The Federal Treasurer, Josh Frydenberg, has released this Australian government’s response to the Royal Commission.

This inquiry was initiated to examine options for greater involvement by private sector life insurers in worker rehabilitation, including support after return to work, with particular reference to the interaction of Income Protection (IP) insurance and Total and Permanent Disability (TPD) insurance with State, Territory, and Commonwealth legislative and regulatory frameworks.

The Commission’s work, so far, has shown conduct by financial services entities that has brought public condemnation. Some conduct was already known to regulators and the public - some was not. Why did it happen? The answer seems to be greed – the pursuit of short term profit at the expense of basic standards of...

This report summarises the findings and recommendations from ASIC's review of the sale of direct life insurance products in Australia, including term life, accidental death, trauma, total and permanent disability (TPD) and income protection insurance.

This report sets out the results of research into consumers’ experiences in buying life insurance directly. The products covered by the research include term life, accidental death, trauma, total and permanent disability (TPD) and income protection insurance.