Comply with General Insurance Code of Practice (ICA)
ICA Code binds member insurers on conduct + claims + complaints.
Who must comply
ICA member general insurers + their distribution partners.
What triggers it
ICA membership.
When due
Continuous; CGC monitoring.
Evidence required
Code subscriber; complaint data; vulnerability + hardship records.
Max penalty
Code-based; reputational + AFCA reliance on Code in determinations
Summary
The Insurance Council of Australia's General Insurance Code of Practice 2020 binds member insurers on commitments around buying, claims, complaints, vulnerability + financial hardship. Monitored by the Code Governance Committee with public reporting.
Enforced by
Industries
Topics
Source: https://insurancecouncil.com.au/cop. Rules Mate is not a law firm. Always verify against the live regulator source before acting.