The Insurance Council of Australia (ICA) has launched a review of the General Insurance Code of Practice (the Code) to ensure it remains relevant and keeps pace with recent developments affecting the industry.

This came about as a result of two current Senate inquiries examining the general insurance industry as well as the Ramsay review of the external dispute resolution framework, the General Insurance Code Governance Committee’s own-motion inquiry into claims investigations and outsourced services and the commencement of the Financial Services Council’s Life Insurance Code of Practice.

The review is examining the following areas:

  • standards for employees and authorised representatives;
  • standards for service suppliers;
  • financial hardship;
  • complaints and disputes;
  • monitoring; and
  • enforcement and sanctions.

The review is also considering whether the Code should be expanded to cover additional areas of insurer behaviour.

For further information, see the ICA’s media release.


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