The Committee recommends that the General Insurance Code of Practice be amended to require that insurers, at policy commencement and renewal, communicate key information on the consumer’s policy, including:
- A clearly highlighted plain English explanation of common obligations policyholders have under their policies and the application of certain exclusions if they are not undertaken, and
- general advice in relation to property maintenance and the expectations of the insurer regarding key aspects of the property such as roofs, gutters and fences, and
- general information around the calculation of a policyholder’s sum insured and factors a policyholder may wish to consider to ensure full coverage in a total loss event.
SrcNUM
Recommendation 24
RecCODE
INQref