The Council of Australian Life Insurers (CALI) has released a statement supporting a ban on the use of genetic testing results in insurance underwriting.
Genetic testing has become vastly more popular, accessible and affordable in recent years, with companies like Genetic Technologies Limited (ASX:GTG, NASDAQ:GENE, OTC:GNTLF) offering comprehensive genetic breakdowns that can detect and predict disease and enable personalised preventative healthcare plans.
Read: Genetic Technologies: revolutionising preventative healthcare
Moving beyond genealogy testing and firmly into the healthcare realm, modern genetic testing is a potentially game-changing tool in preventative medicine which could fundamentally alter the way we approach illness.
Unfortunately, it could also potentially be used to discriminate against people with predispositions to disease, an abuse of the technology the ban is designed to prevent.
Regulation needed and desired
“With genetic testing becoming more prevalent in the community, now is the time for Federal Government regulation to ensure that no Australian is deterred from taking a genetic test to proactively manage their health,” said CALI CEO Christine Cupitt.
CALI says its 19 members recognise the important role genetic testing can play in “giving people peace of mind and empowering them to reduce potential health risks".
“It has never been the intention of the life insurance industry to deter people from taking genetic tests that give them more information about their overall health,” Cupitt said.
“Australia’s life insurers have never, and would never, require someone to take a genetic test for the purposes of underwriting.”
To that end, CALI made a submission to the Treasury inquiry on this issue supporting strict regulation on the use of genetic testing in underwriting, with limited government-approved exceptions to guarantee fairness.
“We want to deliver the protection and certainty millions of Australians need on their best and worst days,” Cubitt emphasised, “Declining to offer cover is rare and only ever a last resort.”