Joint submission with the Consumers’ Federation of Australia to the National Insurance Brokers Association draft code of practice review. We welcome many aspects of the draft Code, such as the commitment that all NIBA members must subscribe to it, the application of the Code to prospective clients, clarity about the limitations of advice, clear communication more generally, the application of the Code to agents, and that where an issue is covered by the provisions of two codes, the higher standards will apply. However there are still a few places where the tone of the previous draft appears to have been retained, with highly hedged statements.
