The Council of Australian Life Insurers says it is committed to a “transparent and inclusive” review of its industry code of practice, to be led by former regulator Peter Kell.

Mr Kell will start as independent reviewer next month and draft a discussion paper for a consultation that will open in October. 

“The review must be conducted impartially with the exercise of your professional judgment,” a letter of appointment to Mr Kell says. 

“While CALI will fund the review, CALI and the life insurance industry will not have any influence over the findings and options identified by you beyond our input as a participant in the review.”

The review of the voluntary code is the first since CALI took stewardship in 2023.

In the last review, more than 50 consumer protection measures – including a penalty of up to $100,000 for significant breaches – were added. 

The Financial Rights Legal Centre says it looks forward to contributing to the review.

“We believe [Mr Kell’s] breadth of experience and insights are a real positive … It’s an initial sign that this review is being taken seriously by a sector wanting to improve the way it works with its customers,” senior policy and advocacy officer Drew MacRae told insuranceNEWS.com.au.

The consultation paper will be released on October 17, with submissions to be received by December 15.

Mr Kell is expected to provide a final report to CALI about June 30 next year.