The first General Insurance Code of Practice was introduced in 1994 and was one of the first of its kind in Australia.
The Code has been reviewed four times — in 1998, 2006, 2009 and 2012 — and improvements were made to ensure the Code remained relevant and met the needs of consumers.
For example, after the season of natural disasters in 2010-11, most notably the Queensland floods and Cyclone Yasi, improvements were made to the catastrophe provisions in the Code in response to public feedback.
The 2014 Code follows a 12-month comprehensive independent review.
Prior to the 2014 Code, the previous codes applied: