In 1994, the first General Insurance Code of Practice was launched. It was one of the first Codes of this nature in Australia.
So far, the Code has been reviewed and improved four times: in 1998, 2006, 2009 and 2012. This review process is there to ensure that the Code remains relevant and continues to meet the needs of consumers.
For instance, after the 2010-11 season of natural disasters (most notably the Queensland floods and Cyclone Yasi) feedback from the general public was taken into account. As a result, the catastrophe provisions in the Code were improved and updated.
The 2014 Code follows a 12-month comprehensive independent review.
Prior to the 2014 Code, the previous codes applied: