Insurance News from Compare Life Insurance

Compare Life Insurance is pleased to present the latest financial news headlines.

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News items on this page are prepared by our editorial team as summaries of publicly available news reports and official announcements. See linked news sources where available. The following news items are for informational purposes only and are not independent journalism.

Insurance News

New Draft Insurance Code Puts Motor Claim Delays in Focus

25 Jun 2026: Paige Estritori

Australia’s general insurance sector is facing a proposed step-up in accountability, with the Insurance Council of Australia opening consultation on a new draft General Insurance Code of Practice on 24 June 2026. For truck owners, small fleet operators and transport businesses, the most relevant shift is not just the wording of the code, but the possibility that parts of it could become contractually enforceable for the first time, subject to ASIC approval. - read more

Income Protection Demand Rises as Australians Revisit Personal Cover

24 Jun 2026: Paige Estritori

New market data points to a meaningful lift in Australians taking out individual income protection insurance, suggesting more households are reassessing how they would manage financially if illness or injury interrupted their pay. - read more

Claims Delays Put Life Insurance Service Standards in Focus

24 Jun 2026: Paige Estritori

A recent sanction against an unnamed life insurer has put claims handling back under the spotlight, particularly for Australians who rely on personal insurance as a financial safety net. The Life Insurance Code Compliance Committee found that the insurer failed to request required information from claimants at the earliest available opportunity, contributing to significant delays for some customers waiting on claim decisions. - read more

Draft Insurance Code Puts Claims Standards Back in Focus

24 Jun 2026: Paige Estritori

The Insurance Council of Australia has released a draft General Insurance Code of Practice for feedback, marking a significant step in the industryâ€™s push to strengthen customer protections. Released on 24 June 2026, the draft is open for consultation until 21 July 2026 and is designed to make key obligations legally enforceable through insurance contracts. - read more

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