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ARTICLE · 19 JANUARY 2013

General Insurance Code of Practice - Issues Paper released by Insurance Council of Australia

Norton Rose Fulbright Australia
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The Issues Paper forms part of the wider review of the General Insurance Code of Practice, which was commenced in 2012.

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October 2012 saw the release of an Issues Paper in relation to the General Insurance Code of Practice (the Code), by Independent Reviewer Mr Ian Enright. Mr Enright, on behalf of the Insurance Council of Australia, has called upon stakeholders to provide feedback on 110 questions, relating to 17 key issues surrounding the operation of the Code in the Australian general insurance industry (the Review).

The Issues Paper forms part of the wider general review of the Code which was commenced earlier in 2012. The backdrop to the Review, as Mr Enright explains is threefold: the 2010/11 natural disasters and the role of insurance in recovery from such disasters, the competitive and volatile nature of the insurance market and finally, the speed and scale of legal and regulatory changes in the industry.

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