Media Release - No signs of life in Government's response to key insurance reforms

The Government has failed to respond to a key Parliamentary Joint Committee report on the life insurance industry, despite having 18 months to help better protect Australians with their insurance choices.

The Coaltion’s inaction is clearly impacting on consumers with reports that life insurers have already accessed the medical records of 150,000 Australians during that time with wide-ranging requests for information to determine claims payouts or provide cover.

In March 2018, the bipartisan Life Insurance Industry report called on the Government to ensure that life insurers only had access to targeted medical information when making such requests, not customer’s complete medical files.

Labor and other stakeholders continue to raise concerns about the lack of action in response to the PJC’s recommendations to better protect Australians through their life insurance, but the Government has deserted the field.

The only thing they are concerned about is rushing through legislation that will put consumers at risk.

After 18 months sitting on the PJC’s recommendations, what have they been doing besides fighting within their own factions?

Kelly O’Dwyer, Stuart Robert and now Jane Hume have all done nothing with the PJC report that was delivered after a two-year inquiry into the life insurance sector.

Senator Hume has confirmed that the Government can’t be bothered to even issue a formal response to the report.  

This is from a Government that voted against the Banking Royal Commission 26 times and is now dragging its feet in response with 72 of the 76 recommendations yet to be implemented.

Australians can’t afford to wait for another crisis in the life insurance industry before this do-nothing Government takes action to better protect consumers.

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