delete Life Insurance Regulations (Amendment)
Amendment to Life Insurance Regulations, registered 2005-01-01, modifying the regulatory framework governing life insurance products, insurers, and distribution in Australia
Life insurance regulation represents regulatory intrusion into private contractual arrangements between consenting adults. Such regulations typically restrict product innovation, create barriers to market entry for new insurers, increase compliance costs ultimately borne by policyholders, and duplicate state-level regulations. The sector would function better through robust competition, disclosure requirements without approval regimes, and contract law enforcement rather than pre-emptive regulatory control.