Review of subscribers’ implementation of vulnerability and financial hardship obligations
View: Review of subscribers’ implementation of vulnerability and financial hardship obligations
Size: 370 KB
The Committee undertook an implementation review in relation to Parts 9 and 10 of the 2020 General Insurance Code of Practice (2020 Code). These parts of the 2020 Code came into effect on 1 January 2021. Part 9 introduced new obligations for supporting customers experiencing vulnerability, while Part 10 contains enhanced standards for supporting consumers experiencing financial hardship.