While insurers comply with their obligations under the General Insurance Code of Practice (Code) in most circumstances, there are important opportunities for improvement. That’s according to Jared Orth, Senior Manager Code Compliance and Monitoring for the General Insurance Code Governance Committee (CGC).

“In the past year, across almost 43 million insurance claims there were roughly 67,000 breaches of the Code reported, down 13% from last year. However, we also saw complaints increase by 18% to 1.4 million.”

Orth says the Code represents “a real commitment by insurers to meet community needs and expectations, and the standards that are expected of them.”

However, he adds that the two recent inquiries into insurers’ responses to the 2022 floods, one from the Insurance Council of Australia and the other, a parliamentary inquiry, have seen the industry fall short of those expectations.

“The current review of the General Insurance Code of Practice is an opportunity for insurers to raise standards and better serve the community,” he says.

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