Minter Ellison's popular report on the fundamentals of doing business in Australia.
Minter Ellison’s life insurance team has gained a thorough knowledge of the industry through years of advising clients on all aspects of life insurance, participating in industry forums and taking an active role in regulatory developments. Our experience pre-dates the introduction of the current life insurance and financial services statutes. Members of our team have been involved in obtaining important exemptions for life risk insurance from the anti-money laundering (AML) regime, the National Consumer Credit Act (policy lending) and shorter product disclosure statement (PDS) regimes. Our work includes the development of new insurance products and benefits, policy drafting, product disclosure statement reviews, marketing campaigns, training materials, and advising on complaints and claims that progress to the Financial Ombudsman Service (FOS), the Superannuation Complaints Tribunal (SCT) or litigation. We also advise on the implications of health insurance regulation, privacy obligations and discrimination legislation (state and Commonwealth). We advise on the full range of life products including complex portfolio life insurance products, simple direct insurance campaigns, annuities, consumer credit insurance, insurance bonds and conventional/traditional business. We also advise trustees and life companies on life insurance-related issues in superannuation. Recently we have advised on more innovative benefits and longevity products. We have particular expertise in governance issues for statutory funds, prudential standards and compliance with the Life Insurance Act and other regulatory regimes, including the Personal Property Securities Act. We regularly advise life insurance boards and directors on governance structures and related issues. We are the leading adviser on life insurance transactions under Part 9 of the Life Insurance Act where we have successfully executed more than 25 life and general insurance schemes.