When an insurance broker breaches the Code
What to do if you have concerns or a complaint
Anyone can contact us if they believe an insurance broker has breached the Insurance Brokers Code of Practice.
If you are concerned that your insurance broker is breaching the Code, you can refer the matter to us for investigation. The Insurance Brokers Code Compliance Committee’s (the Committee) role is to monitor compliance and investigate breaches against the Code. The Committee will then recommend corrective action if needed.
When the Committee can investigate
The Committee can only investigate in the following circumstances:
- The insurance broker must be a subscriber of the Code.
- The service took place in Australia.
- The matter must involve an individual or small business.
- The issue must be covered in the Code.
When the Committee cannot investigate
If you would like a specific outcome such as compensation, an apology, or for your problem to be fixed – you should make a complaint to your insurance broker or the Australian Financial Complaints Authority.