The report, based on data sourced from Code subscribers’ Annual Compliance Statements (ACS) reveals that a notable 175 brokers reported no breaches, and 152 reported no complaints in the reporting period.
Chair of the IBCCC, Oscar Shub, expressed concern over these findings.
Read More Concern Remains Over Under-Reporting of Insurance Code Breaches and Complaints
In its Annual Report, the Insurance Brokers Code Compliance Committee (IBCCC) welcomed an increase in the number of brokers that reported breaches and complaints, but had concerns that too many continue to report zero breaches or complaints.
Read More IBCCC Sees Improvement but Serious Concerns Remain Over Underreporting of Breaches
From Insurance Brokers Code Compliance Committee 04/04/2023 Media Release. The Insurance Brokers Code Compliance Committee (IBCCC) has urged insurance brokers to recognise the importance of reporting breaches following a concerning finding in its latest Annual Data Report. The IBCCC’s report, which looks at the performance of insurance brokers subscribed to the Insurance Brokers Code of Practice, found…
Read More IBCCC Publishes its 2021 Annual Data Report: Insurance brokers need to embrace a culture of reporting