About the General Insurance Code of Practice

The General Insurance Code of Practice (Code) is the general insurance industry's promise to be open, fair and honest in the way it deals with customers. The Code was first developed and introduced by the Insurance Council of Australia in 1994.

In 2005 a revised Code, building on the previous Code's framework, was developed by the Insurance Council and its members - the focus was on the Code being a voluntary set of standards to be upheld by insurers.  It commenced operation in July 2006 and is monitored and enforced by the Financial Ombudsman Service.  It is designed to operate in conjunction with the regulatory framework within Australia that applies to the general insurance industry.

The Code commits insurers to high standards which they uphold in the services they provide to their customers.  These standards apply when selling insurance, dealing with insurance claims, responding to catastrophes and disasters, and handling complaints. 

The Code applies to all general insurance products except those expressly excluded.  For example, it applies to: home building; home contents; comprehensive motor vehicle insurance; travel insurance; consumer credit; and sickness and accident. It does not apply to workers compensation, marine insurance, medical indemnity insurance and compulsory third party insurance including where there is linked driver protection cover.  It does not cover reinsurance.

The General Insurance Code of Practice document is available to download.  Additional information about the Code is also available at www.codeofpractice.com.au