The Code of Practice is the general insurance industry’s promise to be open, fair, and honest in the way
it deals with all customers.
Insurance companies and organizations that have signed up to the Code have agreed to assist consumers in
six key areas related to insurance.
Buying insurance
When you provide information to an insurer, you can be confident that only relevant information will be
used to assess your application. If the company can’t provide you with cover, you’ll be given reasons for
the decision and will be referred to information regarding alternative insurance options.
Making a claim
Australian general insurers pay an average of $70 million in claims each working day and the Code speeds
up this process. If you are making a claim and have provided your insurer with the relevant information
and no further assessment is required, you’ll be notified of their decision within 10 business days.
Time of need
If you are in financial hardship because of loss or damage resulting from the event causing your claim, the
Code states that your insurance company will fast-track your claim or make an advance payment to alleviate
your immediate hardship.
Repairing your property
If an insurer selects and directly authorizes a repairer, the insurance provider will accept responsibility
for the quality of repairs, materials and agrees to handle any complaints that may arise regarding the
quality of the repairs.
When disaster strikes
Natural disasters can impact entire communities and the Code states that insurers should be flexible and
understanding when helping those affected. Insurers will provide a cooling-off period following a natural
disaster so that you have time to assess the damage to your property and assets, ensuring your claim includes
everything that has been lost or damaged.
The Code requires insurers to make available to consumers up-to-date, clear, concise information to assist in
the understanding of how general insurance works so you, as the consumer, can make an informed decision.
Copies of the General Insurance Code of Practice are available at
codeofpractice.com.au (Warning: Not a secure link).