Corporate Governance
Our governance approach shapes our business culture.How we work
Our approach to corporate governance goes beyond compliance. It’s grounded in our promises to customers, communities, employees and partners. It shapes our business culture for the long term.
Our Risk Management Strategy
This guides how we manage and report on risks. It’s regularly reviewed to make sure it’s as effective and relevant as possible. It means our business activities are aligned to the Board’s risk appetite.
Our Risk Management Declaration
The TAL Board gives the Australian Prudential Regulation Authority (APRA) an annual Risk Management Declaration, to confirm that TAL has relevant risk management systems in place. Also, our annual financial statements and regulatory returns are externally audited.
Customer feedback and dispute resolution
It’s important to TAL that we deal with complaints and feedback as efficiently as possible. We have developed a customer complaint and feedback process which manages any relevant matters within agreed timeframes.
TAL is also a member of the Australian Financial Complaints Authority (AFCA), which provides an external dispute resolution service that is free of charge to consumers.
The best of local and global expertise
We’ve leveraged the knowledge of our global parent and combined it with our local expertise. So while we’re owned by the Dai-ichi Life Group, our corporate governance processes remain consistent with APRA-regulated companies.
TAL has an independently-chaired board (with a majority of independent directors), with a similar approach applying to TAL's three Board Committees (being the Risk, Audit and Remuneration Committees).
To fulfil the promises that we make to our customers, we comply with applicable laws and regulations. We manage our regulatory affairs with subject matter experts, who work with industry bodies to promote our customers’ best interests.
In other words, our approach to corporate governance is all about protecting people, not things.
Reporting misconduct
TAL is committed to doing the right thing and promoting a culture of honest and ethical behaviour. TAL takes all reports of misconduct extremely seriously and utilises a confidential externally-managed service to receive Whistleblowing disclosures. All reports received will be investigated thoroughly.
Please note the Whistleblowing process is not intended to replace the existing Disputes Resolution process. Customers who wish to raise a complaint regarding TAL’s products or services should follow the Dispute Resolution process.
If you wish to report misconduct at TAL, you can do so by utilising TAL’s confidential and externally-managed TAL Whistleblower service.
Adopting the Life Insurance Code of Practice
We're proud to have adopted the Life Insurance Code of Practice. The Code is the life insurance industry’s commitment to mandatory customer service standards and it’s designed to protect our customers.
It sets out the life insurance industry’s key commitments and obligations to customers on standards of practice, disclosure and principles. Learn more about the Life Insurance Code of Practice.