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FINANCIAL SERVICES ROYAL COMMISSION IMPLEMENTATION ROADMAP
Ending grandfathered commissions for financial advisers
Recommendation 2.4
Removing the exemptions for funeral expenses policies
Recommendation 4.2
Legislation to be consulted on and introduced by end-2019
Application of unfair contract terms provisions to insurance contracts
Recommendation 4.7
Removal of claims handling exemption for insurance
Recommendation 4.8
Recommendation 4.1
No hawking of insurance products
Recommendation 4.3
Deferred sales model for add-on insurance
Cap on commissions paid to vehicle deal- ers for sale of add-on insurance products
Recommendation 4.4
Legislation to be consulted on and introduced by 30 June 2020
Duty to take reasonable care not to make a misrepresentation to an insurer
Recommendation 4.5
Limiting circumstances where insurers can avoid life insurance contracts
Recommendation 4.6
Restricting use of the term ‘insurer’ and ‘insurance’
Recommendation 4.2
Legislation to be consulted on and introduced by end-2020
Extending the BEAR to APRA-regulated insurers
Recommendation 4.12
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