The Insurance Council of Australia (ICA) has released its new code of practice for general insurers in a bid to improve the industry’s image.

The code was developed by the ICA, in conjunction with the general insurance industry. While the code is voluntary, all ICA members – comprising 90 per cent of the market – will adopt it. The code covers issues such as timeframes for handling claims and complaints, fast tracking claims for clients in financial hardship, reviewing natural disaster claims, giving reasons when cover cannot be provided and better dispute handling.

ICA president Michael Hawker, also IAG CEO, said the code would have a genuine impact on policyholders. “As an industry, we were conscious that consumers now have higher expectations about service delivery and we have addressed these expectations in the code. For example, claims are the critical touch point for customers of insurance companies,” he said.

“They want to know what they can expect when a claim happens, when they will hear from their insurer and that their claim will be dealt with fairly, honestly and efficiently. This is all set out in the code.”