The independent body that will oversee the revised general insurance code of practice and ensure it is effectively monitored and enforced has been appointed.
The inaugural members of the code governance committee (CGC) are Lynelle Briggs AO as independent chair, Julie Maron as consumer representative and former FM Global
vice president Ian Berg as insurer representative.
The CGC is appointed by the Code Governance Association (an incorporated association under NSW law), and it replaces the former code compliance committee. The CGC is a separate and independent entity from the ICA and code signatories.
The duties of the CGC, which are set out in the code and the CGC charter, include:
- Receiving reports of possible code breaches from the Financial Ombudsman Service
- Investigating reports of alleged code breaches and making determinations
- Agreeing with code subscribers on any corrective measures to remedy code breaches and monitoring their implementation
- Imposing sanctions on code subscribers in certain circumstances
- Receiving compliance reports from code subscribers
- Publishing an annual report on the activities of the CGC
- Providing any recommendations on code policy improvements in its quarterly reports to the ICA Board
ICA CEO Rob Whelan welcomed the CGC members, noting the breadth and relevance of their experience.
“The revised code sets a benchmark for industry self-regulation in Australia, and the members of the code governance committee set their own benchmark in terms of the skills they bring to their roles,” Whelan said.
“Lynelle Briggs worked with the Australian Public Service for more than 30 years. She was chief executive of Medicare from 2009 to 2011 when Medicare was integrated into the Department of Human Services, and was an Australian Public Service commissioner for five years.
“Ian Berg recently retired as vice president and operations manager Australia for FM Global
after 35 years with the group, and spent five years as a director on the ICA Board.
“Julie Maron, senior solicitor with Legal Aid NSW, was the consumer representative on the former code compliance committee and represented consumers on the code advisory panel, which worked with Ian Enright during his independent review of the code.”