The Council of Australian Life Insurers (CALI) has welcomed a ban on the use of genetic test results in insurance underwriting.
A statement from the council says the industry fully supports the government’s ban saying it will help ensure Australians are confident about accessing the information they need to better manage their health.
It says the ban comes after more than a year of collaboration between Australia’s life insurers, the Federal Government, and other stakeholders.
CALI CEO Christine Cupitt says: “We’ve long been clear about the need for strict regulation to ensure that no one is deterred from taking a genetic test to proactively manage their health.”
Speaking with Riskinfo, Cupitt emphasised the point that life insurance is still risk rated and life insurers will continue to collect other information and other health information and family history to inform their underwriting process.
The ban will be reviewed in 2029 to ensure the law keeps up to date.
See our FSC report: Genetics – How Far Have We Come?