Insurance Brokers Code of Practice

We support the Insurance Brokers Code of Practice (‘the Code’). The Code sets out standards of conduct for all Members of the National Insurance Brokers Association (NIBA) and non-members who have subscribed to the Code.

For further information about the Code please refer to the brochure by clicking the button below or contact us.

VIEW BROCHURE (2022 Insurance Brokers Code of Practice PDF)

WHAT IS THE INSURANCE BROKERS CODE OF PRACTICE?

  • The Code is independently monitored and enforced by a Code Compliance Committee – the Insurance Brokers Code Compliance Committee (IBCCC).
  • The Code provides additional safeguards for clients that are not set out in the law. In some areas, the Code sets higher standards than those required by law. No part of the Code limits, or is intended to limit, a client’s rights under the law.
  • The Code represents the commitment of Code Subscribers to clients, prospective clients and other parties with whom Code Subscribers interact in performing services.
  • The Code serves to guide Code Subscribers and consumers on what to expect throughout the client journey. It sets out the principles that shape the way Code Subscribers behave, deal with people and make decisions.
  • This version of the Code was developed following close consultation with key stakeholders, including consumer groups, regulatory bodies and the broader intermediated insurance industry.
  • The Code is accompanied by Code Subscriber and consumer information intended to provide guidance on certain topics referred to in the Code, including outlining Code Subscriber best practice, as well as helping consumers understand their rights under the Code.
  • Consistent with the commitment of NIBA and Code Subscribers to continuous improvement, this Code will be reviewed at least every three (3) years and whenever an urgent amendment is deemed necessary by the NIBA Board.