life insurance
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Plan to prevent insurance discrimination based on genetic testing is welcome
12th Sep 2024The Federal Government’s announcement that it will prevent insurers being able to discriminate based on adverse predictive genetic test results is welcome, says the Australian Lawyers Alliance (ALA).
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Use of genetic testing results in life insurance underwriting
8th Feb 2024 -
‘Efficiently, honestly and fairly’ – the requirement to update medical definitions in insurance policies
8th Jun 2023'One problem with using a medically described condition in an insurance policy is that it will capture a definition appropriate for when it is described but likely no longer useful a few decades later – which is the length of time a life insurance policy is designed for.' Dr Benjamin Koh discusses the importance of keeping such definitions up to date and the ramifications of Australian Securities and Investments Commission v MLC Limited [2023] FCA 539, in which the defendant was fined a penalty of $10 million for not doing so, among other things.
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