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6. Life Board Committee

Mandate

This Committee has responsibility for developing the FSC’s strategies and policies in relation to life insurance.

The Committee’s objectives are to:

• develop policies and standards for the life insurance industry to support the provision of affordable and appropriate life insurance and financial protection for Australians;
• encourage and support the industry to continually improve its efficiency and effectiveness for the benefit of its consumers;
• improve levels of consumer awareness of the value of adequate levels of life insurance;
• support and promote underwriting practices that are based on a fair and evidence-based assessment of risk;
• maintain and increase consumer confidence in the life insurance industry; and
• continually advocate an appropriate regulatory and tax regime to ensure the most efficient delivery of life insurance products to Australians. 

The Committee has oversight of the FSC’s relationship with relevant regulators and State and Federal government departments that have responsibility for life insurance, including: the Australian Prudential Regulation Authority (APRA); Australian Securities and Investments Commission (ASIC); the Department of Treasury and State revenue offices.

Co-Chairs

The Committee comprises two members of the FSC's Board:

1. FSC Director, Justin Delaney, Chief Executive Officer, Zurich Australia and New Zealand
2. FSC Director, Nick Hamilton, Chief Executive Officer & Managing Director, Challenger Ltd

FSC Contacts

Life Board Committee