Annual Industry Data and Compliance Report 2020-21
The Life Code Compliance Committee (LCCC) is an independent Committee which monitors and enforces industry compliance with the Life Insurance Code of Practice (the Code).
Released annually by LCCC, this report aggregates data sourced directly from Code subscribers. Data visualisation highlights the impact of Code breaches on customers and helps to hold life insurance companies accountable, and show where they need to improve their processes.
Independent Committee Chair Jan McClelland AM noted that “highlighting the need for subscribers to focus on improving their processes and controls, the Report’s findings underline the negative impact that process failures can have on customers, both financially and emotionally”.
The Life Code Compliance Committee (LCCC) is an independent Committee which monitors and enforces industry compliance with the Life Insurance Code of Practice (the Code).
Released annually by LCCC, this report aggregates data sourced directly from Code subscribers. Data visualisation highlights the impact of Code breaches on customers and helps to hold life insurance companies accountable, and show where they need to improve their processes.
Independent Committee Chair Jan McClelland AM noted that “highlighting the need for subscribers to focus on improving their processes and controls, the Report’s findings underline the negative impact that process failures can have on customers, both financially and emotionally”.
