Customers seeking insurance premium funding will benefit from industry best practice through a new Code of Practice.
The Australian Finance Industry Association (AFIA) and its Insurance Premium Funding (IPF) members have launched their Code of Practice after extensive consultation with stakeholders. AFIA members Arteva, Attvest, BOQ Finance, Clearmatch, Elantis, Hunter Premium Funding and IQumulate were involved in development of the Code.
The IPF Code came into effect on 1 October 2022, with Hunter Premium Funding and IQumulate being accredited as Code Complaint Members by the IPF Code Compliance Committee.
All other IPF members have indicated they will seek to be accredited as soon as practicable. AFIA will make sure all Code Complaint Members are disclosed.
For more information about the Code email codes@afia.asn.au.
See Media Release for more detail.
This Code describes contractually enforceable commitments made by Code Compliant Members.
The Terms of Reference govern the operation of the Insurance Premium Funding Code of Practice.
These By-Laws are administered by AFIA and are binding on all Code Compliant Members.
Answers to Frequently Asked Questions for the Insurance Premium Funding Code of
Practice can be found at the below link.
A recording of an AFIA webinar to assist in understanding and preparing for the new Code can be found at the below link.
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