Deferring Add-on Insurance – Treasury releases proposal paper
The Financial Services Royal Commission recommended in February that Treasury develop an "industry-wide" Deferred Sales Model for the sale of all Add-on Insurance products. Treasury's Proposal Paper, released on 10 September 20191, sets out the details. Treasury's proposal is to apply a simple, uniform Deferred Sales Model to all types of Add-on Insurance across all channels through which they are distributed, and subject to very limited...