Tue, 13th May 2025

Paige Estritori's weekly podcast for Financial Services Online unveils the Insurance Brokers Code Compliance Committee's call for greater transparency and reform in the Australian insurance industry. Central to their recommendations is enforcing claims timelines with regular updates, extending policy renewal notifications, and increasing protections for small business clients. To increase accountability, the committee proposes a named reporting system for breaches. They are also advocating for a five-year review period for the code and secure funding for independent investigations, intending to boost consumer trust in the industry. A full draft report of recommendations is expected next month. Tune in to Estratori's regular updates for more insights on these proposed changes.