We highlighted how the Insurance Council of Australia is the industry group for Australian insurance companies on our Daily Post Post A Little Bit about The Insurance Council of Australia.
But, did you know they have a Code of Practice for those insurers as well?
Well, they do and it’s voluntary, but a lot of insurers [including some strata insuerers] have adopted it as you can see here.
@ICA says that ‘The Code is intended to be a positive influence across all aspects of the general insurance industry including product disclosure, claims handling and investigations, relationships with people who are experiencing vulnerability, and reporting obligations.’
The Code has 4 themes:
value, transparency and fairness of products and services,
trust, integrity and respect,
accessibility and additional support, and
resolve any concerns and work to prevent future concerns.
Plus, for strata buildings customers Part 4 covers insurance policy distribution practices [see Rule 34]. Part 5 covers secondary insurance supplier behaviour [see Rule 41], Part 6 covers insurance sale information and practices [see Rules 43, 49] and Part 11 covers who can make a complaint.
You can read the @ICA Code of Practice here if you think you might have an entitlement to make a complaint.