Supporting vulnerable customers in insurance

Supporting vulnerable customers in Insurance

As a financial services professional, you will encounter customers in difficult circumstances – vulnerable customers. Your organisation has a responsibility to offer support to these customers and you play a vital role in providing that support to those customers.

The financial services industry has a responsibility to take extra care with customers who experience vulnerability. This is outlined in the Corporations Act (section 912A(1)), which specifies a general obligation to conduct activities efficiently, honestly and fairly. The Insurance Contracts Act also outlines the principle of Utmost Good Faith, which describes the way insurers must deal with their customers (section 13).

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Regulatory compliance and conduct learning

Our General Corporate Compliance modules are designed for enterprise wide training, offering bite-sized modules (30-45 minutes), the perfect study duration, balancing convenience with learning. Contextualised specifically for Financial Services.

About our Supporting vulnerable customers in insurance module

Learn how to identify customers experiencing vulnerability, and find out how you can aid them personally and connect them with additional support services.

Note: This module is intended for people working in the insurance sector.

The relevant laws and regulations governing these requirements are:

Program Content

  • Your role in supporting vulnerable customers
  • Recognising vulnerability
  • Responding to your customer’s needs
  • Directory of consumer support services

Learning Outcomes

  • How to identify vulnerable customers
  • What obligations your organisation and you have under consumer credit laws and industry codes
  • Ways you can support vulnerable customers
  • Additional support services vulnerable customers can be referred to.

What you will learn

Who is this course for?

  • Any financial representatives who must be trained to adhere to financial services-specific regulation and industry codes with respect to conduct.

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

Explore our General Compliance Training

A simple enterprise-wide solution for a complex world of regulation.

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Frequently Asked Questions

The general corporate compliance suite is a curated library of engaging online modules designed to help employees across your organisation understand their responsibilities and feel equipped to uphold the regulatory and conduct standards that apply to their role. Developed specifically for the Australian financial services sector, each module is instructionally designed for maximum engagement and knowledge retention.  

The team at FEP understands that effective compliance training is not just about delivering regulatory content; it's about creating learning that is engaging, relevant and impactful for organisations and their employees. We design training experiences that resonate with individuals, ensuring they gain practical knowledge and skills that are immediately applicable to their roles.
What will I learn in this workshop?2026-07-15T18:59:10+10:00

The workshop combines regulatory updates with practical compliance guidance, helping Responsible Managers better understand their obligations and strengthen their governance framework.

Topics include:

Credit regulation and licensing

Understand the current regulatory framework governing Australian Credit Licensees and ASIC’s expectations of Responsible Managers.

The role and responsibilities of a Responsible Manager

Explore what ASIC expects Responsible Managers to do in practice and how to effectively discharge your responsibilities.

Regulatory priorities

Understand the emerging issues and compliance risks currently attracting regulatory attention.

Recent ASIC regulatory outcomes

Review recent enforcement actions and regulatory outcomes with a focus on the role Responsible Managers played – and the lessons every licensee should learn.

Accountability and governance

Strengthen your oversight, governance and compliance framework through practical examples and proven approaches.

Managing your ongoing obligations

Learn practical tips for staying across your obligations, maintaining effective records and meeting your reporting responsibilities.

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