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Indicative Timelines

Indicative Timelines

The review of the 2020 General Insurance Code of Practice will be conducted in two phases to align with any recommendations from the Federal Parliamentary Inquiry into insurers’ responses to 2022 floods, with the opportunity for stakeholders to provide views on Phase 2 early during Phase 1 in recognition of the interconnectivity of issues.

The first phase will focus on general topics that are not directly related to the floods, such as support for vulnerable customers and the interaction between the Code and existing laws, and governance, with initial findings and recommendations to be delivered by 30 June 2024.

The second phase will focus on flood related topics, such as the responses required when a catastrophe occurs, and will deliver findings by 30 June 2025.

Indicative timelines as of 1 March, 2024

At this time, the Review Panel is working towards: 

  • Late March/early April 2024: Publication of Phase 1 Consultation Paper
  • April/May 2024: Submissions due (4-6 weeks’ consultation)
  • Late June/early July 2024: Publication of the Review Panel’s Interim Report