As the new chair, Heather Loewenthal will oversee the committee’s independent monitoring of insurers’ compliance with the General Insurance Code of Practice.
Loewenthal has developed her legal, risk and compliance career after beginning at Corrs Chambers Westgrath before moving onto Westpac, where she chaired the Australian Compliance Institute.
From there, she joined ING Australia as their chief risk officer and general counsel before transitioning into international leadership as global chief compliance officer for ING Group. She has also held senior roles with Barclays Africa and Deutsche Bank London.
Upon returning to Australia, Loewenthal joined Deloitte as a partner in the Governance, Regulation and Conduct Solutions team. She also rejoined the board of the Australian Compliance Institute, first as a director and later as chair. At Deloitte, she advised Australian organisations on strengthening compliance systems and leveraging technology to optimise operational performance.
Loewenthal is also a non-executive director of Autism Association of Australia Limited and an external, independent Compliance Committee member for DFA Australia, relating to its wholesale trusts.
AFCA chief ombudsman and chief executive David Locke welcomed the appointment.
“Heather brings a wealth of experience in financial services, governance and compliance, both in Australia and overseas. She has worked with regulators, government and industry through major reforms, and understands what it takes to build systems that work in practice,” Locke said.
“The committee plays an important role in helping make sure the Code works as intended. Heather’s experience will help support high standards across the industry and fair outcomes for consumers.”
He also thanked outgoing chair Veronique Ingram.
“Veronique has made an outstanding contribution during her six years as Chair. Her leadership, insight and dedication have played an important role in strengthening the Committee’s independent oversight of the Code and supporting better outcomes for consumers,” he said.
“On behalf of the Committee, I thank Veronique for her service and the lasting impact she has had on accountability and good industry practice across the sector.”
Other recent changes in the insurance compliance world include the final review of the Life Code coming out last week, which had 85 recommendations, including:
- Industry commitments and communication on mental health cover and support;
- Support for customers experiencing vulnerability;
- Engaging with First Nations customers;
- Claims handling, including timeframes and communication during claims; and
- The provisions for compliance and enforceability for the Code.
Loewenthal will commence a three-year term as Chair from 1 July 2026.
