years ago, which has grown into a business serving more than 75 million customers in more than 200 countries and territories, while delivering industry-leading total shareholder returns.
Reflecting its purpose to ‘create a brighter future together,’ Zurich offers protection services that go beyond traditional insurance, to support its customers in building resilience. Since 2020, the Zurich Forest project supports reforestation and biodiversity restoration in Brazil’s Atlantic Forest.
The Group has more than 63,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.