Worth the Risk report: LGBTIQA discrimination in insurance
/The Victorian Pride Lobby has launched a new report into the experiences of the LGBTIQA+ community in the insurance industry in Australia, Worth the Risk. This is the first report of its kind, showing the human face of discrimination against the LGBTIQA+ community. The report offers guidance on how to improve.
The Victorian Pride Lobby ran a survey earlier in 2022, discovering that half of all LGBTIQA+ people had faced discrimination or exclusion when attempting to access insurance. The survey was conducted on 500 LGBTIQA+ Australians.
Key findings include
Two-thirds of participants received excellent service when dealing with insurance companies
Forty-seven per cent reported discrimination or exclusion when applying for insurance
About three-quarters of trans and gender-diverse people have encountered difficulties self-declaring gender with insurance companies, while about half were reluctant to make a claim in some cases due to fear and stigma.
About two in five in the LGBTIQA+ community had been subjected to invasive questioning during claims processes.
People living with HIV, trans and gender diverse people, those with a variety of sex characteristics and sex workers were more likely to report exclusion and discrimination - such as being misgendered or denied coverage
Two-fifths found it difficult to update information
Three-quarters of trans and gender diverse people said it was difficult to self-declare gender
Recommendations include
Updating the Life Insurance Code of Practice with explicit guidance for vulnerable customers
Publicly available information from insurers on if and how LGBTIQA+ people are covered in policies
Communications and marketing material containing depictions of LGBTIQA+ people and use of inclusive language
Provide staff training
