ANZIIF Support Proposed Amendments To The General Insurance Code Of Practice

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) is supportive of the proposed amendments to the General Insurance Code of Practice, as outlined in the initial review report.

The General Insurance Code of Practice is a voluntary framework that sets the standard for general insurers in delivering fair, transparent and high-quality services to customers.

Every three years, the Code undergoes an independent review, to ensure its continuous improvement in line with industry developments and evolving customer needs.

The initial report detailing proposed updates to the Code addresses several key issues such as financial hardship, customer vulnerability, the Code’s interaction with legal frameworks, its application to small businesses, and improvements to claims handling and management procedures.

At ANZIIF, we recognise the importance of having a Code that reflects the needs of today's insurance landscape, particularly in supporting vulnerable customers. Ensuring that insurers are equipped to meet the needs of those facing hardship is critical to delivering positive customer outcomes.

In line with the Code, ANZIIF will be launching a short course, entitled ‘Creating Good Outcomes for Customers Experiencing Vulnerabilities’, at the end of September. The course is designed to help insurance professionals better understand and respond to customers in vulnerable positions.

“We know Industry is committed to continuing to improve outcomes for consumers and we are working closely with them to develop professional development resources that will address areas of industry improvement”, says ANZIIF CEO, Katrina Shanks.

To learn more about The General Insurance Code of Practice click here. Visit the ANZIIF website at anziif.com.

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