The Insurance Council of Australia has published a new draft General Insurance Code of Practice (2026 Code) for consultation.
The Code will apply to all retail general insurance products, including home contents, building, car, pet and travel insurance and some commercial insurance for small business.
It covers a range of wholesale products, including small business and commercial insurance, and farm and primary industry.
Changes include:
* pending ASIC approval, the Code will be legally enforceable in consumer insurance contracts;
* home and motor claims will be automatically accepted after 12 months where no decision has been made, subject to defined exceptions;
* new supporting guidance on dealing with vulnerable customers;
* the definition of family violence now covers family and domestic violence, including financial abuse and coercion, and with key protections becoming contractually enforceable insurer obligations; and
* guidance addressing mental health will become contractually enforceable.
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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.
