The Insurance Council of Australia Board has released a new General Insurance Code of Practice which sets out standards that are beyond legal requirements.
ICA members and other Code participants will start to transition to it from 1 January 1, 2020, with all Code signatories to be compliant by January 1, 2021. All Code signatories will also be required to introduce and implement a publicly available policy to support customers affected by family violence by July 1, 2020.
The Code sets out standards for insurers, distributors, service suppliers
The claims investigation standards include timeframes for updating a customer on the investigation process, requirements regarding requests for information and requirements as to how the investigation interview should be conducted.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
