A stop order issued by ASIC against ClearView Life’s ClearChoice Income Protection Cover and Accidental Income Protection Cover – distributed through general advice – has been lifted, says the firm.
On 18 July 2023, ASIC announced a review of more than 100 TMDs for general and life insurance products to ensure industry compliance with new design and distribution obligations.
A spokesperson for ClearView says it took swift action to address ASIC’s concerns by revising its target market determinations (TMDs) – updated TMDs can be found here.
See our report: ClearView Life Issued with ASIC Stop Order – General Advice
