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In this engaging and interactive 2 hour workshop we explore the impacts, interactions and inter-dependencies of the raft of insurance regulatory reforms arising from the Financial Services Royal Commission, the Government implementation roadmap and the 2020 General Insurance Code of Practice. The workshop is designed for business leaders tailored to your business, operating model, distribution channels, and unique customer experience so that practical issues are explored and insights provided. The Reforms that we explore include Financial Accountability Regime (FAR) Product Design & Distribution Obligations Claims handling as a Financial Service Unfair contract terms regime Duty not to make a misrepresentation No hawking Strengthening breach reporting Add-on insurance deferred sales model Use of the terms ”insurance” and ”insurer” ASIC’s update to Internal Dispute Resolution Reforms impacting regulators such as establishing the Financial Regulator Assessment Authority and increased powers for ASIC, AFCA and the GI Code Governance Committee APRA consultations including CPS 511 Remuneration Enforceability of Industry Codes 2020 GI Code of Practice   The workshop experience The workshop is facilitated by Paul Muir & includes practical tips & guidance tailored to your firms obligations & way of working. The workshop is designed to assist with practical business impacts and understanding opportunities to enhance the customer experience, with Paul’s insights to encourage curiosity, deeper thinking & open discussion. Who are the training workshops for? Our training workshops are individually tailored to your needs whether you are an insurer, AFSL or Authorised Rep online distributor, underwriting agency or claims service supplier. We also cater to the needs of Insurtech and Regtech organisations. Next steps? To obtain details of costs and further information on our 2020 Regulatory Reform workshops contact us at paul.muir@cas.wiseupweb.com.au

The new 2020 GI Code of Practice The 2020 General Insurance Code of Practice (2020 Code) was released by the Insurance Council of Australia (ICA) on 1st January 2020. Insurers must comply with the 2020 Code by 1 January 2021 and must have a family violence policy in place by 1 July 2020. The 2020 Code is significant and will be an enabler to meet community needs, standards and expectations. ‘The 2020 Code is the result of a thorough two-year review. The Insurance Council of Australia considered feedback and input from various organisations, including member insurers, consumer advocates, government and regulators.’ Gary Dransfield, President Insurance Council of Australia 1 January 2020 Impact of Financial Services Royal Commission reforms The challenge for insurers is that the 2020 GI Code comes at a time of unprecedented regulatory reform and heightened regulator scrutiny of the insurance industry by ASIC, APRA, AFCA and the Code Governance Committee. It is important therefore that a holistic approach is adopted when implementing the 2020 Code to ensure awesome customer experiences and meeting community needs, standards and expectations. With our 35 years of industry experience and practical experience with the 2014 Code, Compliance Advocacy Solutions is well placed to deliver training on the 2020 Code tailored to your specific needs and requirements. Our founder, Paul Muir, facilitated the insurance industry response to the ICA during the 2020 Code review process. Paul is well placed to share his insights and the underlying customer benefit of each part of the 2020 Code. Our 2020 Code training workshops We understand the costs of taking your team away from your customers. Our workshops have been designed to optimise the learning experience and minimise the disruption to your business. We offer: 1. A full day workshop covering the entire 2020 GI Code. This will suit firms looking to refresh their people’s knowledge or who are looking to create an awesome customer experience using the 2020 Code as an enabler. 2. A half day workshop exploring the key changes between the 2020 Code & 2014 Code. This workshop assumes a practical knowledge of the 2014 Code. Alternatively we can design a workshop to compliment your business requirements. All sessions are facilitated by Paul Muir & include practical tips & insights & are tailored to your firms obligations & way of working with scenarios to test understanding. We do all the work, freeing up your hard worked compliance team. We adopt an interactive & engaging approach utisiling Paul’s industry experience and insights. Paul assists your teams to understand the customer problem that each part of the Code sets out to resolve focusing upon the customer experience. The workshop uses practical examples & scenarios considering people, system & process impacts. We explore current regulatory reform & how the Code will interact with these obligations. We then explore the role & influence of ASIC, APRA AFCA & the Code Governance Committee. The workshop is designed to assist with practical business impacts of the Code with Paul’s insights […]