As announced by the Insurance Council of Australia (ICA) the deadline for implementing the General Insurance Code of Practice (GICOP) has been delayed by six months until July 2021 to assist Insurers to manage the effects of COVID-19 and associated shutdown measures.
However the ICA expects Insurers to fast track the Vulnerable Customers and Financial Hardship parts of the GICOP by July 1, 2020 or earlier.
Enrolment in Gold Seal’s new Code online learning includes access to a module which incorporates these two components.
Even if you are not planning to adopt the new Code prior to 2021 we recommend you still consider putting your staff through the Vulnerable Customers and Financial Hardship training.
To support the GICOP requirements, Gold Seal’s online Supporting Vulnerable Customer training will help your frontline staff to:
- Understand if customers may be vulnerable
- Recognise how best, and to what extent, vulnerable customers can be supported
- Take account of vulnerable customers’ particular needs or vulnerability
- Engage with vulnerable customers with sensitivity, dignity, respect and compassion
It is important for all Insurance Brokers to understand the Code obligations to properly assist and advise their clients. Underwriting Agents and Insurance Brokers need to know the requirements of the Code if they are acting under a binder for underwriting or claims handling.
Click Here to enrol in the Supporting Vulnerable Customer training or any of Gold Seal’s online courses.
For assistance on any of your training requirements – email Gold Seal at firstname.lastname@example.org