New general insurance code of practice

A 12-month period for insurers to transition to the revised General Insurance Code of Practice ended on 30 June 2015.

The Code sets out standards of service that general insurers must meet when consumers are buying insurance, making claims, experiencing financial hardship, requesting information, or wanting to make a complaint.

If an insured has gone through the complaints process set out in the Code, and they are not satisfied with the final response from their insurer, they can take their dispute to the Financial Ombudsman Service.

Subscribers to the Code include 49 general insurance companies and more than 100 Lloyd’s Australia participating coverholders.

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