General findings and insights of good practice drawn from breaches of the Insurance Brokers Code of Practice self-reported by Code subscribers in 2019 and 2020.

The independent committee that monitors the Insurance Brokers Code of Practice (the Code) has published its findings and insights of good practice drawn from self-reported Code breaches over the past two years.

The report can be accessed here.

The Insurance Brokers Code Compliance Committee (the Committee) engaged a consultant to review detailed self-reported anonymised breach data from 2019 and 2020. The report identifies key drivers for the industry to consider, methods used to promote specific good behaviours and recommends actions that would further the Committee’s future understanding of the prevalence of good behaviours across the insurance broking industry.

This important research has resulted in significant insights into the underlying themes, behaviours and often unconscious biases that drive poor behaviour in the insurance broking industry.

Insight will inform the Committee’s work and will help shape its future activities and emphases, enabling it to respond to the findings by encouraging and contributing to positive change for industry and clients.

The report was discussed in a webinar presented by the Committee’s Chair Michael Gill and Ravi Dutta-Powell, Senior Advisor at The Behavioural Insights Team (Australia) Pty Ltd.