• Draft Insurance Brokers Code of Practice - Member Consultation

  • Welcome

  • Your Voice, Your Code — have your say on the draft Code

    NIBA has released the draft of the next Insurance Brokers Code of Practice for public consultation, following the Independent Review and two rounds of member consultation. This survey asks for your view on the draft as written — is it clear, and does it work in your firm?

    • You do not need to answer every question. Focus on what is most relevant to your practice.
    • Almost every question is multiple choice — you can click through it quickly.
    • You can save your progress and return later.
    • The draft Code, the 2022-to-new comparison, and the What We Heard report are available alongside this survey.
    • Submissions close: 5:00 PM AEST, Friday 7 August 2026.

    For the reasoning behind each position, see the Consultation Paper and the What We Heard report.

  • About You

    These details help us understand the range of perspectives in our consultation. All fields are optional unless marked required.
  • Primary client based (Select all that apply)

  • The draft Code overall

  • 1. Is the draft Code clearer to navigate than the current Code?*
  • 2. The draft is built on a set of Code Principles (the professional standards clients can expect) that the specific obligations give effect to. Does that principles-led framing feel right for a broker professional code?*
  • 3. The draft uses a two-tier structure — interpretive Code Principles (Section 3) then enforceable Obligations (Sections 4–14), each section opening with a plain-English “About this section” intro. Does that structure make the Code easier to use day to day?*

  • Conflicts of interest (Section 6)

    For all recommendations NIBA is implementing, we invite your views on the following cross-cutting issues.
  • 4. The draft consolidates conflicts into a single framework: identify conflicts, avoid those you can’t manage in the client’s best interests, disclose conflicts to the client, and manage them with the client’s consent. Is that framework practical in your firm?*
  • 5. Where do you most need guidance or worked examples on conflicts?*

  • Remuneration disclosure (Section 7)

  • The draft sets out when we must disclose remuneration.

    Proactively:

    1. for general-insurance retail products, to every client who is an individual or small business (Corporations Act test); and
    2. for all strata insurance — residential and commercial — to the client, which for strata is the owners corporation itself, not the strata manager, whatever its size.

    On request: any client — retail, wholesale, strata, any size — can ask us to disclose our remuneration for any product we’ve arranged or recommended, shown as a dollar amount.

    Format: at quotation, commission and fees as a percentage, a dollar amount, or both (separately per insurer where we quote more than one); at invoice, as a dollar amount.

  • 6. Does the scope of disclosure as drafted work operationally in your firm?*
  • 7. Are the strata product definitions (Residential Strata Insurance and Commercial Strata Insurance) clear and unambiguous?*
  • 8. Does the percentage and/or dollar at quote, dollar at invoice format work in your systems?*
  • 9. The draft prohibits accepting contingent remuneration (e.g. profit-share or volume-based payments from an insurer) when acting on a client’s behalf — but this does not apply where you’re acting for the insurer under a binder and not advising the client. Does that prohibition, with the binder carve-out, work in your firm?*

  • Claims and policy renewals (Section 8)

  • Section 8 covers a claim and a renewal.

    On claims, the draft requires us to keep the client informed, notify them of the insurer’s decision, advocate for them if the insurer unreasonably denies or reduces a claim (to the extent our engagement covers it), tell them if the insurer wants to negotiate a settlement, seek their instructions before agreeing any settlement, and explain declined claims including how to complain.

    On renewal, we must notify the client at least 28 calendar days before the policy expires that it is due for renewal — “notify” meaning tell them renewal is approaching, not provide fully underwritten terms — and take timely steps to find and advise on cover options.

  • 11. Do the claims-handling obligations (keep informed, notify the decision, advocate, seek instructions before settlement, explain declined claims) work in your firm’s processes?*
  • 12. With “contact” defined as notification (not full terms), does the 28-calendar-day renewal obligation work in your systems and processes?*

  • Clients experiencing vulnerability (Section 9)

  • Section 9 combines principles (be alert to vulnerability, take extra care, respect privacy and self-advocacy) with specific obligations — for example, arranging and paying for an interpreter where one is needed, publishing website statements on vulnerability and family-violence support, and providing staff training at induction and annually.

  • 13. Is that mix of principles and specific obligations the right balance for your firm, or do you need something different?*
  • 14. On family violence (including financial abuse), the draft’s approach is to referthe client to support (the insurer’s family-violence support and specialist services such as 1800RESPECT), protect the client’s safety in how you communicate (e.g. confirming a safe contact channel before sending documents), and publish a website statement — rather than the broker running its own family-violence response. Is that at the right level?*
  • 15. What Implementation Guidance or support material would help you meet the vulnerability provisions? (multiple select)*

  • Records (Section 10)

  • 16. Is a principles-based record-keeping obligation (complete, accurate, secure records; produce on request) plus Implementation Guidance examplessufficient, or do you need clearer minimum standards in the Code?*
  • 17. The draft requires retaining records for at least the period required by law(and, where more than one period applies, the longest) — rather than naming a single fixed number in the Code. Is that clear and workable, or would you prefer a stated minimum retention period?*

  • Communications & cooling-off (Section 5)

  • 18. Where a client has a cooling-off right on a policy you arrange, the draft requires you to promptly tell them the right exists, what it lets them do, and how to exercise it — and, if they decide to use it, to help them do so. Is that inform-and-assist obligation workable in your firm?*

  • Facilitative compliance runway (per section)

  • Rather than a single fixed start date, we’re asking how long each major section needs. Most sections re-word existing obligations and are therefore already BAU; some (notably expanded remuneration disclosure) may need systems work.

  • General feedback

  • 24. Did you use AI to help prepare any part of this response?*

  • Confidentiality and Submission

  • Confidentiality preference*
  • NIBA may wish to follow up with respondents to clarify feedback. Are you happy to be contacted?
  • Would you like to receive updates on the Code revision process?
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  • By submitting this form, you confirm that the information provided reflects your professional views and experience. NIBA will prepare a summary of consultation feedback for publication following the close of submissions. This summary will not identify individual respondents unless consent is given above.

    Questions? Contact code@niba.com.au or call (02) 9459 4300.

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