Use of genetic testing results in life insurance underwriting

In addition to resolving individual complaints, AFCA has responsibilities1 to identify, resolve and report on systemic issues and to notify the Australian Securities and Investments Commission (ASIC), and other regulators, of serious contraventions of the law. [...] We note the Government’s view that a total or partial ban on the use of adverse genetic testing results by life insurers would provide increased certainty to consumers and medical professionals who undertake genetic testing, or participate in medical research involving genetic testing, and would not impact the ability of consumers to obtain life insurance. [...] In the case of life insurance complaints, the relevant industry code that AFCA will have regard to is the Life Insurance Code of Practice (LICOP). [...] If the law is reformed so that consumers are able to make a complaint to AFCA about insurers’ updated obligations for the use of genetic testing results in life insurance underwriting, AFCA would consider the benefit of developing a specific Approach on this issue, and if so, would factor that into our Approach priorities. [...] Use of genetic testing results in life insurance underwriting Page 5 of 6 Appendix 2 Use of genetic testing results in life insurance underwriting Page 6 of 6 Introduction AFCA’s experience with life insurance complaints AFCA and ASIC interaction AFCA Approaches Appendix 1 Appendix 2.