Corporate governance

Defence Health Limited is committed to the high standards of corporate governance. Our Board of Directors is highly experienced, is independent of management and has established strong risk management and internal control frameworks. 

Company structure

Defence Health Limited is a company limited by guarantee, incorporated and operating in Australia. The ‘members’ of the company include the Chief of Army, Chief of Air Force and the Board.

We’re a not-for-profit, restricted access private health insurer. We were established in 1953 to insure the families of Australian Defence Force members and the wider Defence community.

The Board has ultimate responsibility for the operation of the business. The following committees provide expert advice to the Board.

  • Audit Committee to oversee the audit function and the financial condition of the company.
  • Risk Committee to oversee the risk management and internal control frameworks of the company.
  • Investment Committee to manage the company’s investment portfolio.
  • Nomination and Remuneration Committee to oversee Board and senior management appointments and remuneration.

Reporting and disclosure

Our health insurance operations are currently regulated by the Australian Prudential Regulation Authority (APRA). The Australian Securities and Investment Commission (ASIC) monitors our corporate responsibilities and the conditions of our Australian Financial Services Licence. Our members can access the services of the Commonwealth Ombudsman for health insurance matters and the Financial Ombudsman Service for other financial services matters.

Ethical behaviour

Our corporate code of conduct provides clear guidance to staff on expected standards of behaviour. Defence Health is also a signatory to the Private Health Insurance Code of Conduct, with a commitment to communicate to members in plain and understandable language; provide relevant information to members in their decision making; ensure they deal with trained and knowledgeable staff; and provide members with easy access to dispute resolution processes.

Risk management

Our risk management framework, including the Board's risk appetite, supports the achievement of strategic objectives, prudent financial management, positive risk culture and safe and ethical business practices. 

For more information

Download our Governance Framework.