The final report on the independent review of the Motor Vehicle Insurance and Repair Industry Code of Conduct (code) is now available, according to the Insurance Council of Australia (ICA).
The ICA confirmed that the Motor Vehicle Insurance and Repair Industry (MVIRI) Code of Conduct Committee (CAC) Dr. Michael Schaper's final report on the independent review of the code.
The report outlines 15 recommendations in response to the review's terms of reference focusing on:
According to Dr. Schaper, the review emphasised the significance of the motor vehicle insurance and repair industry to the broader community.
“A thorough review of the code is important because we are in a time of significant change. The code is mandatory in New South Wales and South Australia, and a review of the code by the Tasmanian Government is underway,” Dr. Schaper said.
The Motor Traders' Association (MTA) of New South Wales (NSW), one of Australia's largest state-based industry associations dedicated to representing owners and business principals in the NSW automotive industry, has welcomed the final report.
Specifically, MTA NSW commends the recommendation that dispute resolution timeframes between insurers and repairers should be shortened, while consumers must receive explicit protections within the code.
“In an industry beleaguered by long wait times and insurers prioritising profits over people, insurers and the industry need to work together to make sure that Australians are at the heart of the code. Insurers and repairers should be compelled to resolve disputes quickly and fairly,” said MTA NSW CEO Stavros Yallouridis.
The CAC will work with its membership bodies to review Dr. Schaper's recommendations. A copy of the report is available on the websites of the ICA, the Motor Trades Association of Australia (MTAA), and the Motor Vehicle Insurance and Repair Industry Code of Conduct.
