The Haynes Royal Commission recommendations are coming into effect very soon. Requirements are already being made by the large general insurers for investigators and claims investigators to be compliant with parts of the Code by 1 July 2020. The Insurance Council of Australia (ICA) will enforce a new General Insurance Code of Practice (GICOP) from 1 July 2021. The new Code of Practice is likely to be considered ‘best practice’ for the insurance industry and, ultimately, to be adopted across other lines of insurance. This cross pollination has already been implemented with some of the elements of the revised ‘Life’ Code of Practice being incorporated into the new GICOP and lability insurers are requiring investigators to have training in vulnerability, domestic violence and financial hardship already.
The new GICOP was to have been rolled-out from 1 January 2021 but due to the COVID-19 pandemic, this has now been pushed-back 6 months to 1 July 2021.
Key features of the GICOP include training for staff in respect of vulnerability and financial hardship and insurers are required to have policies on supporting customers experiencing family violence and enhanced financial hardship provisions.
Importantly for investigators, the GICOP requires that all insurance investigators are familiar with the investigation standards set down in the Code which include timeframes for communicating with the customers , responsiveness in respect of requests for information and requirements on how the interviews should be conducted.
In May 2020 (ICA) announced changes to the implementation of the new 2020 GICOP due to the unparalleled impact COVID-19 has had on the industry and its customers.
- From 1 July 2020, or earlier if possible, fast-track support for customers as intended by the provisions in Parts 9 (Supporting customers experiencing vulnerability) and 10 (Financial Hardship) of the Code. The start date for full technical compliance with Parts 9 and 10 remains by no later than 1 January 2021.
- From 1 July 2020, insurers are required to have a family violence policy on their website.
- From 1 July 2021, all remaining Code provisions start. This extends the implementation period by six months.
For investigators and claims handlers the ANZIIF have rolled out training to support compliance with the Code of Practice. Further information on
‘Claims investigation standards and the General Insurance Code of Practice 2020’
This learning solution contains the following sections:
• General Insurance Code of Practice
– The long and the short of it
– What the Code means for the customer
– Caring for the customer
– What good service looks like
– The technical stuff
– Understanding Vulnerability and Financial Hardship
– Respectful communication
– (Optional) Leader guide for supporting conversations with staff
• Claims investigation standards
For $90 investigators can obtain the training they require to continue to deliver services to the industry and remain competitive within the market. MyKludo supports the use of independent investigators to deliver services direct to clients recognising that personal professional development is a critical part of being an independent investigator and is critical in providing excellence in service to clients.Learn more