General Insurance Code of Practice

The Australian insurance industry has developed the General Insurance Code of Practice to help consumers get a better understanding of insurance products and provide benchmarks for dealing with claims and complaints.

CommInsure is proud to be a signatory to the Code.

To read the Code, or get more information, visit www.codeofpractice.com.au

The new General Insurance Code of Practice at a glance

In 1995 general insurers created Australia's first General Insurance Industry Code of Practice.

On 1^st May 2010 the industry launched its new Code of Practice.

Developed in concert with consumers, business and the insurance industry, the new code is the general insurance industry's commitment to be open, fair and honest in all its dealings with customers.

The new Code enshrines the industry's promise to improve customer service across all types of general insurance - for both individual consumers and business customers.

The new Code goes above and beyond current regulation as many of the standards in the existing code were absorbed into the Financial Services Reform Act (FSRA).

Delivering standard to consumers

Signatories to the new Code are responsible for ensuring that not only their employees but also their Authorised Representatives and their Service Providers meet or exceed the standard set out in the new code.

Buying insurance

When customers provide information to a Code signatory, they can be confident that only relevant information will be used to assess their application for insurance.

If insurers are unable to provide cover, they will give reasons for the decision and they will refer customers to another insurer, the Financial Ombudsman or the National Insurance Brokers Association (NIBA) for further information about insurance options.

Claims handling

Responding to claims is what insurance is all about. Australian general insurers pay an average of $55 million in claims each business day and the new Code is designed to speed up the claims process.

If a customer makes an insurance claim and has provided all the relevant information and no further investigation is required, the insurer will make a decision and notify the customer within ten business days.

Financial hardship

The Code recognises that when people are in dire need as a result of loss or damage, insurers should respond by fast tracking claims or making advance payments.

Repair workmanship and materials

When a Code signatory selects and directly authorises a repairer, they accept responsibility for the quality of repairs and materials and agree to handle any complaints about the repairs.

Responding to disasters

The new Code is compassionate - it recognises that when natural disasters strike, the insurance industry needs to be flexible and understanding in helping affected communities.

The new Code includes a cooling off period for people making claims following a natural disaster and it codifies the role of the Insurance Disaster Response Organisation in providing an industry wide response to natural disasters.

Information and education

People need information about insurance to make informed decisions. The new Code requires insurers to make available up-to-date, clear, concise information available to help the community understand how general insurance works.

The Code is also written in plain language so that it is easy to read and understand.

Complaints handling

If a customer is unhappy with the service they receive or a decision about an application or claim, Code signatories are required to inform them of how to make a complaint.

The new Code also has clear and agreed timeframes for responding to complaints.

Monitoring and enforcement

The industry is committed to the benchmarks in the new Code and welcomes the scrutiny provided by the Financial Ombudsman Service which will monitor each signatory's compliance with the new Code.

In the event of a Code breach, the signatory can be required to undertake remedial action or may have sanctions imposed upon them.

Frequently Asked Questions

What is a Code of Practice?
A Code of Practice sets out agreed standards and responsibilities for companies and organisations, or for whole industries.

Why do we need a new General Insurance Code of Practice?
Introduced in 1995 to widespread praise, the original General Insurance Code of Practice was the first industry Code in Australia to link voluntary standards and dispute resolution, but many of those standards are now covered by government regulation. The new Code was developed to go beyond current regulation and to reflect changing community expectation and attitudes towards insurance.

Who was involved in developing the new Code?
The new Code was developed with consumers, business and the insurance industry. It involved a five  month public consultation process to give people the opportunity to have their say on what they would like in the new Code, and included an independent review of all the submissions received.

What types of insurance are covered by the new Code?
Nearly all types of general insurance, from house insurance and car insurance to multi-million dollar business insurance are included in the Code.

The only types of general insurance that are not included are reinsurance (insurance for insurers) and insurance that has specific rules under government statue, like Compulsory Third Party insurance (CTP), Workers' Compensation, Marine insurance and Medical Indemnity insurance. Life Insurance and Health Insurance are also not included.

Will I understand the Code?
The Code is written in plain language and has been divided up into sections that reflect the experiences consumers have when they interact with an insurance company.

Where can I find a full copy of the Code?
The full Code is available at www.codeofpractice.com.au

How will the Code be monitored?
Each company that has signed up will be monitored by the Financial Ombudsman Service to make sure they are meeting the standard in the Code. If a company falls short, it can be required to take action to fix the problem and sanctions may be imposed.

Who will adopt the standards set out in the new Code?
All members of the general insurance industry are encouraged to adopt the standards set out in the new Code. It is not limited to insurers.

The Insurance Council of Australia's members represent more than 90% of the general insurance market in Australia, and adopting the standards in the new Code is a condition of membership.

How will the new Code be implemented?
To make sure that the standards are met or exceeded, each signatory will implement the standard in the way that is most appropriate for their business.

Complaint and dispute resolution processes – General Insurance

At CommInsure, we put our customers at the centre of everything we do.  Our team is ready to listen and help you with any problem or complaint you might need resolved.  Our Complaints process provides information on how to contact us.

If you believe we have failed in our commitment to protect your privacy

The protection of your personal information is something we take very seriously.

We protect your personal information in accordance with the National Privacy Principles and relevant industry privacy codes.

The Commonwealth Bank Group's (‘the Group’) Privacy Policy Statement provides information including what to do if you have questions, would like make a privacy complaint or would like further information on our privacy and information handling practices privacy.

What if I have a complaint which does not relate to General Insurance?

If you have a complaint, we want to know. So please tell us and we promise to do something about it - and get back to you. To register a complaint, or get more information, visit the Commonwealth Bank Group’s Complaints and Compliments page