About the Code
The Insurance Brokers Code of Practice
The 2022 Insurance Brokers Code of Practice (the Code) sets standards of good industry practice for insurance brokers when dealing with current and prospective individual and small business clients.
The Code is owned and published by the National Insurance Brokers Association (NIBA) and forms an important part of the broader national consumer protection framework and financial services regulatory system.
It includes sections that guide insurance brokers who subscribe to the Code how to act when providing insurance broking services to consumers.
The objective of the Code is to build professional competence in the insurance broking profession; and increase consumer trust and confidence in insurance brokers.
The Committee is an independent Committee that monitors adherence to the Code while also providing education and support to subscribers. The Committee works proactively with subscribers to guide compliance improvements. The Committee has the authority to sanction insurance brokers if they do not take corrective action after breaches.
To assist Code subscribers with transition and implementation of the 2022 Code, the Committee have developed a Frequently Asked Questions page.