Insurance Brokers Code of Practice
Code of Practice
Cowden Insurance Brokers subscribe to the Insurance Broking Code of Practice (the Code) which is published by the National Insurance Brokers Association (NIBA).
The Insurance Brokers Code of Practice demonstrates the Australian insurance broking industry's professional commitment to its clients. The Code applies to the relationship between insurance brokers and their clients. It describes key service standards that clients can expect from brokers, as well as an overview of the complaints and disputes handling process. The Code has been specifically developed by the National Insurance Brokers Association (NIBA) to be a user-friendly and helpful tool for both insurance brokers and their clients.
The Code aims to:
Build upon the professional competence in the broking profession; and
Increase consumer confidence in insurance brokers and increase knowledge of the important role they play.
The Code Principles:
Professional commitment
Ethical behaviour
Transparency and accountability
The Code is monitored by the Insurance Brokers Code Compliance Committee (the Committee). The Australian Financial Complaints Authority (AFCA) provides Code monitoring and administration services to the Committee. AFCA has appointed a dedicated team of staff (the Code team) within its office to undertake that task.
To obtain a copy of the Insurance Brokers Code of Practice, click here.