ICA Welcomes Inaugural Code Governance Committee Members
Targeted News Service |
The CGC is appointed by the
The inaugural members of the CGC are Lynelle Briggs AO as independent chair,
ICA CEO
"The revised Code sets a benchmark for industry self-regulation in
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The duties of the CGC are set out in the Code and the CGC charter, and include:
* Receiving reports of alleged Code breaches from consumers
* Receiving reports of possible Code breaches from the Financial Ombudsman Service
* Investigating reports of alleged Code breaches and making determinations
* Agreeing with Code subscribers on any corrective measures to remedy Code breaches and monitoring their implementation
* Imposing sanctions on Code subscribers in certain circumstances
* Receiving compliance reports from Code subscribers
* Publishing an annual report on the activities of the CGC
* Providing any recommendations on Code policy improvements in its quarterly reports to the ICA Board
The revised General Insurance Code of Practice came into effect on
For further information on the General Insurance Code of Practice: www.codeofpractice.com.au
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