Code of Conduct
All NIBA members must agree to abide by the Code of Conduct. Breaches of the Code can result in fines of up to $10,000 or expulsion from NIBA. The Code of Conduct should be clearly displayed in a member's office at all times.
The NIBA Code of Conduct provides that brokers:
- Act in the best interests of the client;
- Provide advice and guidance to enable clients to make informed decisions on risk and insurance protection;
- Provide full and accurate information for effective underwriting;
- Respect the client's confidentiality in relation to all records and information;
- Ensure the validity and accuracy of all documentation;
- Make available all relevant documentation, policies, certificates, endorsements, and premium calculations, as may be required;
- Be professional, efficient and responsive in all dealings;
- In the event of a claim, take every step necessary to ensure prompt and fair settlement;
- Work towards maintaining and enhancing the reputation of NIBA and its members;
- Act in the spirit of this Code and encourage others to do likewise.
NIBA suggests that in the event of a dispute, you should first discuss the problem with the complaints or customer relations officer of your insurance broker or financial service provider. If you cannot resolve the problem, or you consider that the Member has breached the Code of Conduct, contact NIBA's registrar on 1800 004 306.