General Insurance Code of Practice
In July 2006 the Code of Practice came into being. The Code sets out minimum service standards for Insurers and their key providers such as Cerno. The Insurance Ombudsman Service (IOS) is responsible for monitoring compliance with the Code. If we fail to meet our obligations under this Code sanctions may be imposed.
One of the key objectives of the Code is to commit insurers and the professionals they rely upon to higher standards of customer service. Some of those standards include:
- Contact with insured at least every 20 business days.
- Response to requests for information within 10 business days.
Cerno has a major role to play in assisting our customers to comply with the new code. We are pleased to report that all staff that need to, have completed the Cerno Code of Practice training course, so we are now all aware of the requirements of the Code.
Our own KPI’s have been revised to at least match the code, although most exceed the code. Insurers are now asking for detailed reports on non-compliance with the code. No doubt action will be taken if we fail to live up to industry expectations. All we need to do is be compliant with our own KPI’s to ensure compliance with the Code. More information about the General Insurance Code of Practice can be found at http://www.codeofpractice.com.au/home.aspx
