The General Insurance Code Governance Committee (CGC) has published its Annual Report for 2024–25, outlining key activities that strengthened insurer performance and improved outcomes for customers.
The report details the Committee’s monitoring, inquiries and enforcement work over the past year, showing how its actions have helped address serious issues while supporting insurers to enhance their practices.
During the year, the CGC conducted 14 remediation audits, overseeing the return of $2.9 million by insurers to 13,528 customers affected by breaches.
The Committee also imposed sanctions on two insurers for systemic failures, including $130,000 in community benefit payments, reinforcing the importance of meeting Code commitments.
Chair of the CGC, Veronique Ingram, said the Committee’s work is helping insurers deliver fairer outcomes.
“When insurers identify and correct issues, customers experience fairer outcomes. It also leads insurers to strengthen their systems for the future,” Ms Ingram said.
“These outcomes show the impact that effective oversight can have for customers.”
The CGC also helped insurers improve their processes and reduce the likelihood of future breaches. This work included a review of online motor insurance applications, follow-up work on the use of external experts, and updated industry guidance such as compliance reminders and advice on authority letters.
“Our inquiries and guidance give insurers the tools and clarity they need to strengthen their systems, communication and decision-making, supporting better outcomes for customers,” Ms Ingram said.
The Annual Report highlights the positive impact of early intervention and strong guidance.
“As it can identify issues early and help support better practices, our work contributes to strengthened confidence in the general insurance sector and more reliable, consistent experiences for customers,” Ms Ingram said.
The CGC will continue to work with insurers and stakeholders to support effective Code compliance and deliver better outcomes for customers.
Read the CGC’s Annual Report 2024-25.
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The General Insurance Code Governance Committee is an independent body that monitors and enforces insurers’ compliance with the Code of Practice.
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