Governance and monitoring
The Code Governance Committee (CGC) is the independent body that monitors and enforces insurers' compliance with the Code.
The duties of the CGC are set out in its Charter, and include:
- receiving compliance reports from Code subscribers
- receiving reports of possible Code breaches from the Financial Ombudsman Service
- receiving reports of alleged Code breaches from consumers
- investigating reports of alleged Code breaches and making determinations
- agreeing with Code subscribers any corrective measures to remedy Code breaches and monitoring their implementation
- imposing sanctions on Code subscribers if breaches are not corrected, such as a requirement that particular rectification steps be taken, that Code subscribers place corrective advertising, and/or publication by the CGC of a Code subscriber’s non-compliance
- publishing an Annual Report on the activities of the CGC
The Code Governance Committee will outsource its day-to-day Code compliance monitoring work to the FOS Code Compliance team, as occurred under the previous codes of practice.
Anyone can report an alleged breach of the Code to the CGC at email@example.com.
You should receive an acknowledgement email to confirm your message has been received by the Code Compliance team at FOS. If you have not received this acknowledgement email, please contact the Code Compliance team on firstname.lastname@example.org or 1300 78 08 08.
As of July 1, 2014, the CGC has taken over from the former Code Compliance Committee, which monitored insurers under the previous codes of practice.
Code Governance Committee's annual reports
The Code Governance Committee’s 2015-2016 annual report outlines its activities from July 1, 2015 to June 30, 2016, including information about the number of matters referred to the Committee and sanctions imposed.
Click here to view the Code Governance Committee's 2015 - 2016 Annual Report.
Click here to view the Code Governance Committee’s 2014 - 2015 Annual Report.
General Insurance Industry Data Report 2014-2015
Click here to view the General Insurance Industry Data Report 2014-2015