Former ASIC Deputy Chair Peter Kell has been appointed by CALI to lead a review of the Life Insurance Code of Practice.
Apart from his term as ASIC’s Deputy Chair (2013-2018), he was Deputy Chair of the ACCC where he was responsible for financial services, conduct regulation, enforcement, and policy development.
Kell was also CEO of consumer group Choice and is currently the Chair of the Financial Counselling Industry Fund. His letter of engagement from CALI can be read here.
The Life Code sets enforceable standards life insurers agree to uphold when providing services to their customers, covering areas not addressed by the law.
CALI CEO Christine Cupitt said the review is intended to be “thorough, inclusive, and credible”.
“Peter Kell is uniquely qualified to lead this review,” she said. “The Life Code is a cornerstone of how the industry commits to treating Australians fairly.
This review is an important opportunity to hear from the community…
“This review is an important opportunity to hear from the community, consumer advocates, regulators, and the industry to ensure the code remains strong, relevant, and trusted.”
Kell said broad feedback is critical to the success of the review and will help ensure the code “evolves to meet emerging challenges”.
The code was the responsibility of the FSC until September 2023 when it was transferred to CALI.
CALI’s review starts 1 October 2025 with a new website featuring updates, key dates, and information on how to have your say.
A consultation paper will be released on 17 October 2025, with public submissions open until 15 December 2025. Stakeholder engagement will continue into early 2026, with the final report to be delivered to CALI by 30 June 2026. The report will be made publicly available later that year.
