AMA acts to ensure that life insurance for doctors is not impacted by COVID-19
The AMA has made a submission to the Australian Competition and Consumer Commission (ACCC) supporting a proposal to ensure health care workers are not denied life insurance policies during COVID-19.
The ACCC moved on April 9 to grant interim authorisation to the Financial Services Council (FSC) and its member life insurance companies to ensure that healthcare workers are not denied life insurance, will not be charged higher premiums and will not have benefits excluded, purely due to exposure, or potential exposure, to COVID-19. The FSC is seeking authorisation on behalf of its member life insurance companies to extend the authorisation for an additional 12 months beyond the initial 1 July 2020 date.
The AMA was concerned by reports from members earlier this year that life insurance companies were planning to deny cover to doctors and other health professionals because of COVID-19.