Joint submission by Financial Rights, Consumer Action Law Centre and WEstjustice opposing any exemptions for classes of add-on insurance products from the deferred sales model for add-on insurance.
An industry-wide deferred sales model for add-on insurance was introduced on December 10, 2020 with the passing of the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 in response to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
